Lakeside
9550 Meyer Forest Drive
A Value-Add Multifamily Opportunity in a High-Income Houston Corridor
Lakeside is a 296-unit, 2001-vintage multifamily community located just off Houston’s Southwest Loop 610 in the affluent Willow Meadows area. Surrounded by high-income neighborhoods, top retail centers, and major employment hubs—including the Texas Medical Center, Greenway Plaza, and the Galleria—the property offers both stability and meaningful value-add potential. A blended fixed loan rate of 3.7% and an attractive cost basis support strong cash flow from day one, while a clear renovation roadmap and measurable rent gaps provide compelling upside.
Overview
Why Lakeside Is a Strong Investment
Lakeside combines a rare below-market debt structure, minimal new supply in the submarket, and a large pool of units ready for value-add improvements, creating a powerful foundation for appreciation and income growth. Roughly 57% of units remain in classic or partially updated condition, and similar renovated properties nearby are achieving rent premiums of more than $180–$300 per unit. With Houston’s recent absorption outpacing new deliveries and no new multifamily construction within a 3.5-mile radius, the asset benefits from tightening supply. The location’s affluence—$176K average household income within one mile—and proximity to major job centers further strengthen long-term demand.