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6821 Fairway Dr
Houston, TX 77087
Lancia Flats · Multifamily Property For Sale
·
22 Units
Executive Summary
Can be acquired with the Amblegrove Apartments (16-units) across the street, completely rehabbed in 2026.
Property Facts
| Price Per Unit | $142,187 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Sale Condition | Business Value Included | Lot Size | 0.58 AC |
| No. Units | 22 | Building Size | 16,050 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1960/2026 |
| Zoning | N/Ap, Houston | ||
| Price Per Unit | $142,187 CAD |
| 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 | $1,616,997 CAD |
| Land Assessment | $245,244 CAD | Total Assessment | $1,862,240 CAD |
Property Taxes
