Investment Highlights
Woodland Park is located near the heart of the Westchase Business District, which employs 93,000+ workers and features several major corporations including Haliburton, BMC Software, Emerson, Cameron, Philips 66, and National Oilwell Varco, and among several others. In addition, the Property provides excellent accessibility to Beltway 8 and Westpark Tollway, which conveniently connects residents to several other major employment centers. In addition to Westchase Business District, other close employment centers include West Houston Medical Center (1,200+ emp, directly adjacent to Camden Oak Crest), Energy Corridor (94,000+ emp), Texas Medical Center West (2,650+ emp), and Shell Technology Center (2,000+ emp).
The Property also boasts strong surrounding demographics with $85K+ household income in a 3-mile
radius, average home values of $477K+ in a 1-mile radius, and a high concentration of white-collar
employment with a 73% average in a 1-mile radius of the Property. Furthermore, due to the lack of supply in the surrounding area, the Property will foster more natural rent growth.
Property Highlights
Built in 1995, the property consists of 288 units with an average unit size of 866 square feet, and consists of 13 three-story residential buildings, 1 clubhouse, and 1 maintenance shop. Its unit mix is made up of 1-,2-, and 3-bedroom units. All homes are equipped with either balconies or ground floor porches. The previous Seller completed a modest renovation plan at the property in 2015, so the opportunity remains to bring all 288 homes to a consistent higher end finish level by installing quartz countertops, vinyl plank flooring, upgraded lighting and plumbing fixtures, and interior paint. Additionally, 100% of the property – common areas and apartment homes – feature keyless entry powered by Chirp. TruAmerica also plans to conduct a full renovation of the clubhouse and fitness center, as well as make other upgrades to the amenities and exterior.
Community Amenities
