210-317-1179
701 N Mirror St, Amarillo, TX for Sale
Multi-Family - FOR SALE
1/10
null | Request Cap Rate

701 N Mirror St
Amarillo, TX 79107


HIGHLIGHTS

  • 20-unit value-add apartment community consisting of five residential fourplexes with additional upside remaining through continued renovations.
  • Detached 1,600 SF commercial laundry facility. Ownership states the building can accommodate approximately 20 washers & 10 dryers
  • Substantial capital improvements completed. Allows a new owner to focus on finishing increasing income by finishing the renovation program.

OVERVIEW

Mirror Plaza Apartments offers investors the opportunity to acquire a partially renovated 20-unit multifamily community with significant remaining upside. The property consists of five residential fourplex buildings together with a detached commercial laundry facility. Extensive capital improvements have already been completed on four of the apartment buildings, while one building remains available for renovation. This allows a new owner to complete the business plan and capture additional rental growth. A unique feature of the offering is the approximately 1,600-square-foot commercial laundry building (per Potter County Appraisal District). Ownership reports the facility is capable of accommodating approximately 20 commercial washers and 10 commercial dryers, providing the potential to create an additional income stream serving the Mirror Plaza and the surrounding neighborhood. For investors seeking a combination of current cash flow and measurable value-add potential, Mirror Plaza provides multiple opportunities to increase net operating income through continued renovations, occupancy improvements, ancillary income, and operational efficiencies.

FOR SALE DETAILS

PRICE

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# OF UNITS

20

CAP RATE

Request Cap Rate

% LEASED

80%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mirror Plaza Apartments

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1962

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.86 AC

LAND SF

37,462 SF

ZONING

MF-1

APN/PARCEL ID

214032

ASK ABOUT THIS PROPERTY

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210-317-1179

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Steve GuzekPhyllis browning commercialMore Info
210-317-1179

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