469-210-1732
2601 N Grand St, Amarillo, TX for Sale
Apartments - FOR SALE
1/11
null | Request Cap Rate

2601 N Grand St
Amarillo, TX 79107


HIGHLIGHTS

  • ATTRACTIVE ASSUMABLE DEBT – FIXED 3.57% RATE
  • LIMITED MARKET COMPETITION – STRONG RENT & OCCUPANCY STABILITY
  • OPTIMAL UNIT MIX – LARGER FLOOR PLANS DRIVE REVENUE

OVERVIEW

ATTRACTIVE ASSUMABLE DEBT — FIXED 3.57% RATE The Property offers an assumable Freddie Mac loan at a favorable 3.57% fixed interest rate with approximately 39 months of fixed-rate term remaining, after which the loan transitions to a floating rate. The current balance is just south of $5.5 million. This is a rare opportunity to capitalize on an extraordinarily cheap debt, resulting in stronger cash flows. LIMITED MARKET COMPETITION — STRONG RENT & OCCUPANCY STABILITY Positioned in North Amarillo, Cross Timbers has little competition compared to the other submarkets across the city. Cross Timbers should benefit from this supply constraint with strong occupancy, retention, and rental rates. OPTIMAL UNIT MIX —LARGER FLOOR PLANS DRIVE REVENUE With a well-balanced unit mix of 32 one-bedroom units, 80 two-bedroom units, and 24 three-bedroom units, Cross Timbers caters to a broad tenant base, including families and professionals seeking more space. Larger units and bedroom counts not only command premium rent but also contribute to longer lease durations and reduced turnover costs, ensuring sustained operational efficiency.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

136

CAP RATE

Request Cap Rate

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cross Timbers at Grand Street

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1981

PARKING SPACES

241

LAND DETAILS

LAND ACRES

8 AC

LAND SF

348,415 SF

ZONING

MF1

APN/PARCEL ID

R-073-0500-5000-0

ASK ABOUT THIS PROPERTY

William MeeksGreysteelMore Info
469-210-1732

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William MeeksGreysteelMore Info
469-210-1732

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.