North Bend is located at the nexus of Houston’s most compelling growth corridor. The garden-style community is minutes from Bush Intercontinental Airport (IAH), two regional medical districts, and the rapidly emerging AI-manufacturing super hub anchored by Apple, Foxconn, and Nvidia; together bringing thousands of new jobs and a projected $1 billion+ economic impact by 2026. With no new multifamily construction in the densely populated area, North Bend is ideally positioned to benefit from projected rent growth and long-term value appreciation. It offers immediate income growth through interior renovations, proven post-renovation rents on its rent roll, and durable future upside backed by powerful demand drivers.
the property
201 Wilcrest Dr, Houston, TX 77042
Latitude 2976
734
TOTAL UNITS
1975/1976
YEAR BUILT
1,063
AVG UNIT SF
The Opportunity
The Location
The Property
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The Location
Price
Terms
Year Built
Total Acreage
Total Units
Total SF
Avg Unit SF
Avg Rent/Unit
Avg Rent/SF
Leased | Occupied
Market
All Cash
1983
10.55
282
214,128
759
$999
$1.32
93% | 91%
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Market Support for Higher Rents
Renovated units achieve up to $116 premiums
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Revenue Growth Potential for New Ownership
Limited capital expenditures needed due to $4M capital investment by current ownership to address deferred maintenance, reposition, and renovate the asset
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investment highlights
THE OPPORTUNITY
investment summary
Modernized Leasing Office/Clubhouse
Business Center
Fully-Equipped Fitness Center
Resort-Style Swimming Pool
Trellised Outdoor Kitchen with Gas Grills
Picnic Pavilion with BBQ Grills
Children’s Playgound
Package Lockers
Clothing Care Centers
Beautifully Landscaped
community amenities
Community amenities
Demand Drivers for Value Appreciation
Centrally located between I45 and Hwy 249 and south of Cypress Creek Pkwy
Modernized Leasing Office/Clubhouse
Business Center
Fully-Equipped Fitness Center
Resort-Style Swimming Pool
Trellised Outdoor Kitchen with Gas Grills
Picnic Pavilion with BBQ Grills
Children’s Playgound
Package Lockers
Clothing Care Centers
Beautifully Landscaped
community amenities
Leasing office/clubhouse
Two swimming pools
Poolside seating and sundeck
Picnic tables and outdoor grills
Mature landscaping and open greenspaces
Play area with picnic table
Laundry facilities
Abundant open surface parking
Perimeter fencing with controlled access
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Center
Community common areas
apartment home features
unit amenities
Investment Sales and Mortgage Banking
contact us
14131 Cornerstone Village Dr | Houston, TX 77014
houston, tx office
2229 San Felipe, Ste 1600
Houston, TX 77019 (713) 974-1300 | Berkadia.com
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
jed dalton
Senior Financial Analyst (832) 314-5078 jed.dalton@berkadia.com
TX CRE #787068
ESTEE IBÁÑEZ
AVP - Financial Analysis (713) 469-4512 estee.ibanez@berkadia.com
TX CRE #687201
tucker fama
Senior Financial Analyst (281) 923-3856 tucker.fama@berkadia.com
TX CRE #9002106
CUTT ABLESON
Senior Managing Director Mortgage Banking (713) 469-4503
cutt.ableson@berkadia.com
kyle whitney
Senior Director (713) 724-1456 kyle.whitney@berkadia.com
TX CRE #658451
joey rippel
Managing Director (601) 919-5155 joey.rippel@berkadia.com
TX CRE #654288
JOHNNY KING
Director
Mortgage Banking (713) 469-4502 johnny.king@berkadia.com
CUTT ABLESON
Senior Managing Director
Mortgage Banking (713) 469-4503 cutt.ableson@berkadia.com
CARL RASMUSSEN
Associate Director
Mortgage Banking (713) 469-4514 carl.rasmussen@berkadia.com
Corby chaffin
Managing Director
Mortgage Banking (713) 469-4516 corby.chaffin@berkadia.com
tucker knight
Managing Director
Mortgage Banking (713) 469-4515 tucker.knight@berkadia.com
chris young
Managing Director (972) 743-5742 chris.young@berkadia.com
TX CRE #630674
jeffrey skipworth
Managing Director (214) 533-3322 jeffrey.skipworth@berkadia.com
TX CRE #560404
chris curry
Senior Managing Director (713) 553-0151 chris.curry@berkadia.com
TX CRE #566750
investment sales
jed dalton
Associate Director
(832) 314-5078
jed.dalton@berkadia.com
TX CRE #787068
nathan stone
Senior Managing Director Mortgage Banking (214) 394-3444
nathan.stone@berkadia.com
Limited capital expenditures needed due to $4M capital investment by current ownership to address deferred maintenance, reposition, and renovate the asset
Can update 40% of units with classic finishes, including white appliances
Can add granite countertops and stainless steel appliances to 100% of units
Can add washers and dryers to units without them
Can add reserved parking or carports
Can capture reduced expenses from a recently implemented water conservation program
Can implement bulk cable/internet contract
Renovated units achieve up to $116 premiums
Renewals YTD have averaged 5.3% increases on new leases
$355 rent gap with Class A properties in submarket and $246 rent gap with Class B properties (MRI Apartment Data)
No units in lease-up or under construction within three miles
3.3% average annual rent growth projected from 2026 to 2028 (RealPage)
2-inch wood-style blinds in select units
Ceiling fans in living areas
Laminate or resurfaced countertops
Ceiling fans in living areas and bedrooms
Wood-style flooring in select units
White or black kitchen appliances
Kitchen pantries in select units
Washer/dryer connections in select units
Private patios and balconies
Outside storage in select units
Centrally located between I45 and Hwy 249 and south of Cypress Creek Pkwy
117K jobs within five miles and 396K jobs within 10 miles
Two regional hospital districts within five miles
$69M expansion underway at HCA Houston Healthcare Northwest
Eight miles from first U.S. hub for advanced AI-hardware manufacturing with 2M SF planned by Apple, Foxconn, and Nvidia
Four major employment districts, Willowbrook, IAH, North Houston District, City Place (ExxonMobil HQ), within 20-minute commutes
$3B expansion underway at IAH
Walking distance to Beneke Elementary School
Abundant grocery options, lifestyle retail, and neighborhoods parks nearby
$84K average household income within a three-mile radius and $420K average home prices in local area (CoStar, HAR)