Palo Duro Portfolio

63 Unit Apartment Building | For Sale | Amarillo, TX 79107

Property Type: Multifamily
Square Feet: 1,320 SF

Listing Contacts

Greg Brownd

Verified Profile

Jaxton Hoelting

Verified Profile

Property Info

Property Overview

Property Description
The Go-Getters Multifamily Team is pleased to announce the exclusive listing of the Palo Duro Portfolio. This package deal includes 34 duplexes (68 units). Each of the 68 units is 660 square feet and has 2 - beds / 1 - bath. This property consists of a large HUD/PCS tenant portion for this property and it is well set up for that type of tenant. With average rents at $863 and current HUD rate at $1079, this allows new ownership to bring rents up to market rate.
Location Description
Located in North Amarillo, this property is situated north of the downtown core and encompasses several neighborhoods and districts. It's bordered roughly by Interstate 40 to the south, extending northward to the city limits. Key areas within this zone include neighborhoods like North Heights, San Jacinto, and Eastridge. Several large employers include Northwest Texas Healthcare System, BSA, Pantex Plant, and Tyson Foods.
Highlights
Rents are $216 below market rents. The 2 bed HUD rate is 1079/month.
Seller Financing Available.
7.7% Cash on Cash return Year 1 .

Property Details

Class: C
Year Built: 1953
Stories: 1
Lot Size (sq. ft): 10,019 SF
Units: 63

Highlights

Rents are $216 below market rents. The 2 bed HUD rate is 1079/month.
Seller Financing Available.
7.7% Cash on Cash return Year 1 .

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