- For Sale $17,300,000
- Property Type Multi-Family
- Property Size 131,139 SF
- Units 81
- Lot Size 5.85 Acre
- Year Built 2024
- Date Updated Jan 23, 2024
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Highlights
- Paper Lots Are Available - For more Info Contact Us!
- New construction Build-for-Rent homes in a strong market with supply constraints
- Strong lease-up velocity, given a limited supply of available homes
- Seller is a seasoned local developer/builder with 20+ years’ of experience in Amarillo
- Optionality for investors on the acquisition here may purchase land and contract with developer/builder to develop horizontal and vertical construction or forward commit to purchase homes in monthly tranches at C.O.?
- Investment offers two distinct floor plans, with 60 attached townhomes and 21 detached homes
- All homes are 3-bed, 2-bath homes with attached 2-car garages
- Horizontal development can begin as early as Q2 2023
- The first tranche of homes delivered at C.O. is anticipated to be in Q2 2024
- Opportunity to purchase new construction homes below the median market average
- The asking price for new construction homes in Valleyview is below the median price in Amarillo
- Little to no CapEx for many years to come with quality, long-term tenants, and low turn costs
- Stabilized Gross Yield projected to 13.00% with annual rents of $2,248,160
- Operating expense ratio of 35.07% given lower taxes compared to major Texas markets?
- Projected NOI at stabilized Year 1 of $1,385,647
- A strong stabilized cap rate projected to be 8.12%?
- Significant ReFi or disposition opportunity upon stabilization
- Excellent long-term hold opportunity or strong IRR opportunity via cap rate arbitrage at the disposition
- All SVN® Offices Are Independently Owned & Operated
- Local Broker License Information: www.SFRhub.com/realestatelicensing
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Contacts
Michael Finch
SVN | SFRhub Marketplace
(480) 797-9825
Location
Getting Around
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Walk Score ®
Car-Dependent (38) -
Bike Score ®
Somewhat Bikeable (34)
- City Amarillo, TX
- Neighborhood Amarillo SouthWest
- Zip Code 79110
- Market Amarillo
Points of Interest
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Phillips 66
0.62 miles
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Valero
0.88 miles
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Valero
1.10 miles
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Phillips 66
1.21 miles
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pack a sack
1.26 miles
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toot 'n totum
1.26 miles
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Phillips 66
1.75 miles
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Toot-n-Totum
1.76 miles
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Toot"n Totum
1.89 miles
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Love's
1.96 miles
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Harrington Employee Parking
4.38 miles
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Employee Parking Lower Level B
4.47 miles
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Patient & Visitor Parking A
4.48 miles
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Employee Parking Lower Level D&E
4.52 miles
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Patient & Visitor Parking C
4.54 miles
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Employee Parking
4.63 miles
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paddock
5.15 miles
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City of Amarillo Parking Garage
5.54 miles
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Sonic
0.56 miles
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Subway
0.57 miles
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Arby's
0.96 miles
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Pizza Planet
1.01 miles
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Taco Villa
1.02 miles
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Sonic
1.09 miles
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Chicken Express
1.10 miles
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Jorge's Mexican Bar & Grill
1.13 miles
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Domino's
1.16 miles
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Popeyes
1.16 miles
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City View Elementary School
0.83 miles
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Western Plateau Elementary School
1.27 miles
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Gene Howe Elementary School
1.35 miles
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South Georgia Elementary School
1.46 miles
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South Georgia Elementary School
1.46 miles
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Bonham Middle School
1.53 miles
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Windsor Elementary School
1.60 miles
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Randall High School
1.81 miles
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Arden Road Elementary School
1.86 miles
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Fannin Middle School
1.98 miles
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Imagination Station
1.33 miles
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Unique Individuals
2.10 miles
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Children's Circle of Friends
2.95 miles
Contact Listing Broker
Michael Finch
SVN | SFRhub Marketplace
(480) 797-9825