4-Unit Apartment
New
For Sale
$425,000
701 SW 15th Avenue, Amarillo, TX 79101
MultiFamily, Amarillo, TX
Property Size3,696 SF
Price / SF$114.99
Days on Market1
Property Features for 701 SW 15th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
0100 - NW Amarillo in City Limits
Exterior features
Balcony
Directions
West on I-40 to Washington, then right on 15th Ave. The apartment is on the right at the corner of 15th and Madison.
Subdivision
0100 - Plemons
Standard status
Active
APN
214170
Size
3,696 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Description
PLEMONS, BLK 0218, E 70 OF N 75 OF LOT 1, 0.1200 ACRES
Legal Description
PLEMONS, BLK 0218, E 70 OF N 75 OF LOT 1, 0.1200 ACRES
Building Details
Year built
1926
Listing Agency:
Wieck Realty, Inc.
(806) 236-4003
Listed By:
Kathryn Tow · License #709172
(806) 654-9955
Added: Oct 29
Last Checked: Oct 29 at 7:06PM
MLS# 26-8539
Copyright © 2026 Amarillo Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,696-square-foot multifamily property contains four apartments. One residence has two bedrooms and one bathroom; each of the other three has one bedroom and one bathroom. Three units have been remodeled, and the property includes a balcony.
Built in 1926, the building offers a compact four-unit configuration with a mix of apartment layouts.
Built in 1926, the building offers a compact four-unit configuration with a mix of apartment layouts.
Key Highlights
- Four apartments totaling 3,696 square feet
- Three of the four units have been remodeled
- One 2‑bedroom, 1‑bathroom unit and three 1‑bedroom, 1‑bathroom units
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,453
Businesses Nearby
Explore this area
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Three residences have remodeled interiors, and the unit mix includes 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 apartments totaling 3,696 square feet; Three of the four units have been remodeled; One 2‑bedroom, 1‑bathroom unit and three 1‑bedroom, 1‑bathroom units
