10507 Broadway Dr Amarillo, TX 79108
- Residential income homes
- 924 SF
- 2.00 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 10507 Broadway Dr
- Year built
- 1984
- Lot size
- 2.00 lot acres
- Property size
- 924 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a well-maintained, six-unit single-family rental portfolio situated on a two-acre lot in Amarillo, Texas. The property, built in 1984, boasts a total of 924 square feet and features six two-bedroom homes and three RV spaces, all nestled amongst mature trees and landscaping. Tenants are responsible for their own utilities, while the property owner covers water (supplied by two wells) and garbage disposal. The property includes gravel drives, designated parking, a community storm shelter, four septic tanks, and numerous storage buildings and well houses, offering potential for additional income streams by renting out these spaces. Covered parking is also available. The property's country setting just north of Amarillo city limits allows for potential expansion. The current occupancy rate is 90%. The property's gross income over the past twelve months (as of August 28, 2024) exceeded $59,700, generating a net operating income (NOI) of $3,780. The asking price is $479,900, resulting in a price per square foot of $530.19. There is potential for adding tiny homes or additional RV spaces. A local bank is prepared to offer financing up to 80% LTV. Serious inquiries are encouraged.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Amarillo
- County
- Potter
- State
- Texas
- Longitude
- -101.85
- Latitude
- 35.3192
