| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Good |
| Demographics | 48th | Good |
| Amenities | 11th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2901 Hamman Rd, Bay City, TX, 77414, US |
| Region / Metro | Bay City |
| Year of Construction | 1984 |
| Units | 112 |
| Transaction Date | 2013-12-17 |
| Transaction Price | $8,500,000 |
| Buyer | MOSAIC NICHOLS LP |
| Seller | BLUE VALLEY APARTMENTS INC |
2901 Hamman Rd, Bay City Multifamily Investment
Positioned in a renter-heavy submarket with competitive occupancy, this asset offers steady demand drivers and value-add potential, according to WDSuite’s CRE market data. Investors can underwrite against accessible local rent levels and a growing household base.
Bay City’s inner-suburban setting here skews practical: grocery access is solid for the metro while restaurants, cafes, and parks are limited, pointing to a car-oriented lifestyle. Neighborhood occupancy is competitive among Bay City neighborhoods and has trended up over the past five years, supporting leasing stability for professionally managed assets.
Vintage in this area averages late-1980s. With a 1984 build, the property is slightly older than nearby stock, which may warrant targeted capital planning (exteriors, common areas, or systems) and creates a clear runway for value-add repositioning to differentiate versus comparable assets.
Within a 3-mile radius, approximately half of housing units are renter-occupied, indicating a deep tenant base for multifamily. Household counts have been increasing even as average household sizes decline, which expands the pool of one- to two-person renters and can support steady absorption at practical price points.
Home values in the immediate area are lower than many U.S. neighborhoods, and rents remain accessible relative to local incomes. For investors, that dynamic can bolster retention and reduce downsize-to-ownership competition, while still allowing for measured rent steps when paired with unit upgrades and service improvements, based on CRE market data from WDSuite.
Neighborhood-level safety data for this area is limited in WDSuite’s dataset, so investors typically benchmark conditions against city and county reporting and observe on-the-ground indicators (property upkeep, lighting, visibility). Consider reviewing recent trends and speaking with local operators to align security measures and operating assumptions with submarket norms.
This 112-unit 1984 community combines a practical cost basis with durable renter demand. Neighborhood occupancy ranks competitive within the Bay City metro and has improved in recent years, while the local renter concentration provides depth to the tenant pool. The asset’s slightly older vintage versus nearby stock creates a straightforward value-add path to lift rents and enhance retention.
According to commercial real estate analysis from WDSuite, accessible rent levels relative to incomes, a projected increase in households within a 3-mile radius by 2028, and shrinking household sizes point to a larger renter pool and sustained absorption potential. Execution should emphasize targeted CapEx, curb appeal, and operational consistency to capture steady demand without overreliance on outsized rent growth.
- Competitive neighborhood occupancy and improving trend support leasing stability
- 1984 vintage offers clear value-add and systems modernization upside
- Deep renter-occupied housing base within 3 miles expands tenant funnel
- Accessible rent levels relative to incomes can enhance retention and pricing power post-upgrades
- Risks: amenity-light surroundings and older systems may require CapEx and asset management focus