| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 38th | Fair |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3333 Luella Blvd, La Porte, TX, 77571, US |
| Region / Metro | La Porte |
| Year of Construction | 1995 |
| Units | 104 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3333 Luella Blvd La Porte Multifamily Investment
Neighborhood occupancy is strong and has held above metro norms, supporting stable leasing and renewals according to WDSuite’s CRE market data.
Located in La Porte’s inner suburban fabric of the Houston metro, the property benefits from a neighborhood rated B+ with occupancy in the top decile nationally. For investors, that level of demand typically supports steadier collections and reduced downtime across cycles at the neighborhood level.
Livability indicators are competitive among Houston neighborhoods (396 of 1,491 overall; Competitive among Houston neighborhoods), with everyday amenities such as groceries and pharmacies performing above national averages and park access in the higher national percentiles. Cafés are limited, but restaurant density is solid for a suburban location. These dynamics provide convenience for residents without relying on destination retail.
The asset’s 1995 vintage is newer than the neighborhood’s average 1981 construction year, which can enhance competitive positioning versus older stock. That said, mid-1990s properties often require targeted capital planning for building systems, common areas, and unit finishes to maintain pricing power.
Renter concentration at the neighborhood level is moderate, indicating a meaningful base of renter-occupied housing units that can support multifamily absorption while limiting overreliance on any single tenant segment. Within a 3-mile radius, recent trends show modest population growth with a faster increase in households and a gradual reduction in household size—conditions that typically expand the renter pool and support occupancy stability. Median home values are elevated relative to incomes for the region, which sustained reliance on multifamily housing and can bolster retention, while the neighborhood’s rent-to-income profile suggests some affordability pressure that should be managed through prudent lease strategies.
Safety trends at the neighborhood level are mixed and currently sit below metro medians, with national comparisons indicating weaker standing (crime metrics are not in the top half nationally). Recent data also show year-over-year increases in both violent and property offense rates. Investors should underwrite accordingly with attention to operating practices—access control, lighting, and community standards—and evaluate how the submarket’s trajectory compares with nearby Houston neighborhoods.
The immediate employment base blends energy, industrial, and aerospace, supporting workforce housing demand and commute convenience for renters. Key nearby employers include Calpine Turbine Maintenance Group, Boeing, Air Products, Waste Management, and Calpine.
- Calpine Turbine Maintenance Group — power services (4.5 miles)
- Boeing: Bay Area Building — aerospace (4.7 miles)
- Air Products — industrial gases (8.6 miles)
- Waste Management — waste services (16.6 miles) — HQ
- Calpine — independent power producer (16.8 miles) — HQ
This 1995, 104-unit asset sits in a Houston inner-suburb neighborhood with occupancy in the top decile nationally, pointing to resilient renter demand and reduced turnover risk across cycles. Median home values relative to incomes indicate a high-cost ownership market, which tends to reinforce rental demand and support lease retention. Within a 3-mile radius, WDSuite data show recent population gains, faster household growth, and smaller average household sizes—conditions that typically expand the tenant base and support steady absorption. Based on commercial real estate analysis from WDSuite, effective rents in the area remain reasonable relative to the metro, but the neighborhood’s rent-to-income profile suggests monitoring affordability pressure and optimizing renewal strategies.
Relative to older nearby stock (average vintage early 1980s), the mid-1990s build can compete well on unit livability and systems, though investors should plan for targeted modernization to sustain pricing power. Overall, the combination of strong neighborhood occupancy, proximity to diversified employers, and a growing household base underpins a durable long-term thesis, with prudent attention to safety and affordability management.
- Top-decile neighborhood occupancy supports stable leasing and collections
- Newer-than-average 1995 vintage offers competitive positioning versus older stock
- 3-mile area shows household growth and smaller household sizes, expanding the renter pool
- High-cost ownership context reinforces renter reliance and lease retention potential
- Risks: below-median safety and rent-to-income pressure require active management