Nelson Street Apartments | 601 S Nelson St
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Nelson Street Apartments 601 S Nelson St
48 Unit Apartment Building $2,995,000 ($62,396/Unit) 7.41% Cap Rate Amarillo, TX 79104
Investment Highlights
- 47 of 48 units remodeled
- New owner can implement RUBS
- High traffic volume
Executive Summary
Value add opportunity, 47 of 48 units remodeled, strong Texas market, new owner can implement
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,995,000 | Apartment Style | Garden |
| Price Per Unit | $62,396 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.23 AC |
| Cap Rate | 7.41% | Building Size | 25,636 SF |
| No. Units | 48 | Average Occupancy | 96% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1977/2015 |
| Price | $2,995,000 |
| Price Per Unit | $62,396 |
| Sale Type | Investment |
| Cap Rate | 7.41% |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.23 AC |
| Building Size | 25,636 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built/Renovated | 1977/2015 |
Unit Amenities
- Air Conditioning
- Balcony
- Disposal
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 28 | $625.00 | 487 |
| 2+1 | 20 | $750.00 | 600 |
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PROPERTY TAXES
| Parcel Number | R-035-6400-0240-0 | Total Assessment | $1,067,912 |
| Land Assessment | $10,716 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,057,196 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
R-035-6400-0240-0
Land Assessment
$10,716
Improvements Assessment
$1,057,196
Total Assessment
$1,067,912
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
zoning
| Zoning Code | 2F |
| 2F |
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Nelson Street Apartments | 601 S Nelson St
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