Waters at Westchase
Waters At Westchase | 260 Units
Marketing description
Waters at Westchase Apartments is a 260-unit community located near Houston’s sought-after Westchase District. Offering one-bedroom, and two-bedroom floor plans ranging from 600 to 970 square feet, the property features open living areas, walk-in closets, private patios, and efficient appliances. Select units include upgraded interiors with black appliances, accent walls, and washer/dryer connections. Recent renovations enhance the property with modern finishes and natural light.
Ideally situated near major highways, Waters at Westchase provides easy access to key employment hubs, shopping centers like The Galleria, and dining options. Outdoor enthusiasts will enjoy nearby parks, including Terry Hershey Park, while dining options like Escalante’s Fine Tex-Mex & Tequila and Crawfish & Noodles are minutes away. The property is also close to Houston Community College and major employers, with a Preferred Employer Program offering discounts.
On-site amenities include a large swimming pool, outdoor grilling stations, a laundry center, and a resident portal for rent payments and maintenance requests. Waters at Westchase presents an exceptional opportunity in a highly desirable location, offering strong investment potential.
Investment highlights
- STRATEGIC WEST HOUSTON LOCATION - Waters at Westchase is ideally located in one of Southwest Houston's most established rental corridors, positioned between Chinatown and the Westchase District. The property offers immediate access to Beltway 8 and the Westpark Tollway, providing residents convenient connectivity to major employment centers, retail destinations, and entertainment hubs. Harwin Drive, a well-known commercial corridor recognized for wholesale shopping, small business activity, and diverse retail offerings, further supports strong residential demand.
- AFFLUENT DEMOGRAPHIC PROFILE - The property is situated within an established residential corridor supported by strong household incomes. According to CoStar, average household income within a one-mile radius exceeds $88,000, while median household income exceeds $65,000, supporting a favorable renter profile and long-term rent growth potential.
- SIGNIFICANT REVENUE GROWTH OPPORTUNITY - Current rents are estimated to be approximately $250 per unit below comparable properties and remain well below fully renovated competitors. Additional upside exists through ancillary revenue opportunities, including a new laundry agreement that could generate approximately $10 per unit monthly, or roughly $28,000 annually, and a technology package that could add $50 per unit monthly, or nearly $140,000 annually.
- EXTENSIVE RECENT CAPITAL IMPROVEMENTS - Ownership has invested more than $2.6 million into the property over the past four years, improving the asset's condition and reducing near-term capital needs. Improvements include upgrades to HVAC systems, boilers, plumbing infrastructure, appliances, flooring, and various interior and exterior components. A detailed capital improvement schedule is available in the Doc Vault.
- ACCESS TO HOUSTON'S PREMIER EMPLOYMENT AND ENTERTAINMENT HUBS - Waters at Westchase benefits from proximity to major employment centers including the Westchase District, Energy Corridor, Uptown/Galleria, and Downtown Houston. Nearby sectors include energy, engineering, professional services, healthcare, technology, retail, hospitality, logistics, and transportation. The property also offers convenient access to The Galleria, CityCentre, Memorial City, and West Houston's dining, shopping, and recreation.
- SCALABLE ANCILLARY REVENUE OPPORTUNITY THROUGH IN-UNIT LAUNDRY - The property is well positioned to capture in-unit laundry revenue, with washer and dryer connections already installed in most units. Only 84 units, primarily the smallest one-bedroom floor plan, lack connections. Installing and leasing washer/dryer appliances could generate approximately $50 per unit monthly while improving resident satisfaction and competitiveness.
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