Veranda Gardens Amarillo, TX

Investment Highlights

• Amarillo Experiencing 3.5% Annual Rent Growth
• Over 1.96MM in Capital Improvements
• Offered Free and Clear of Existing Debt
• Strong Workforce Housing with Historically High Occupancy Outlook
• Amenities And Location Support Resident Retention and Rent Growth
• Low 7% Cap Rate Going in and Trending Upward

Over 1.96MM in Capital Improvements

Current ownership has spent $1.96MM in capital improvements, significantly enhancing both the property’s physical condition and long-term performance. These upgrades position the asset competitively within its submarket and reduce near-term maintenance risk for a new buyer.

Offered Free and Clear of Existing Debt; Flexible Financing Supported

The property provides buyers the flexibility to tailor financing solutions to current market conditions. The straightforward physical plant and smaller scale enable efficient execution of renovations, and buyers can utilize bank or agency fixed or floating rate structures with potential interest-only periods to align with renovation timelines.

Strong Workforce Housing with Historically High Occupancy Submarket

Amarillo’s diverse employer base, constrained new supply, and accessible transportation network—anchored by easy connectivity to I-40 and I-27 supporting commuter and logistics flows—underpin stable occupancy and rent growth potential. The trade area includes retail nodes such as Wolflin Village and Westgate Mall, with multiple Starbucks and Chick-fil-A locations in the broader market indicating strong mainstream retail demand.

Amenities