Overview
Colliers is pleased to present the offering memorandum for Andalucia Apartments, a compelling value-add multifamily opportunity located in the highly desirable Humble submarket of Northeast Houston. Strategically positioned along the U.S. Highway 59/I-69 and FM 1960 corridors, the Property offers exceptional connectivity to major employment centers, retail destinations, and transportation infrastructure throughout the region. Residents benefit from immediate access to premier shopping, dining, and entertainment amenities, including Deerbrook Mall, as well as convenient proximity to George Bush Intercontinental Airport, one of Houston’s largest economic and employment drivers.
The Property has been well maintained by current ownership and presents investors with the opportunity to implement a strategic interior renovation program designed to capitalize on continued rental growth within the submarket. Andalucia Apartments offers an attractive mix of spacious floor plans that foster a strong sense of community and long-term tenant appeal. Supported by favorable demographics, steady population growth, and limited new multifamily supply in the surrounding area, the asset is well-positioned to deliver durable occupancy and long-term cash flow performance.
Andalucia Apartments also benefits from proximity to several of Houston’s most significant employment centers, including Pinto Business Park and the expanding North Houston District, a major business and commercial hub that continues to attract substantial public and private investment. Anchored by corporate offices, healthcare facilities, industrial employers, and hospitality demand generated by the airport corridor, the area has experienced significant economic growth and redevelopment in recent years. Combined with convenient access to Downtown Houston, Lake Houston, and the broader North Houston employment corridor, Andalucia Apartments is ideally positioned to benefit from continued economic expansion, strong regional rent growth trends, and sustained renter demand within one of Houston’s fastest-growing submarkets.
Investment Highlights
Strategic Airport & Employment Corridor Location Positioned minutes from George Bush Intercontinental Airport (IAH), and immediate connectivity to Aldine Westfield Road, I-45, Beltway 8, and Highway 59, enhancing commuter convenience and supporting long-term rental demand.
Value-Add Potential with Proven Market Demand The property offers an opportunity to enhance the interiors by implementing upgrades which will further elevate the property’s attractiveness allowing for potential rent increases
Attainable Workforce Housing in a High-Growth Submarket With one- and two-bedroom floor plans ranging from 593 to 859 square feet, Andalucia serves a broad workforce renter demographic seeking affordability near major employment centers. The Humble/North Houston corridor continues to experience population and job growth driven by airport expansion, industrial development, and ongoing residential demand, positioning the property favorably within the region’s affordable housing supply gap.
Srong Neighborhood Fundamentals & Retail Accessibility
The property benefits from proximity to major retail corridors, educational institutions, and recreational amenities, including Lone Star College and multiple parks and shopping destinations throughout the Humble trade area. Residents benefit from easy access to everyday conveniences while remaining within commuting distance of Downtown Houston and major employment hubs, enhancing the property's long-term leasing appeal.
Existing LURA expires in 2032 Property is subject to a LURA that runs through 2032. The LURA requires 45 units available for occupancy by Lower-Income Families (80% AMI), of which 26 of those units to be offered to very Low-Income Families (60% AMI).
Family-Oriented Unit Mix 60% of the units are two bedrooms
Sales Team
