Remodeled Fourplex
701 Southwest 15th Avenue Amarillo, TX 79101
For Sale
$449,000
Four income-producing units with three remodeled interiors, offering a straightforward residential income setup for investors.
Property Size3,696 SF
Price / SF$121.48
Days on Market95
Property Features for 701 Southwest 15th Avenue
General Information
- Standard status
- Active
- Size
- 3,696 SF
- Property subtype
- MultiFamily
Building Details
- Year Built
- 1926
Listing Agency:
Wieck Realty, Inc.
(806) 654-9955
Listed By:
Kathryn Tow · License #709172
(806) 654-9955
Source:
Compass
Added: Apr 21
Changed: Jul 10
Last Checked: Jul 23 at 11:07AM
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 Wieck Realty, Inc.
Investment Insights
Based on property information with market context.
This well-maintained fourplex contains four separate income-producing units. Unit 1 is configured with 2 bedrooms and 1 bathroom. Units 2, 3, and 4 each offer 1 bedroom and 1 bathroom. Three of the units have been fully remodeled and updated, featuring refreshed finishes intended to improve day-to-day rental appeal.
The property is located at 701 Southwest 15th Avenue in Amarillo, Texas. Showings require 24-hour notice, and tenants must not be disturbed.
For buyers seeking a small multifamily purchase, this asset provides a balanced mix of unit types, with the majority of the units already updated. The existing four-unit structure can support long-term residential income planning, while the remodeled interiors may help reduce turnover-related work compared with a unit mix that is still awaiting updates.
The property is located at 701 Southwest 15th Avenue in Amarillo, Texas. Showings require 24-hour notice, and tenants must not be disturbed.
For buyers seeking a small multifamily purchase, this asset provides a balanced mix of unit types, with the majority of the units already updated. The existing four-unit structure can support long-term residential income planning, while the remodeled interiors may help reduce turnover-related work compared with a unit mix that is still awaiting updates.
Key Highlights
- Four income‑producing units in a two‑story fourplex built in 1926
- Three units have been fully remodeled and updated
- Unit mix: Unit 1 is 2 bed/1 bath; Units 2, 3, and 4 are each 1 bed/1 bath
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
NOI $27,872 @ 7.0% cap · market cap 6.21%
Second Best
Apartment 5plus
$350.2K
$306.4K – $408.6K
NOI $24,513 @ 7.0% cap · market cap 5.46%
Theoretical Best
Office A
$825.2K
$722.1K – $962.7K
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
FAQs
What type of property is this?
Quadplex - Four income-producing units with three remodeled interiors, offering a straightforward residential income setup for investors.
Where is this quadplex located?
The property is located at 701 Southwest 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 in a two‑story fourplex built in 1926; Three units have been fully remodeled and updated; Unit mix: Unit 1 is 2 bed/1 bath; Units 2, 3, and 4 are each 1 bed/1 bath
