Amarillo Fourplex: Investor
1224 SW 11TH Avenue Amarillo, TX 79101
For Sale
Contact for pricing
Well-maintained fourplex in high-demand rental area near downtown Amarillo.
Property Size3,752 SF
Price / SF$81.29
Days on Market63
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 Agency:
Real Broker, LLC
(806) 673-6418
Listed By:
Shaye Olsen · License #744565
Source:
Crexi
Added: May 26
Changed: Jul 10
Last Checked: Jul 26 at 12:38PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker, LLC
Investment Insights
Based on property information with market context.
This fourplex presents an investor opportunity in Amarillo. Located minutes from downtown, the property at 1224 SW 11th Ave is a well-maintained building with immediate cash flow, as all four units are currently leased. The property, totaling 3,752 square feet, features two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units, offering rental appeal and flexibility for tenants. A new roof was installed in 2018, and the property has been kept in solid overall condition. Requiring mostly cosmetic improvements, this property is a value-add opportunity for investors seeking to increase equity and rental potential without major renovations. The income-producing property is situated in a high-demand rental area with long-term upside.
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.
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Well-maintained fourplex in high-demand rental area near downtown Amarillo.
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: 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.
