2415 S Coulter | Amarillo, TX 79106
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- LoopNet Team
2415 S Coulter
Amarillo, TX 79106
The Westminster Apartments · Multifamily Property For Sale
·
97 Units
INVESTMENT HIGHLIGHTS
- Attractive assumable financing available through Freddie Mac including a fixed rate period with 3 years remaining at 3.56%.
- Over $300k of CAPEX injected into the apartments since 2020 including a new chiller system in 2022.
- Projected 5 Year Average Cash on Cash Return 6.8%
- Strong property fundamentals resulting in consistent occupancy and collections of 90% or greater.
- Great location within Amarillo with access to all major employers and attractions.
- Projected 5 Year Levered IRR 19.3%
PROPERTY FACTS
| No. Units | 97 | Building Size | 53,865 SF |
| Property Type | Multifamily | Average Occupancy | 97% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1974 |
| Building Class | C | Parking Ratio | 3.77/1,000 SF |
| Lot Size | 2.21 AC | ||
| Zoning | C-3 | ||
| No. Units | 97 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.21 AC |
| Building Size | 53,865 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 3.77/1,000 SF |
| Zoning | C-3 |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Pool
- Property Manager on Site
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 88 | - | 400 |
| 2+2 | 8 | - | 600 |
| 3+2 | 1 | - | 1,200 |
PROPERTY TAXES
| Parcel Number | R-001-1800-7080-0 | Improvements Assessment | $1,836,127 |
| Land Assessment | $673,873 | Total Assessment | $2,510,000 |
PROPERTY TAXES
Parcel Number
R-001-1800-7080-0
Land Assessment
$673,873
Improvements Assessment
$1,836,127
Total Assessment
$2,510,000
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