Amarillo Portfolio
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Amarillo Portfolio
8 Residential Properties in Multiple Locations
Investment Highlights
- 20+ year ownership; keeping rents low and occupancy high while also taking care of large capex items.
- Amarillo is ranked the second fastest growing mid- sized city and boasted the lowest unemployment level in the state of Texas in 2022.
- The portfolio is offered at an extremely attractive cap rate with positive leverage opportunites.
- Since the operational approach was to pay down debt and keep the properties full for the ease of management, rents are below market.
- New ownership can expect the local economy to be robust and the property to thrive in this recession-resistant environment.
- The Seller would consider seller financing on offers with aggressive pricing and terms.
Executive Summary
GREA is pleased to announce the exclusive listing of the DR Portfolio. Comprising a total of 176-units spanning 8 garden-style properties, this portfolio totals 5 acres of well-maintained apartments. Nestled in prime locations within Canyon (6 complex’s) and Amarillo (2 complex’s), each property within this portfolio offers a blend of historical charm and modern convenience. Dating from 1926 to 1980, these properties have been thoughtfully maintained to ensure a superior living experience for residents featuring an array of one and two-bedroom units with vinyl plank hardwood flooring, complemented by either sleek black or pristine white appliances. Additionally, select units offer the convenience of washer and dryer hookups, while all units are fully equipped kitchens complete with Electric Ranges/Ovens.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 135,170 SF |
| Number of Properties | 8 | Total Land Area | 5.00 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 8 |
| Individually For Sale | 0 |
| Total Building Size | 135,170 SF |
| Total Land Area | 5.00 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Maddox Apartments
1613 S Polk St, Amarillo, TX 79102 |
Residential | 6,630 SF | 1951 | - |
|
Amarillo Apartments
2217 S Polk St, Amarillo, TX 79109 |
Residential | 14,910 SF | 1926 | - |
|
University Village Apartments
2312 14th Ave, Canyon, TX 79015 |
Residential | 12,350 SF | 1965 | - |
|
Canyon Village Apartments
2707 6th Ave, Canyon, TX 79015 |
Residential | 24,000 SF | 1966 | - |
|
Park Place
2618 10th Ave, Canyon, TX 79015 |
Residential | 16,000 SF | 1965 | - |
|
Cherrywood
2101 1st Ave, Canyon, TX 79015 |
Residential | 5,236 SF | 1958 | - |
|
Canyon Villas
2506 8th Ave, Canyon, TX 79015 |
Residential | 6,044 SF | 1965 | - |
|
Canyon Manor
2407 13th Ave, Canyon, TX 79015 |
Residential | 50,000 SF | 1963 | - |
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Sean Scott -
Ryan Quaid -
Global Real Estate Advisors
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