Overview
THE OPPORTUNITY
Transwestern’s Houston Multifamily Investment Sales Team is pleased to present the exclusive auction offering of Westbury Reserve, a 320-unit multifamily community strategically located in the West Bellaire submarket. Built in 1980, the property offers investors a rare chance to acquire a well-positioned asset in a supply-constrained area.
Auction Link: https://www.crexi.com/properties/2183110/texas-westbury-reserve
Westbury Reserve is poised to benefit from near-term rent growth driven by tightening market fundamentals. The submarket’s limited inventory pipeline enhances the property's value proposition, making it an ideal candidate for both yield-focused and value-add investors.
This offering represents a Receivership Sale opportunity, allowing buyers to acquire the asset below replacement cost through a streamlined transaction process. The lender-controlled nature of the sale enables investors to move quickly and unlock value in a recovering rental environment.
Investment Highlights
- Significant Value-Add Opportunity: Westbury Reserve offers a rare repositioning opportunity with occupancy currently below 30%. New ownership can complete lease-up, stabilize operations, and implement a targeted renovation program to bring rents in line with market levels—currently 26% below comparable properties. The submarket’s limited new supply supports near-term rent growth and a favorable environment for value creation.
- Strong Submarket Fundamentals: Located in the West Bellaire submarket, Westbury Reserve benefits from proximity to major employment centers including the Texas Medical Center, Galleria/Uptown, and Downtown Houston. Excellent access via Highway 90, Beltway 8, and Loop 610 ensures demand from a diverse renter base anchored by healthcare, education, and corporate employers.
- Replacement Cost Advantage: The asset is offered at a significant discount to Houston’s current replacement cost, which exceeds $180,000 per unit. This favorable basis provides strong downside protection and positions investors for long-term appreciation as development costs continue to rise.
- Established Amenity Base: Westbury Reserve features a robust amenity package including a swimming pool, fitness center, playground, gated access, and ample parking. Unit-level amenities such as private patios/balconies, spacious layouts, and internet readiness enhance resident comfort and retention, with opportunities for further upgrades to elevate the asset.
- Washer and Dryer Connections: All units excluding the one-bedroom units feature washer and dryer connections. 200 total units are equiped with W/D connections.
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