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    Amarillo Fourplex: Investment Opportunity

    701 SW 15TH Avenue Amarillo, TX 79101

    701 SW 15TH Avenue, Amarillo, TX, 79101
    $449,000
    For Sale
    Claim this Listing
    $449,000

    MULTI_FAMILY - Amarillo, TX

    Property Size3,696 SF
    Price / SF$121.48
    AddedMay 29
    Days on Market49
    Last RefreshJul 16 at 2:06 pm

    Property Features for 701 SW 15TH Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Exterior features
    Balcony
    Standard status
    Active
    APN
    214170
    Size
    3,696 SF

    Taxes and HOA fees

    Tax Description
    PLEMONS, BLK 0218, E 70 OF N 75 OF LOT 1, 0.1200 ACRES

    Building Details

    Year built
    1926

    Listing agent Kathryn Tow

    Listing office Wieck Realty, Inc. 3131 Bell St Ste 104, Amarillo, TX

    Listing date May 29, 2026

    MLS# 26-4365 Listing URL

    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.

    This well-maintained fourplex in Amarillo, TX, presents an excellent investment opportunity. The property comprises four income-producing units. Three of the units have been fully remodeled and updated, offering attractive rental appeal. Unit 1 includes 2 bedrooms and 1 bathroom, while Units 2, 3, and 4 each feature 1 bedroom and 1 bathroom. The property size is 3696 square feet. The remodeled units showcase updated finishes.

    Key Highlights

    • Four Income‑Producing Units: Provides immediate and diversified rental income.
    • Three Remodeled Units: Offers updated finishes and increased rental appeal.
    • Well‑Maintained Property: Suggests responsible ownership and reduced maintenance concerns.

    Local Financial Insights For Multifamily LT 5

    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 $42.1k $11.40
    − Vacancy −$2.3k −$0.63
    EGI $39.8k $10.77
    − OpEx −$11.9k −$3.23
    NOI $27.9k $7.54
    3,696 SF · lease $11.40/SF/yr · vacancy 5.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $398.2K
    $348.4K – $464.5K (±1% cap)
    NOI $27,872 @ 7.0% cap · market cap 6.21%
    Second Best
    Apartment 5plus
    $350.2K
    $306.4K – $408.6K (±1% cap)
    NOI $24,513 @ 7.0% cap · market cap 5.46%
    Theoretical Best
    Office A
    $825.2K
    $722.1K – $962.7K (±1% cap)
    NOI $57,764 @ 7.0% cap · market cap 12.87%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Grocery & Convenience Store Locksmith (Bike/Boat/Book/etc) Store Acupuncture Pet Grooming Service Florist (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Carpet & Flooring Store Bakery

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Quadplex - Well-maintained fourplex with remodeled units and income potential.
    Where is this quadplex located?
    The property is located at 701 SW 15TH Avenue Amarillo, TX.
    What is the asking price?
    The asking price for this property is $449,000.
    What are key features of this property?
    This property features: Four Income‑Producing Units: Provides immediate and diversified rental income.; Three Remodeled Units: Offers updated finishes and increased rental appeal.; Well‑Maintained Property: Suggests responsible ownership and reduced maintenance concerns.
    Contact an agent
    (806) 236-4003
    We can help!
    Contact an agent
    Kathryn Tow
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