| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Good |
| Demographics | 50th | Fair |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1550 Bell St, Amarillo, TX, 79106, US |
| Region / Metro | Amarillo |
| Year of Construction | 1982 |
| Units | 84 |
| Transaction Date | 2006-06-22 |
| Transaction Price | $3,750,000 |
| Buyer | SUMMIT RIDGE PROPERTIES LLC |
| Seller | AWF FUND II LLC |
1550 Bell St Amarillo Multifamily Investment Opportunity
The surrounding neighborhood shows a high share of renter-occupied housing, supporting a durable tenant base; according to WDSuite’s CRE market data, rent levels remain relatively accessible, which can aid retention and steady leasing.
Positioned in an Inner Suburb of Amarillo, the area carries a B+ neighborhood rating and is competitive among Amarillo neighborhoods (27 out of 87), based on CRE market data from WDSuite. Amenity access is a relative strength: restaurant and pharmacy density sit in the top quartile nationally, with cafes and groceries also above many U.S. neighborhoods. These daily-needs and dining options support renter convenience and leasing appeal.
Renter concentration in the neighborhood is very high, with a renter-occupied share among the highest in the metro (ranked 2 of 87). For investors, that depth of renter households points to a broad tenant base and consistent demand for multifamily units, though it can also heighten competition among properties on concessions and finishes.
Neighborhood occupancy is below many Amarillo neighborhoods (ranked 66 of 87) but has been relatively steady over the last five years, suggesting manageable volatility. Median asking rents track the metro middle, while a low rent-to-income profile indicates some headroom for measured rent growth and supports lease retention where properties deliver dependable maintenance and service.
Within a 3-mile radius, recent history shows slight softness in population and households, but projections point to growth in both through 2028, implying an expanding local renter pool and additional demand for rental units over time. Median home values in the neighborhood are lower relative to national norms, which can introduce some competition from ownership; however, more accessible ownership markets often coexist with steady workforce rental demand, where well-run communities compete on convenience and predictability.
Built in 1982, the property is slightly older than the neighborhood average (1984). This vintage typically benefits from targeted value-add—exterior refresh, interior updates, and selective system upgrades—to enhance competitive positioning versus newer deliveries and similarly aged stock.
Safety signals are mixed. Compared with Amarillo’s 87 neighborhoods, the area sits in the less-safe half, while nationally it trends slightly better than the midpoint. Property crime levels remain elevated versus national norms, but violent crime indicators sit closer to the national middle.
Trend data are constructive: year-over-year estimates indicate notable declines in both violent and property offenses, according to WDSuite’s CRE market data. For investors, this mix points to pragmatic risk management—lighting, access control, and resident engagement—while monitoring whether the improving trend persists.
Nearby employment is anchored by utility and energy services, providing stable, commuting-distance jobs that support renter demand and lease retention.
- Xcel Energy — utility services (2.5 miles)
This 84-unit, 1982-vintage asset sits in a renter-heavy Amarillo neighborhood with competitive amenity access and steady five-year occupancy trends. According to CRE market data from WDSuite, local rent levels remain relatively accessible, which supports retention and gives room for thoughtful, operations-driven rent growth as renovations elevate positioning.
The neighborhood’s high renter-occupied share signals a deep tenant base, while 3-mile projections for population and household growth suggest a larger pool of renters over the next five years. Lower local home values may create some ownership competition, but well-executed value-add and reliable management can differentiate on convenience and predictability, supporting occupancy and cash flow durability.
- Renter-heavy neighborhood supports a broad tenant base and consistent demand
- Amenity access (dining, pharmacies, groceries) enhances livability and leasing
- 1982 vintage offers value-add upside through targeted interior and systems upgrades
- Accessible rent levels aid retention with room for measured growth under effective management
- Risk: Neighborhood occupancy sits below many Amarillo areas; safety is mixed but improving—active management is key