| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Fair |
| Demographics | 47th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2800 Lometa Dr, Amarillo, TX, 79109, US |
| Region / Metro | Amarillo |
| Year of Construction | 1976 |
| Units | 48 |
| Transaction Date | 2019-10-31 |
| Transaction Price | $1,406,300 |
| Buyer | TWO BEL LOMETA LP |
| Seller | BUSCHMAN KIT |
2800 Lometa Dr Amarillo Multifamily Investment
Positioned in an inner-suburb pocket with strong daily amenities and a high renter concentration at the neighborhood level, this 48-unit asset targets steady workforce demand, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb neighborhood rated A and ranked 11 out of 87 in the Amarillo metro, indicating competitive fundamentals among Amarillo neighborhoods. Dining and daily-needs access are clear strengths: restaurants rank 1st of 87, grocery access ranks 2nd, childcare ranks 3rd, and pharmacies rank 5th, while cafes are also strong at 8th. Park access is limited (ranked 87th), so on-site or nearby private open space can be a differentiator.
Neighborhood occupancy is lower relative to the metro (ranked 72 of 87) and has softened over the last five years, suggesting more leasing competition and the need for active management to sustain stabilized performance. At the same time, the neighborhood’s renter-occupied share is high (ranked 9 of 87), signaling a deep tenant base for multifamily operators and supporting lease-up and retention in typical market conditions.
Within a 3-mile radius, households have inched higher recently and are projected to expand meaningfully through 2028, even as average household size trends smaller. This points to a larger tenant base over time and supports occupancy stability for well-positioned units. Median school ratings are above the metro median (ranked 23 of 87), which can aid family renter retention for appropriate floor plans.
Home values in the neighborhood are lower relative to national norms (national percentile 18), and the value-to-income ratio is modest, which can introduce some competition from entry-level ownership. However, median contract rents are also modest and rent-to-income is measured at the neighborhood level at 0.22, framing manageable affordability pressure that can support pricing power for renovated, well-managed units. Based on CRE market data from WDSuite, these conditions align with workforce-oriented demand rather than luxury positioning.
Safety indicators are mixed and should be underwritten conservatively. The neighborhood ranks 73rd out of 87 Amarillo neighborhoods on crime, indicating higher crime exposure relative to the metro, and it sits below the national median (36th percentile nationally). Property offenses have declined year over year, landing around the national middle for change, while the most recent violent-offense trend shows an uptick versus last year. Operators typically address this through lighting, access controls, and resident screening as part of standard risk management.
Proximity to established employers supports commuter convenience and helps widen the renter pool. Nearby corporate offices include the following, which can underpin steady demand for workforce housing.
- Xcel Energy — utility corporate offices (2.2 miles)
This 48-unit asset is positioned for workforce demand in a neighborhood with top-tier amenity access and a high renter concentration. Household growth within 3 miles and smaller average household sizes point to a larger tenant base over time. While neighborhood occupancy has trended lower in recent years, according to CRE market data from WDSuite, rent levels remain modest relative to incomes locally, creating room for value-oriented renovations and disciplined rent management.
Key considerations include competitive leasing dynamics and below-metro-average safety metrics, which call for proactive operations and targeted capital plans. With strong daily-needs proximity and projected household expansion, the asset can compete on convenience and updated finishes rather than luxury positioning.
- High neighborhood renter concentration supports a deeper tenant base and retention
- Top-ranked access to restaurants and groceries enhances leasing appeal
- 3-mile household growth and smaller household sizes expand demand for rental units
- Modest rents relative to incomes enable value-oriented renovation and pricing strategies
- Risks: softer neighborhood occupancy and below-metro safety require active management and security investments