| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Poor |
| Demographics | 13th | Poor |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1600 Dale St, Amarillo, TX, 79107, US |
| Region / Metro | Amarillo |
| Year of Construction | 1978 |
| Units | 120 |
| Transaction Date | 2007-05-23 |
| Transaction Price | $5,675,000 |
| Buyer | LAKEVIEW APARTMENTS LLC |
| Seller | BAKER DAVID |
1600 Dale St Amarillo Multifamily Investment Potential
Neighborhood occupancy is soft but renter demand is supported by a moderate renter-occupied base and everyday amenities, according to WDSuite’s CRE market data. For investors, pricing power may be measured, yet stability can lean on workforce demand and improving crime trends at the neighborhood level.
Located in Amarillo’s inner-suburb fabric, the neighborhood rates C+ and trends middle-of-the-pack locally, with everyday conveniences that matter for workforce tenants. Parks and groceries are relative strengths (top decile nationally for park access and strong grocery density), while restaurants are above average nationally; cafes and pharmacies are sparse. School quality trends below the metro median among 87 neighborhoods, which may influence tenant mix and family appeal.
The property’s 1978 vintage is slightly older than the neighborhood’s average construction year (early 1980s), implying near- to medium-term capital planning and presenting value-add or modernization angles to improve competitiveness versus newer stock. Typical unit sizes here skew efficient, which can align with cost-conscious renters if finishes and systems are kept current.
Renter concentration in the neighborhood is around two-fifths of housing units, competitive among Amarillo neighborhoods and supportive of a steady tenant base. Within a 3-mile radius, demographics show recent population contraction but a forecast increase in households by 2028, signaling potential renter pool expansion that can aid occupancy and lease-up, based on commercial real estate analysis from WDSuite.
Ownership costs are relatively accessible for the metro, which can create some competition with homeownership; however, median rents remain modest and rent-to-income ratios are manageable, supporting retention for value-oriented product. For revenue management, that suggests disciplined renewals and selective upgrades may be more effective than aggressive premium strategies.
Neighborhood safety indicators are mixed but improving. Overall crime levels sit slightly better than the national middle, and property crime has improved notably year over year, placing the area in the top quartile nationally for improvement according to WDSuite’s CRE market data. While investors should underwrite standard security and lighting upgrades common to 1970s assets, recent trend direction is constructive at the neighborhood level.
Nearby employment is anchored by utility operations that draw a steady regional workforce, supporting renter demand and commute convenience for value-focused residents. The employer listed below reflects accessible job centers within a practical drive.
- Xcel Energy — utility operations (6.9 miles)
This 120-unit, 1978 vintage asset offers workforce-oriented positioning in an inner-suburb pocket with strong parks and grocery access and a renter base that is competitive locally. According to CRE market data from WDSuite, neighborhood occupancy is subdued and school ratings trend below the metro median, which argues for careful underwriting and an operational focus on renewals and make-ready speed. The vintage suggests clear value-add levers through systems upgrades and interior refreshes to bolster leasing competitiveness against early-1980s stock.
Within a 3-mile radius, recent population softness is countered by a projected increase in households by 2028, indicating a larger tenant base over the medium term. Modest rent levels and manageable rent-to-income dynamics support retention; however, relatively accessible ownership options may temper rent growth outperformance, favoring a strategy centered on occupancy stability and targeted renovations.
- Workforce location with strong park and grocery access supporting day-to-day livability
- 1978 vintage provides value-add pathway via systems and interior updates
- Renter-occupied share competitive locally, with forecast household growth within 3 miles
- Modest rents and manageable rent-to-income support retention and lease stability
- Risks: subdued neighborhood occupancy, lower school ratings, and potential competition from relatively accessible ownership