Contacts
GREA
GREA
GREA
Property Details
- Property Type Other
- Units 176
- Additional Rent Contact for pricing
- Date Updated Dec 20, 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.
Reach out to the broker for more info on lease terms and amenities
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.
Getting around
-
2/100
Walk Score ®
-
25/100
Bike Score ®
Location
- City Amarillo, TX
- Neighborhood Canadian River Breaks
- Zip Code 79102
- Market Amarillo
Points of Interest
-
Phillips 66
2.58 miles
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Love's
2.90 miles
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Valero
3.12 miles
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Walmart
3.16 miles
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Toot'n Totum
3.61 miles
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Conoco
3.99 miles
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Tesla Destination Charger - Best Western Plus Medical Center
7.16 miles
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Tesla Supercharger
7.19 miles
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paddock
2.44 miles
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220 SW 10th Ave
7.01 miles
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913 S Harrison St
7.02 miles
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909 S Harrison St
7.03 miles
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910 S Van Buren St
7.03 miles
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Santa Fe Building Parking
7.04 miles
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905 S Harrison St
7.05 miles
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904 S Van Buren St
7.05 miles
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901 S Harrison St
7.06 miles
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900 S Van Buren St
7.06 miles
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Comfort Suites
2.88 miles
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Motel 6
2.93 miles
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Holiday Inn Express & Suites
3.14 miles
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Traveler Motel
4.37 miles
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Amarillo Motel
4.79 miles
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Candlewood Suites Amarillo-Western Crossing
5.95 miles
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Staybridge Suites Amarillo-Western Crossing
5.97 miles
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Super 8 by Wyndham Amarillo West
6.04 miles
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Travelodge Amarillo West
6.07 miles
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Baymont Inn & Suites Amarillo West
6.07 miles
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Walmart Neighborhood Market
3.10 miles
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United Supermarkets
4.07 miles
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Trading Post
4.52 miles
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Walmart Supercenter
4.60 miles
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Natural Grocers
4.63 miles
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Big Lots
5.48 miles
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The Village on Bell
5.65 miles
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Market Street United
5.72 miles
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Burlington
6.04 miles
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American Freight
6.23 miles
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.
