1224 SW 11TH Avenue Amarillo, TX 79101
Well-maintained fourplex in high-demand rental area near downtown Amarillo.
Property Features for 1224 SW 11TH Avenue
General Information
- Standard status
- Active
- Size
- 3,752 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1954
Listing office MPACT REAL ESTATE TEAM (806) 673-6418
Listing date May 26, 2026
Source Crexi
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Investment Insights
Based on property information with market context.
Key Highlights
- Immediate cash flow with all four units currently leased.
- Prime value‑add opportunity with mostly cosmetic improvements needed.
- Convenient location minutes from downtown Amarillo in a high‑demand rental area.
Local 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 |