Carmel

• 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.