OFF MARKET - Amarillo, Texas
Amarillo Deal Summary
Property: 3602 E Amarillo Blvd, Amarillo, TX 79107
Current Market Value: $1,523,148.76 (7.26% cap rate)
Stabilized Value: $1,846,644
Selling Price: $995,000
Value-Add Potential – Kitchenette Addition
• Plan: Install 12 kitchenettes across remaining units
• Cost: $125,000 (materials & labor)
• Projected Rent Increase:
• 21 Studio Units: $813/month = $17,073
• 2 One-Bed Houses: $1,904
• Total Gross Rent: $18,977/month
Financial Projections
• Adjusted NOI (90% occupancy, 40% expenses): $11,172/month
• Annual NOI: $134,064
• Projected Valuation (at 7.26% cap rate): $1,846,611
Offering
Amarillo, Texas