Nelson Street Apartments | 601 S Nelson St
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Nelson Street Apartments 601 S Nelson St
48 Unit Apartment Building $4,325,828 CAD ($90,121 CAD/Unit) 7.41% Cap Rate Amarillo, TX 79104
INVESTMENT HIGHLIGHTS
- 47 of 48 units remodeled
- New owner can implement RUBS
- High traffic volume
EXECUTIVE SUMMARY
Value add opportunity, 47 of 48 units remodeled, strong Texas market, new owner can implement
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $4,325,828 CAD | Apartment Style | Garden |
| Price Per Unit | $90,121 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.23 AC |
| Cap Rate | 7.41% | Building Size | 25,636 SF |
| No. Units | 48 | Average Occupancy | 96% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1977/2015 |
| Price | $4,325,828 CAD |
| Price Per Unit | $90,121 CAD |
| Sale Type | Investment |
| Cap Rate | 7.41% |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.23 AC |
| Building Size | 25,636 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built/Renovated | 1977/2015 |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Disposal
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 28 | $902.72 CAD | 487 |
| 2+1 | 20 | $1,083 CAD | 600 |
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PROPERTY TAXES
| Parcel Number | R-035-6400-0240-0 | Total Assessment | $1,515,367 CAD |
| Land Assessment | $15,206 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,500,161 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
R-035-6400-0240-0
Land Assessment
$15,206 CAD
Improvements Assessment
$1,500,161 CAD
Total Assessment
$1,515,367 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
ZONING
| Zoning Code | 2F |
| 2F |
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Nelson Street Apartments | 601 S Nelson St
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