Tyler Apartments

Description:

The Tyler apartments is a centrally located 10 unit apartment building in Amarillo Texas. There is a mix of 1 bedroom units, 2 bedroom units, and a studio apartment. The Tyler apartments has access to garage parking, and an onsite laundry room. 


The Tyler apartments is conveniently located in Downtown Amarillo within walking distance to some of the cities largest employers. In 2021 the city of Amarillo multifamily owners experienced aggressive rent growth of nearly 7.3% while maintaining a 92.7% market occupancy according to ALN market data. The Tyler apartments are perfectly positioned to absorb the continued growth of Amarillo.


These apartments are currently being operated as an all bills paid property. New ownership has the opportunity to convert to a tenant paid model through RUBS for water, and already in-place meters for electricity and gas. New ownership will have the opportunity to complete a water conservation study for all 10 units. Conservatively, this project will reduce the new ownership's water bill by 35%.
Current ownership has already injected more than $250k in CAPEX since 2017
This includes: New Roof, individual Mini Splits, Exterior improvements, and a laundry facility.