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$12,500,000
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| | Building S.F. | 174,769 | |
| | No. of Buildings | 19 | |
| | Total Units | 224 | |
| | Land Acres | 8.06 | |
| | Cross Street | W. 34th Avenue | |
| | Tax Parcel Number | R-073-0530-4940.0 | |
| | Market | NW Texas Panhandle | |
| | Sub Market | Amarillo | |
| | No. of Outdoor Pools | 1 | |
| | No. of Outdoor Tennis Courts | 1 | |
| | Year Built | 1984 | |
| | No. of Stories | 2 | |
| | Year Renovated | 2003 | |
| | Building Class | A | |
| | Location Class | A | |
| | Roof Type | Asphalt shingles | |
| | Foundation Type | Concrete Slab | |
| | Washer/Dryer | Hook-up | |
| | HVAC | individual | |
| | Zoning Type | Multi-Family | |
| | Fireplaces in Units | Yes | |
| | Cable TV | Yes | |
| | Internet Access | Yes | |
| | Clubhouse | Yes | |
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3420 South Coulter Street Amarillo, TX 79109
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Property Description
The property was voted Best Apartment Community in Amarillo for 2002 and 2003. Improvements to the property totaling $1,500,000 were made to the property in 2003. There is no deferred maintenance. The complex offers numerous amenities including clubhouse, exercise room, swimming pool, jacuzzi, sports courts, picnic areas and covered parking. There are 19 buildings with 224 units of which 213 are leased, giving it a vacancy rate of 5%. Eighteen of the buildings are apartments with one building used as a model and storage.
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Amenities/Facilities
Units include frost free refrigerators with ice makers, continuous cleaning ovens, washer/dryer connections, ceiling fans, walk in closets, and wood burning fireplaces or entertainment centers. Each unit has an outside storage area and a private balcony or patio.
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Location Description
The property has an excellent location near the northwest medical sector Amarillo along Coulter Street just off of W. 34th Street, nestled in one of Amarillo's best neighborhoods. The area is home to the new Westgate Mall, numerous restaurants and retail businesses and many upscale residential subdivisions. Coulter Street is a seven lane thoroughfare and offers easy access to Interstate 40, Amarillo's main East-West traffic artery. Chasewood is located just 15 minutes from all of Amarillo's major employment centers, including the Panhandle's Regional Medical facility. According to the Apartment Association's market survey results for June, 2006, the Amarillo Occupancy Rate is over 90%.Amarillo ranks in the top 20 % of Texas metro markets for low unemployment at 4.7 %, while the whole of Texas is at 5.5%
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