Contacts
Ryan Quaid
GREA
Sean Scott
GREA
Zack Del Medico
GREA
Property Details
- Property Type Other
- Property Size 111,765 SF
- Units 176
- Additional Rent Contact for pricing
- Date Updated Nov 4, 2024
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.
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Highlights
- 20+ year ownership; keeping rents low and occupancy high while also taking care of large capex items
- Since the operational approach was to pay down debt and keep the properties full for the ease of management, rents are below market
- Amarillo is ranked the second fastest growing mid- sized city and boasted the lowest unemployment level in the state of Texas in 2022.
- New ownership can expect the local economy to be robust and the property to thrive in this recession-resistant environment.
- The portfolio is offered at an extremely attractive cap rate with positive leverage opportunites. The basis, with value creation via moving rents to market and adding car ports, offers an opportunity to stabilize much higher.
- The Seller would consider seller financing on offers with aggressive pricing and terms.
Attachments
Getting around
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51/100
Walk Score ®
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30/100
Transit Score ®
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42/100
Bike Score ®
Location
- City Amarillo, TX
- Neighborhood Old San Jacinto
- Zip Code 79102
- Market Amarillo
Points of Interest
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Valero
0.60 miles
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Toot'n Totum
0.62 miles
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Chevron
1.26 miles
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Sam's Club
1.44 miles
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Phillips 66
1.72 miles
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Tesla Destination Charger - Best Western Plus Medical Center
4.75 miles
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Tesla Supercharger
4.76 miles
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220 SW 10th Ave
0.55 miles
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Santa Fe Building Parking
0.56 miles
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913 S Harrison St
0.56 miles
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909 S Harrison St
0.57 miles
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905 S Harrison St
0.58 miles
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901 S Harrison St
0.60 miles
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910 S Van Buren St
0.61 miles
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904 S Van Buren St
0.62 miles
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Happy State Bank Parking Garage
0.63 miles
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900 S Van Buren St
0.63 miles
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Courtyard Amarillo Downtown
0.68 miles
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The Barfield, Autograph Collection
0.79 miles
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Embassy Suites by Hilton Amarillo Downtown
0.88 miles
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Quality Inn East
1.04 miles
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Red Roof Inn Amarillo Airport/Downtown
1.12 miles
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Days Inn by Wyndham Amarillo East
1.13 miles
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Baymont Amarillo East
1.16 miles
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La Quinta Inn by Wyndham Amarillo Mid-City
1.19 miles
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La Quinta Inn by Wyndham Amarillo Mid-City 1
1.24 miles
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Microtel Inn & Suites by Wyndham Amarillo
1.26 miles
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Family Discount Store
0.72 miles
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Kress
0.72 miles
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Amarillo International Food Market
1.36 miles
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Walmart Neighborhood Market
1.74 miles
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Market Street United
1.79 miles
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La Super Economica
2.03 miles
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Walmart Supercenter
2.25 miles
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United Supermarkets
2.26 miles
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Amigos
2.31 miles
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Bealls
2.38 miles
In-Depth Research Available for this Property
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
