6821 Fairway CtHouston, TX 77087

For Sale
$2,200,000

38-Unit Apartment Complex, Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a 38-unit Class C multifamily portfolio located in Houston, Texas, at 6821 & 6840 Fairway, zip code 77087, within Harris County. Priced at $2,200,000 with owner financing available, this property offers significant value-add potential. The current rents are below market average, providing immediate upside potential through a robust leasing strategy. A $15,000 per unit renovation budget allows for complete upgrades, maximizing rent appreciation and overall property value. The strategic location in a high-demand area offers easy access to key amenities, schools, and public transportation, enhancing its appeal to tenants. Further income streams can be generated through the addition of amenities such as vending machines and on-site laundry facilities. This property represents a compelling investment opportunity for those seeking to capitalize on the strong Houston rental market and enhance property value through strategic renovations and operational improvements. The property's proven track record and potential for increased rental income make it an attractive addition to any investment portfolio. This is a rare opportunity to acquire a well-positioned multifamily asset with substantial upside potential in a thriving Texas market.

Highlights

  • Significant value-add potential through strategic renovations and improvements.
  • $15,000 per unit renovation budget for complete upgrades maximizing rent appreciation.
  • Below-market rents offer immediate upside potential.
  • Robust leasing strategy will significantly increase rental income.
  • Potential for additional income streams via vending machines and on-site laundry.
  • Desirable location with easy access to amenities, schools, and public transportation.

Property Details for 6821 Fairway Ct

Property type
Multifamily properties, Apartment buildings
Class
C
Units
38

Location Insight

City
Houston
County
Harris
State
Texas
Latitude
29.6937471
Longitude
-95.3042266
6821 Fairway Ct, Houston, Texas

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6821 Fairway Ct
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