Renovated Multifamily Apartment
For Sale
Contact for pricing
6821 Fairway Drive, Houston, TX 77087
Renovated 22-unit apartment community in Southwest Houston, offered as a stabilized, substantially preleased investment.
Property Size16,050 SF
Price / SF$105.92
Days on Market72
Property Features for 6821 Fairway Drive
General Information
Standard status
Active
Size
16,050 SF
Property subtype
Multifamily
Zoning
NOT IN 100 / 500 YEAR
Occupancy
50%
Investment Type
Net Lease
Additional Details
Multifamily Units
22
Building Details
Year Built
1960
Year Renovated
2026
Buildings
1
Stories
2
Units
22
Tenancy
Multi
Listing Agency:
Partners
(713) 316-7059
Listed By:
Ryan DeGennaro · License #TX 9004042
Source:
Crexi
Added: Jun 2
Changed: Aug 8
Last Checked: Aug 12 at 3:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Partners
Investment Insights
Based on property information with market context.
Lancia Flats Apartments is a renovated 22-unit multifamily community in Southwest Houston. The property has undergone significant improvements and is presented as a substantially preleased, stabilized asset. With a smaller unit count, the community is structured for buyers seeking a more manageable multifamily investment while maintaining appeal as renovated housing product.
The location is described as providing convenient access to major employment and destination nodes, including Downtown Houston, the Galleria, Greenway Plaza, and the Texas Medical Center. It also benefits from access to major transportation corridors, which can support day-to-day connectivity for residents.
For investors, Lancia Flats offers a starting point with in-place occupancy supported by its substantially preleased profile and stabilized positioning, along with the opportunity to continue enhancing operations over time. The renovated status may help it compete with other updated multifamily options in the surrounding market. Buyers evaluating smaller apartment communities in Houston’s infill environment may want to review unit mix, current lease terms, and the scope of completed renovations as part of their underwriting. The asset is offered for sale with an emphasis on renovated quality, established income, and ongoing operational focus.
The location is described as providing convenient access to major employment and destination nodes, including Downtown Houston, the Galleria, Greenway Plaza, and the Texas Medical Center. It also benefits from access to major transportation corridors, which can support day-to-day connectivity for residents.
For investors, Lancia Flats offers a starting point with in-place occupancy supported by its substantially preleased profile and stabilized positioning, along with the opportunity to continue enhancing operations over time. The renovated status may help it compete with other updated multifamily options in the surrounding market. Buyers evaluating smaller apartment communities in Houston’s infill environment may want to review unit mix, current lease terms, and the scope of completed renovations as part of their underwriting. The asset is offered for sale with an emphasis on renovated quality, established income, and ongoing operational focus.
Key Highlights
- Renovated 22‑unit apartment community in Southwest Houston (Year built: 1960)
- Substantially preleased and presented as a stabilized multifamily investment
- Renovations include significant improvements to compete with renovated properties in the surrounding market
Property Analytics
Property Profile
Current Use
Lease Details
22
Residential units
Location Intelligence
Trade Area within ½ mile
845
Businesses Nearby
Explore this area
Business Placement
Demographics for 77087, TX
34,654
Population
12,400
Households
2.8
Avg Household Size
35
Median Age
12%
College-Educated
63%
High-School Grad
6.6 sq mi
ZIP Area
5,251
Density / Sq Mi
$53,624
Median Household Income
$32,927
Median Earnings
$1,015
Median Rent
$148,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Renovated 22-unit apartment community in Southwest Houston, offered as a stabilized, substantially preleased investment.
Where is this apartment building located?
The property is located at 6821 Fairway Drive Houston, TX.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Renovated 22‑unit apartment community in Southwest Houston (Year built: 1960); Substantially preleased and presented as a stabilized multifamily investment; Renovations include significant improvements to compete with renovated properties in the surrounding market
