Park View

Canyon, TX

Info For Buyers

Overview

Summary

Price $1,150,000
Address 2620 10th Ave, Canyon, TX 79015
# of Units 20
Rentable SF 15,072 SF
Year Built 1968

Park View Apartments is a 20-unit, partially renovated multifamily community located in Canyon in Randall County, Texas, a suburb of Amarillo. Built in 1968 and situated on .42 acres, the property is improved with a single two-story apartment building with brick siding and pitched roofs.

Park View Apartments offers open and spacious one-, two-, and three-bedroom units featuring full kitchens equipped with white appliances, formica countertops, faux hardwood and carpet flooring, spacious bedrooms, and new paint. Ample open surface parking is provided.

Key Facts

Prime location just blocks away from WTAMU campus. WTAMU has an enrollment of over 10,000 and has recently added a state of the art football stadium with capacity for 12,000 and a 150,000 sqft Agricultural Sciences Center.

There is an opportunity to add immediate scale by purchasing one or more of the other properties in the portfolio. E.g., Ponderosa and Pepper Tree & Four Seasons are within blocks from the property.

Amarillo is the second fastest growing mid-sized city in the nation.

Competing properties have waitlists and similar units rent at higher amounts. New ownership can take a hands-on approach to increase income.

Amarillo performs exceptionally well during economic slowdowns. The local economy increased 3.8% over Covid while the national economy shrank 2.8%.

There are numerous major economic projects slated to add over 4,500 jobs to the local economy in the next few years, including Producer Owned Beef building a $670M facility, as well as a new Amazon Fulfillment Center which will employ 500 workers.