Carmel

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Address: 1002 SW 11th Avenue, Amarillo, Texas, US
Created date: February 28, 2024
Date last updated: February 28, 2024
  • There are numerous major economic projects slated to add over 4,500 jobs to the local economy in the next few years, including Producer Owned Beef building a $670M facility, as well as a new Amazon Fulfillment Center which will employ 500 people.
  • There is an opportunity to add immediate scale by purchasing one or more of the other properties in the portfolio. E.g., West Oaks and Deville and Wolflin are within a short drive from the property.
  • Amarillo is the second fastest growing mid-sized city in the nation.
  • The property sits below direct competitors in rent and occupancy. New ownership can take a hands-on approach to increase income.
  • Amarillo performs exceptionally well during economic slowdowns. The local economy increased 3.8% over Covid while the national economy shrank 2.8%.

Property Description

Carmel Apartments is a 20-unit, partially renovated multifamily community located in Amarillo in Potter County, Texas. Built in 1964 and situated on .39 acres, the property is improved with a single two-story apartment building with brick siding and flat roofs.Carmel Apartments offers open and spacious studio, one-, and two-bedroom units featuring full kitchens equipped with white appliances, formica countertops, faux hardwood and carpet flooring, spacious bedrooms, and new paint. Ample open surface parking is provided.

Key Property Information

Listing Status: Unavailable
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $950,000
No. of Units: 20
Year Built: 1964
Lot Size: 13,382.00 Sq ft
Opportunity Zone: No
Price per unit: $47,500
Property Website Click Here
Address: 1002 SW 11th Ave, Amarillo, TX 79101, USA
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