Westminster Apartments

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Created date: February 6, 2023
Date last updated: December 1, 2023
  • Attractive assumable financing available through Freddie Mac including a fixed rate period with 3 years remaining at 3.56%.
  • Strong property fundamentals resulting in consistent occupancy and collections of 90% or greater.
  • Over $300k of CAPEX injected into the apartments since 2020 including a new chiller system in 2022.
  • Great location within Amarillo with access to all major employers and attractions.
  • Projected 5 Year Average Cash on Cash Return 6.8%
  • Projected 5 Year Levered IRR 19.3%

Property Description

The Westminster Apartments are a 97 unit apartment complex in Amarillo, Texas. The apartments are comprised of one bedroom, two bedroom, and three bedroom floorpans. Westminster had a dedicated clubhouse and office space to accommodate onsite management. Amenities include two dedicated laundry rooms, swimming pool, and a coffee bar for tenants.This stabilized property has been operated with excellent efficiency maintaining above average occupancy, and collections!

Key Property Information

Listing Status: Available
Multifamily type: Garden Style
No. of Units: 97
Year Built: 1974
Building Size: 39,792 Sq ft
No. of Stories: 2
Opportunity Zone: No

Unit mix

Description No. of Units Sq ft. Avg. Monthly Rent

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