4-Unit Multifamily
New
For Sale
$425,000
701 SW 15th Avenue, Amarillo, TX 79101
Three residences have been remodeled, with a mix of one- and two-bedroom layouts.
Property Size3,696 SF
Price / SF$114.99
Days on Market2
Property Features for 701 SW 15th Avenue
General Information
Standard status
Active
Size
3,696 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
4
Building Details
Year Built
1926
Buildings
1
Tenancy
Multi
Listing Agency:
Wieck Realty, Inc.
Listed By:
Kathryn Tow · License #TOWK
(806) 654-9955
Source:
Choosemeraki
Added: Oct 30
Last Checked: Oct 30 at 3:38PM
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 Wieck Realty, Inc.
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Investment Insights
Based on property information with market context.
This 3,696-square-foot quadplex, built in 1926, contains four units. The first unit has two bedrooms and one bathroom; each of the other three has one bedroom and one bathroom. Three units have been remodeled with updated finishes.
The property is at 701 SW 15th Avenue in Amarillo, Texas. Showings require 24-hour notice, and tenants should not be disturbed.
The property is at 701 SW 15th Avenue in Amarillo, Texas. Showings require 24-hour notice, and tenants should not be disturbed.
Key Highlights
- Four units with a 2‑bedroom, 1‑bath layout in one and 1‑bedroom, 1‑bath layouts in the other three
- 3,696 square feet; built in 1926
- Three units have been remodeled with updated finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,872
Cap Rate
6.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$557,440
$557.4K
Cap Rate 7%
$398,171
$398.2K
Cap Rate 9%
$309,689
$309.7K
Market Conditions
NOI Build-Up for 3,696 SF
Gross rent
$42.1K $11.40/SF
− Vacancy
−$2.3K −$0.63/SF
EGI
$39.8K $10.77/SF
− OpEx
−$11.9K −$3.23/SF
NOI
$27.9K $7.54/SF
Area
Amarillo, TX
Vacancy
5.50%
Lease Rate
$11.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$557,440
Cap Rate 7%
$398,171
Cap Rate 9%
$309,689
Alternative Uses
Best Use
Multifamily LT 5
$398.2K
$348.4K – $464.5K
NOI $27,872 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$350.2K
$306.4K – $408.6K
NOI $24,513 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$825.2K
$722.1K – $962.7K
NOI $57,764 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,453
Businesses Nearby
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Business Placement
Demographics for 79101, TX
2,307
Population
1,309
Households
1.8
Avg Household Size
51
Median Age
15%
College-Educated
81%
High-School Grad
1.6 sq mi
ZIP Area
1,442
Density / Sq Mi
$40,313
Median Household Income
$36,409
Median Earnings
$898
Median Rent
$152,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Three residences have been remodeled, with a mix of one- and two-bedroom layouts.
Where is this quadplex located?
The property is located at 701 SW 15th Avenue Amarillo, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four units with a 2‑bedroom, 1‑bath layout in one and 1‑bedroom, 1‑bath layouts in the other three; 3,696 square feet; built in 1926; Three units have been remodeled with updated finishes
