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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

Property Facts

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
Canyon Manor
2407 13th Ave, Canyon, TX 79015
Residential 50,000 SF 1963 -
Canyon Villas
2506 8th Ave, Canyon, TX 79015
Residential 6,044 SF 1965 -
Cherrywood
2101 1st Ave, Canyon, TX 79015
Residential 5,236 SF 1958 -
Park Place
2618 10th Ave, Canyon, TX 79015
Residential 16,000 SF 1965 -
Canyon Village Apartments
2707 6th Ave, Canyon, TX 79015
Residential 24,000 SF 1966 -
University Village Apartments
2312 14th Ave, Canyon, TX 79015
Residential 12,350 SF 1965 -
Amarillo Apartments
2217 S Polk St, Amarillo, TX 79109
Residential 14,910 SF 1926 -
Maddox Apartments
1613 S Polk St, Amarillo, TX 79102
Residential 6,630 SF 1951 -
Show More > < Show Less
  • Listing ID: 31468489

  • Date on Market: 10/04/2024

  • Last Updated:

  • Address: Amarillo Portfolio, Canyon, TX

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