For Auction
Asset Snapshot
Investment Highlights
Offering Summary
Brokered by Kidder Mathews and powered by RealINSIGHT Marketplace, Falls of Deer Park, 7201 Spencer Hwy, Pasadena, TX 77505 is a 441-unit, Class C garden-style apartment community offered as an REO sale. Built in 1972 and renovated in 2018 on 23.4 acres, the property comprises 50 two-story apartment buildings, two two-story leasing offices and a one-story fitness center, with 1,098 surface parking spaces. Floor plans include one-, two- and three-bedroom flats plus two-bedroom townhomes averaging 1,000 SF, and most units have washer and dryer connections. The property was 48% occupied at the April 2026 inspection, against a Pasadena/Southeast Houston submarket that was 94.0% occupied in Q4 2025 with no new completions that quarter, and the appraiser projects a 24-month lease-up to stabilization. The Land Use Restriction Agreement that previously reserved 266 units for low- and very low-income families was lifted with the foreclosure. A 2025 property condition assessment identifies deferred maintenance, including roof damage, fire- and water-damaged down units, an inoperable pool and parking lot repairs. A portion of the site lies within a FEMA flood zone, and flood insurance is required. The property is zoned to Deer Park ISD, which consistently outperforms Houston ISD in state rankings. Amenities include two pools, two laundry rooms, a fitness center, clubhouse, playground and fenced gazebo, with access from Spencer Highway, Glenwood Avenue and Carrie Lane.
Due Diligence
Location
Falls of Deer Park fronts Spencer Highway in eastern Pasadena, with additional access from Glenwood Avenue and Carrie Lane. State Highway 225 is about 1.5 miles north, with Beltway 8 and the Houston Ship Channel nearby and downtown Houston roughly 30 minutes away, giving residents commuting options across the east side, and 88,102 people live within three miles.
Transaction Managers
Platform Fee
Buyer pays a minimum platform fee of 5% or $25,000 at closing.
How it Works
Learn about bidding, reserve prices, and closing.
Read the auction guideAuctioneer
Need Help?
Your transaction managers are your first point of contact for any auction or process questions. For additional support:
Investment Sales Brokers
Disclaimers
The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.
