22-Unit Apartment
For Sale
$899,000
620 West Amarillo Boulevard, Amarillo, TX 79107
Recent work covers plumbing, unit upgrades, and exterior improvements.
Property Size7,000 SF
Days on Market8
Property Features for 620 West Amarillo Boulevard
General Information
Standard status
Active
Size
7,000 SF
Property subtype
MF
Additional Details
Highway Access
Yes
Multifamily Units
22
Building Details
Building Size
7,000 SF
Year Built
1957
Stories
1
Units
21
Listing Agency:
Keller Williams Realty - KW Commercial - Accel Group
Listed By:
Greg Brownd · License #596497
(806) 777-4459
Source:
Realnex
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 12 at 4:32PM
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 Keller Williams Realty - KW Commercial - Accel Group
Investment Insights
Based on property information with market context.
This 22-unit multifamily property in Amarillo was built in 1957. Renovation work has included plumbing, improvements to the units, and exterior updates.
The property is located at 620 West Amarillo Boulevard, with access to major national and state highway systems.
The property is located at 620 West Amarillo Boulevard, with access to major national and state highway systems.
Key Highlights
- 22‑unit multifamily property
- Built in 1957
- Renovations include plumbing, unit upgrades, and exterior improvements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,425
Cap Rate
5.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$928,500
$928.5K
Cap Rate 7%
$663,214
$663.2K
Cap Rate 9%
$515,833
$515.8K
Market Conditions
NOI Build-Up for 7,000 SF
Gross rent
$89.0K $12.72/SF
− Vacancy
−$4.6K −$0.66/SF
EGI
$84.4K $12.06/SF
− OpEx
−$38.0K −$5.43/SF
NOI
$46.4K $6.63/SF
Area
Amarillo, TX
Vacancy
5.20%
Lease Rate
$12.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$928,500
Cap Rate 7%
$663,214
Cap Rate 9%
$515,833
Alternative Uses
Best Use
Apartment 5plus
$663.2K
$580.3K – $773.8K
NOI $46,425 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.37M – $1.82M
NOI $109,402 @ 7.0% cap · market cap 12.17%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
22
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
471
Businesses Nearby
Explore this area
Business Placement
Demographics for 79107, TX
37,480
Population
12,346
Households
3
Avg Household Size
34
Median Age
6%
College-Educated
61%
High-School Grad
19.6 sq mi
ZIP Area
1,912
Density / Sq Mi
$39,474
Median Household Income
$28,084
Median Earnings
$1,016
Median Rent
$88,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Recent work covers plumbing, unit upgrades, and exterior improvements.
Where is this apartment building located?
The property is located at 620 West Amarillo Boulevard Amarillo, TX.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 22‑unit multifamily property; Built in 1957; Renovations include plumbing, unit upgrades, and exterior improvements
