701 Southwest 15th Avenue, Amarillo, TX 79101
Four income-producing units with three remodeled interiors, offering a straightforward residential income setup for investors.
- Added:
- May 26, 2026
- Days on Market:
- 14
- Last Refresh:
- Jun 6 at 2:20 am
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 agent Kathryn Tow License #709172 (806) 654-9955
Listing office Wieck Realty, Inc. (806) 654-9955
Listing date May 26, 2026
Source Compass
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.
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
- Updated finishes in remodeled units designed to support rental appeal
- 24‑hour notice required for all showings; please do not disturb tenants
Overview
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.
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Amarillo
- County
- Randall
- State
- Texas
- Longitude
- -101.8466831
- Latitude
- 35.199189
