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Lancia Flats 6821 Fairway Dr 22 Unit Apartment Building $2,250,000 ($102,273/Unit) Houston, TX 77087
Executive Summary
Can be acquired with the Amblegrove Apartments (16-units) across the street, completely rehabbed in 2026.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $2,250,000 | Apartment Style | Low-Rise |
| Price Per Unit | $102,273 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.58 AC |
| Sale Condition | Business Value Included | Building Size | 16,050 SF |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2026 |
| Property Subtype | Apartment | ||
| Zoning | N/Ap, Houston | ||
| Price | $2,250,000 |
| Price Per Unit | $102,273 |
| Sale Type | Investment |
| Sale Condition | Business Value Included |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.58 AC |
| Building Size | 16,050 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2026 |
| Zoning | N/Ap, Houston |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
About 6821 FAIRWAY DR , HOUSTON, TX 77087
Lancia Flats Apartments is a renovated 22-unit multifamily community located in Southwest Houston, offering investors the opportunity to acquire a substantially preleased, stabilized asset with continued rental upside in one of Houston’s strongest infill locations. The property has undergone significant improvements, positioning it to compete with renovated assets in the surrounding market while still providing additional value-add potential through continued rent growth and operational efficiencies. Strategically located with convenient access to Downtown Houston, the Galleria, Greenway Plaza, the Texas Medical Center, and major transportation corridors, the property benefits from strong regional employment drivers and long-term population growth. The asset’s smaller unit count creates an attractive opportunity for private investors, family offices, and syndicators seeking a manageable multifamily investment in a supply-constrained urban market. Lancia Flats combines renovated product, potential strong in-place income, and a highly accessible Houston location, making it a compelling investment opportunity for buyers seeking both current cash flow and long-term appreciation potential. Can be acquired with the Amblegrove Apartments (16-units) across the street, completely rehabbed in 2026.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 22 | - | - |
Property Taxes
| Parcel Number | 0590600060005 | Improvements Assessment | $1,163,081 |
| Land Assessment | $176,400 | Total Assessment | $1,339,481 |
Property Taxes
Presented by
Lancia Flats | 6821 Fairway Dr
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