Amarillo Fourplex: Investor
1224 SW 11TH Avenue Amarillo, TX 79101
For Sale
Under Contract
$305,000
MULTI_FAMILY - Amarillo, TX
Property Size3,752 SF
Price / SF$81.29
Days on Market53
Property Features for 1224 SW 11TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Rooms
Bathroom 4, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bedroom 6, Bedroom 4, Bathroom 3, Bathroom 2, Bedroom 5
Appliances
Microwave, Disposal, Dishwasher, Cooktop
Standard status
Active Under Contract
Size
3,752 SF
Taxes and HOA fees
Tax Description
ELIZABETH ADDN, BLK 0003, S IRREG 75FT OF BLK
Utilities
Cooling system
Central Air, Electric
Building Details
Year built
1954
Number of units
4
Building materials
Frame
Roof type
Composition
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Derek Manasco
(214) 202-7615
Added: Jun 8
Changed: Jul 12
Last Checked: Jul 30 at 4:06AM
MLS# 26-3777
Copyright © 2026 Amarillo Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in the heart of Amarillo, this well-maintained fourplex at 1224 SW 11th Ave presents an investor opportunity with immediate cash flow, as all four units are currently leased. The property, totaling 3752 square feet, features a mix of unit sizes, including two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units, providing rental appeal and flexibility for various tenants. A new roof was installed in 2018, and the property has been kept in solid overall condition. Requiring mostly cosmetic improvements, this property offers a value-add opportunity for investors seeking to increase equity and rental potential without major renovations. Situated minutes from downtown Amarillo, this income-producing property is located in a high-demand rental area with long-term upside.
Key Highlights
- Fourplex at 1224 SW 11th Ave with all four units currently leased
- Unit mix: two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units
- New roof installed in 2018; overall property described as well maintained
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.7k | $12.72 |
| − Vacancy | −$2.5k | −$0.66 |
| EGI | $45.2k | $12.06 |
| − OpEx | −$20.4k | −$5.43 |
| NOI | $24.9k | $6.63 |
3,752 SF · lease $12.72/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$404.2K
$353.7K – $471.6K
NOI $28,294 @ 7.0% cap · market cap 9.28%
Second Best
Apartment 5plus
$355.5K
$311.1K – $414.7K
NOI $24,884 @ 7.0% cap · market cap 8.16%
Theoretical Best
Office A
$837.7K
$733.0K – $977.3K
NOI $58,639 @ 7.0% cap · market cap 19.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained Amarillo fourplex with immediate cash flow and upside.
Where is this quadplex located?
The property is located at 1224 SW 11TH Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: Fourplex at 1224 SW 11th Ave with all four units currently leased; Unit mix: two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units; New roof installed in 2018; overall property described as well maintained
