1911 S Madison St
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1911 S Madison St
6 Unit Apartment Building $1,095,000 ($182,500/Unit) 7.75% Cap Rate Amarillo, TX 79109
Executive Summary
Presenting a prime investment opportunity in Amarillo, TX, this multifamily property boasts a 4,440 SF building with six units, all constructed in 2020. Zoned as Multi Family - 2, this turnkey asset is currently operating as short-term rentals but has several long-term leases previously. The modern construction and only being 4 years old make this property an enticing prospect for multifamily and low-rise/garden investors seeking a lucrative addition to their portfolio. With its prime location and strong rental history, this property sets the stage for a seamless and profitable investment in the Amarillo market.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$167,857
|
$37.81
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$167,857
|
$37.81
|
| Taxes |
$6,894
|
$1.55
|
| Operating Expenses |
$76,059
|
$17.13
|
| Total Expenses |
$82,953
|
$18.68
|
| Net Operating Income |
$84,904
|
$19.12
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $167,857 |
| Annual Per SF | $37.81 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $167,857 |
| Annual Per SF | $37.81 |
| Taxes | |
|---|---|
| Annual | $6,894 |
| Annual Per SF | $1.55 |
| Operating Expenses | |
|---|---|
| Annual | $76,059 |
| Annual Per SF | $17.13 |
| Total Expenses | |
|---|---|
| Annual | $82,953 |
| Annual Per SF | $18.68 |
| Net Operating Income | |
|---|---|
| Annual | $84,904 |
| Annual Per SF | $19.12 |
Property Facts
| Price | $1,095,000 | Apartment Style | Low Rise |
| Price Per Unit | $182,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 7.75% | Building Size | 4,440 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 2020 |
| Price | $1,095,000 |
| Price Per Unit | $182,500 |
| Sale Type | Investment |
| Cap Rate | 7.75% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 4,440 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 2020 |
Unit Amenities
- Recreation Room
Site Amenities
- Furnished Units Available
- Community-Wide WiFi
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 6 | $2,330 | 750 |
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zoning
| Zoning Code | MF (Zoned Multi Family) |
| MF (Zoned Multi Family) |
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1911 S Madison St
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