Address: 1410 Ponderosa Street, Canyon, Texas, US
Created date: October 19, 2023
Date last updated: October 19, 2023
- Prime location near WTAMU campus. WTAMU has an enrollment of over 10,000 and has recently added a state of the art football stadium with capacity for 12,000 and a 150,000 sqft Agricultural Sciences Center.
- There is an opportunity to add immediate scale by purchasing one or more of the other properties in the portfolio. E.g., Park View and Pepper Tree & Four Seasons are within blocks from the property.
- Amarillo is the second fastest growing mid-sized city in the nation.
- Competing properties have waitlists and similar units rent at higher amounts. 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%.
- 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 workers.
Ponderosa Apartments is a 24-unit, partially renovated multifamily community located in Canyon in Randall County, Texas. Built in 1978 and situated on .68 acres, the property is improved with a single two-story apartment building with brick siding and flat roofs.Ponderosa Apartments offers open and spacious one-bedroom units featuring full kitchens equipped with white appliances, formica countertops, faux hardwood flooring, updated cabinetry, spacious bedrooms, and new paint. Ample open surface parking is provided.