La Luna Luxury Suites
Market Price
620 W Amarillo Blvd, Amarillo, TX 79107
8,600 sqft
Building Size
0.4622 acres
Lot Area
Details:
Highlights:
- Intense Recent Renovations
- Offered at over an 8% cap on T3 Financials
- Conveniently Located Near multiple Major Highways
Description:
La Luna Luxury Suites is a 22 unit motel-turned-multifamily property with convenient access to both major national and state highway systems. Current ownership has contributed roughly $264k in recent renovations towards the plumbing, unit upgrades, exterior improvements, and other vital items. This offers new ownership to purchase the property with the heavy-lift items taken care off, allowing new owners to purchase a cash flowing property while maintaining the ability to add value through minimal capital investment.
In addition to the property's access to major highways, La Luna Luxury Suites also boasts a five minute drive to downtown Amarillo and entertainment such as Hodgetown Stadium. The main employment sectors of the area, cattle and healthcare, are two sectors that will never go out of style. In the short term, the city of Amarillo has received national attention in the planned datacenter coming to the area that will further bolster the local economy.
Location
Gallery
