• 587-Unit value add multifamily asset located in Houston, TX
  • Significant revenue generation potential through proven unit enhancement program yielding minimum $175 average per unit monthly premiums
  • Supply constrained market with zero units currently under construction; demand outpacing supply with 688 units of net absorption last 12 months on only 405 units delivered
  • Located in dynamic Spring Branch submarket of Houston featuring strong fundamentals of 9% annualized rent growth, compared to Houston's overall average of 6.9%
  • Adjacent to major West Houston economic hubs such as the Energy Corridor, CityCentrew, Galleria, & Memorial City

Waterford Grove

Waterford Grove is a 587-unit value add multifamily asset located in northwest Houston’s Spring Branch District, one of the city’s wealthiest submarkets in Houston. This affluent neighborhood’s median income level has grown 29% in the last 10 years. At this moment, the area is a supply constrained market, and there are zero units currently under construction. With such high demand for quality housing, this creates a unique opportunity to benefit not only from the current rents per square foot, which are 13-22% below competitive set, but the 9% annualized rent growth, compared to Houston’s overall average of 6.9%. Lease trade outs also averaged 5.1% on the last 50 leases signed. This property features a significant revenue generation potential through proven unit enhancement program, yielding minimum $175 average per unit monthly premiums. In addition, this region provides its residents convenient access to Interstate 10, providing mobility to all major employment centers throughout the city including the Energy Corridor, Uptown/Galleria, the Texas Medical Center, CityCentre, and Downtown Houston.

*Institutional Property Advisors | Worldwide Commercial | Triad Real Estate Partners has been selected to exclusively market the sale of Waterford Grove.*

Fore more information: Visit Property Website

Houston, TX

The city of Houston is in southeastern Texas, near the Galveston Bay and the Gulf of Mexico. Currently, the city is the seat of Harris County and the heart of the Greater Houston metropolitan area, the fifth-most populous metropolitan statistical area in the United States with a 2021 population of over seven million. The region has been named “America’s Most Diverse City” according to both the New York Times and LA Times, as 23% of the metro population are foreign-born residents. As a truly global city, Houston has roots in culture, energy, medicine, and research. People from across the globe relocate to Houston every year to take advantage of the appealing lifestyle and abundant job opportunities the region provides.

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Waterford Grove

Price  |  Subject to Market

Units  |  587

Square Ft.  |  681,933

Site  |  27.11 Acres

Year Built  |  1973


BROKER CONTACT
BOBBY SCHIAVONE
C: 502.386.6959
bschiavone@triadrepartners.com