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Amblegrove Apartments 6840 Fairway Dr 16 Unit Apartment Building $1,852,500 ($115,781/Unit) Houston, TX 77087
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- Offering Memorandum
Property Facts
| Price | $1,852,500 | Apartment Style | Low-Rise |
| Price Per Unit | $115,781 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Sale Condition | Business Value Included | Building Size | 27,710 SF |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1960/2026 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Zoning | N/Ap, Houston | ||
| Price | $1,852,500 |
| Price Per Unit | $115,781 |
| Sale Type | Investment |
| Sale Condition | Business Value Included |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 27,710 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1960/2026 |
| Parking Ratio | 1/1,000 SF |
| Zoning | N/Ap, Houston |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
About 6840 FAIRWAY DR , HOUSTON, TX 77087
Amblegrove Apartments is a fully renovated 16-unit multifamily community located in the Golfcrest submarket of Southeast Houston. The property offers investors the opportunity to acquire a repositioned asset with strong lease-up potential, attractive projected cash flow, and immediate access to several of Houston’s largest employment and economic drivers. The property consists primarily of spacious two-bedroom units and has undergone extensive renovations, positioning it competitively within the surrounding rental market. Strategically located near I-45, Loop 610, the University of Houston, the Texas Medical Center, Hobby Airport, and the Port of Houston, the property benefits from exceptional connectivity to major employment hubs, retail corridors, and educational institutions. Houston’s continued population growth, affordability advantages, and expanding logistics, healthcare, and energy sectors continue to support multifamily demand throughout the area. In addition to the standalone acquisition opportunity, investors have the ability to acquire the adjacent Lancia Apartments, a recently renovated 22-unit multifamily property, creating a larger multifamily portfolio with increased scale, operational efficiencies, and expanded rental income potential. Amblegrove Apartments presents a compelling opportunity for investors seeking a renovated small multifamily asset with projected stabilized income, strong renter demographics, and long-term appreciation potential in one of Houston’s highly accessible infill submarkets.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 750 |
| 2+1 | 8 | - | 1,000 |
Property Taxes
| Parcel Number | 0590590000001 | Improvements Assessment | $946,979 |
| Land Assessment | $62,460 | Total Assessment | $1,009,439 |
Property Taxes
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Amblegrove Apartments | 6840 Fairway Dr
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