Ponderosa | 1410 Ponderosa St
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Ponderosa 1410 Ponderosa St
24 Unit Block of Flats £807,003 (£33,625/Unit) Canyon, TX 79015
Executive Summary
Located Blocks Away From West Texas A&M Campus
The properties are ideally located in Canyon on the edge of campus. WTAMU is the second largest employer and the largest economic driver for the town. West Texas A&M has an enrollment of just over 10,000 students and offers 40 undergraduate programs, 40 masters programs, and 2 doctoral programs. Recently, the university built an on campus, state of the art football stadium with capacity for 12,000 people and a 150,000 square foot Agriculture Sciences Center worth $48 million to bolster its highly ranked school of agriculture. WTAMU is ranked the safest campus in the nation and the top for online bachelor and business graduate degree programs by US News and World Report.
Immediate Scale
The current ownership group is selling an additional 210-units in the immediate area of which 68-units are in Canyon, presenting a unique opportunity for a new owner to have economies of scale by purchasing an additional one, multiple, or all of the other properties in the portfolio. Reach out to the listing broker for additional information.
Upside in Rents and Occupancy
New ownership has the chance to take over a well-located property and execute a more hands-on operational approach. Competing properties have wait lists for new tenants and are renting similar units at amounts higher than Ponderosa, leaving opportunity for new ownership to inject CapEx into the property to command higher rents and occupancy.
Nearby Amarillo Ranked the Second Fastest Growing Mid-Sized City
Amarillo is ranked the second fastest growing mid-sized city and boasted the lowest unemployment level in the state of Texas in 2022. Amarillo is home to a diverse set of industries, including meatpacking, petroleum extraction, agriculture, and logistics. In recent years, the economy has experienced the strongest growth in the past 30 years, and projections slate the market to grow 2.5% in 2023. Canyon is a benificiary of the local MSA economic expansion.
Amarillo Performs Well During Economic Slowdowns
In 2020, the national economy shrank 2.8%, which was the largest decline in 70-years. During this time, Amarillo was the top mid-sized city in the country in terms of economic growth, growing 3.8%. New ownership can expect the local economy to be robust and the property to perform well despite any uncertainty in the broader national economic landscape.
Offered Free and Clear of Existing Debt
The property is being offered free and clear of existing debt with multiple financing options avaliable.
The properties are ideally located in Canyon on the edge of campus. WTAMU is the second largest employer and the largest economic driver for the town. West Texas A&M has an enrollment of just over 10,000 students and offers 40 undergraduate programs, 40 masters programs, and 2 doctoral programs. Recently, the university built an on campus, state of the art football stadium with capacity for 12,000 people and a 150,000 square foot Agriculture Sciences Center worth $48 million to bolster its highly ranked school of agriculture. WTAMU is ranked the safest campus in the nation and the top for online bachelor and business graduate degree programs by US News and World Report.
Immediate Scale
The current ownership group is selling an additional 210-units in the immediate area of which 68-units are in Canyon, presenting a unique opportunity for a new owner to have economies of scale by purchasing an additional one, multiple, or all of the other properties in the portfolio. Reach out to the listing broker for additional information.
Upside in Rents and Occupancy
New ownership has the chance to take over a well-located property and execute a more hands-on operational approach. Competing properties have wait lists for new tenants and are renting similar units at amounts higher than Ponderosa, leaving opportunity for new ownership to inject CapEx into the property to command higher rents and occupancy.
Nearby Amarillo Ranked the Second Fastest Growing Mid-Sized City
Amarillo is ranked the second fastest growing mid-sized city and boasted the lowest unemployment level in the state of Texas in 2022. Amarillo is home to a diverse set of industries, including meatpacking, petroleum extraction, agriculture, and logistics. In recent years, the economy has experienced the strongest growth in the past 30 years, and projections slate the market to grow 2.5% in 2023. Canyon is a benificiary of the local MSA economic expansion.
Amarillo Performs Well During Economic Slowdowns
In 2020, the national economy shrank 2.8%, which was the largest decline in 70-years. During this time, Amarillo was the top mid-sized city in the country in terms of economic growth, growing 3.8%. New ownership can expect the local economy to be robust and the property to perform well despite any uncertainty in the broader national economic landscape.
Offered Free and Clear of Existing Debt
The property is being offered free and clear of existing debt with multiple financing options avaliable.
Data Room Click Here to Access
Property Facts Under Contract
Price | £807,003 | Building Class | B |
Price Per Unit | £33,625 | Lot Size | 0.68 AC |
Sale Type | Investment | Building Size | 17,706 SF |
No. Units | 24 | Average Occupancy | 75% |
Property Type | Residential | Number of Floors | 2 |
Property Subtype | Apartment | Year Built | 1978 |
Apartment Style | Low Rise | Parking Ratio | 2.25/1,000 SF |
Price | £807,003 |
Price Per Unit | £33,625 |
Sale Type | Investment |
No. Units | 24 |
Property Type | Residential |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | B |
Lot Size | 0.68 AC |
Building Size | 17,706 SF |
Average Occupancy | 75% |
Number of Floors | 2 |
Year Built | 1978 |
Parking Ratio | 2.25/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Heating
- Refrigerator
- Oven
- Range
- Walk-In Closets
- Carpet
- Patio
Unit Mix Information
Description | No. Units | Avg. Rent.Mo | SF |
---|---|---|---|
1+1 | 24 | - | 565 |
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PROPERTY TAXES
Parcel Number | R-065-1250-0640 | Improvements Assessment | £376,840 |
Land Assessment | £35,056 | Total Assessment | £411,896 |
PROPERTY TAXES
Parcel Number
R-065-1250-0640
Land Assessment
£35,056
Improvements Assessment
£376,840
Total Assessment
£411,896
zoning
Zoning Code | MF |
MF |
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Ponderosa | 1410 Ponderosa St
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