Atrea Inn 2035 Paramount Blvd 20 Unit Apartment Building $1,200,000 ($60,000/Unit) 9.73% Cap Rate Amarillo, TX 79109
EXECUTIVE SUMMARY
This 20-unit property is ideally situated in the heart of Amarillo, TX. This recently renovated building offers an exceptional investment opportunity in an excellent location. The property's flexibility allows for both short- and long-term rentals, with the potential for conversion into efficiency apartments, further expanding its appeal and versatility as a high-yield investment. Significant capital improvements have been made, including a newer roof, windows, 100% replacement of plumbing within & to the building, and new AC units in each room. Every unit has been completely gutted and redone, featuring extensive renovations such as new doors and frames, fresh paint and texture, updated bathrooms with new tubs, toilets, sinks, and vanities, as well as flooring throughout.
PROPERTY FACTS
| Price | $1,200,000 |
| Price Per Unit | $60,000 |
| Sale Type | Investment |
| Cap Rate | 9.73% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.36 AC |
| Building Size | 5,760 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1972/2021 |
| Parking Ratio | 11.11/1,000 SF |
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Business Center
- Courtyard
- Picnic Area
- Lounge
PROPERTY TAXES
| Parcel Number | R-078-1840-0060-0 | Improvements Assessment | $1,496,500 |
| Land Assessment | $258,093 | Total Assessment | $1,754,593 |
ZONING
| Zoning Code | GR/LC |
