| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Poor |
| Demographics | 31st | Poor |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1027 Tempe St, Amarillo, TX, 79118, US |
| Region / Metro | Amarillo |
| Year of Construction | 1983 |
| Units | 113 |
| Transaction Date | 2008-06-01 |
| Transaction Price | $3,500,000 |
| Buyer | --- |
| Seller | Amberwood Park LTD |
1027 Tempe St Amarillo Multifamily Investment
Positioned in a mostly owner-occupied Amarillo neighborhood, the property s demand profile is price-sensitive but stable, according to WDSuite s CRE market data. Neighborhood occupancy and rent levels suggest investors should prioritize operational efficiency and value-add strategies to compete with newer stock.
This Rural neighborhood in Amarillo offers a quieter living environment with limited walkable amenities; grocery access sits near the middle of the pack nationally while cafes, parks, and pharmacies are sparse. Average public school ratings trend around 3.0 out of 5, indicating serviceable education options without being a regional standout.
The area s average construction year skews newer than this asset (2002 neighborhood average vs. a 1983 property), which points to a clear value-add path: targeted renovations and systems updates can improve competitive positioning against younger inventory. Investors should plan capex to modernize interiors and common areas to strengthen leasing velocity.
Renter-occupied housing is a smaller share of units at the neighborhood level, which means a thinner immediate renter base but potentially steadier tenancy when homes are well-managed. Within a 3-mile radius, population and household counts have grown over the past five years and are projected to continue rising through 2028, expanding the potential tenant base and supporting occupancy stability over time.
Relative to the Amarillo metro, neighborhood performance indicators place this area below the metro median on several CRE measures, including occupancy and income, while home values are comparatively low. For multifamily investors, this combination can sustain leasing through more accessible rents, yet it also increases competition with ownership options; pricing discipline and resident retention programs become key levers. Based on CRE market data from WDSuite, NOI per unit trails stronger Amarillo neighborhoods, underscoring the importance of hands-on operations and expense control to achieve attractive yields.
Safety conditions compare favorably at the national level: the neighborhood scores in a high national percentile for lower violent offense exposure, placing it in the top quartile nationally by this measure. Within the Amarillo, TX metro, overall crime performance is competitive among 87 neighborhoods, indicating a relative strength versus many local peers.
Recent trends are mixed: estimates show property offenses increased year over year, while violent offense rates improved. Investors should consider standard safety-focused site management and lighting upgrades as part of capital planning, aligning with broader risk management rather than assuming block-level guarantees.
Nearby employment anchors contribute to steady commuter demand, with utility and corporate office roles accessible within a short drive. These employers support workforce housing dynamics and can aid resident retention through commute convenience.
- Xcel Energy utilities (6.4 miles)
Built in 1983, the asset is older than the neighborhood s average vintage, creating a straightforward value-add thesis: selective renovations and operational enhancements can help the property compete against 2000s-era stock while maintaining rent positioning that appeals to cost-conscious renters. The immediate neighborhood exhibits below-median occupancy and income versus the Amarillo metro, but a growing 3-mile population and household base points to a gradually expanding renter pool that can support leasing over the hold period.
Home values in the neighborhood are relatively low in the context of Amarillo, which can create competition from ownership; however, rent levels remain accessible and rent-to-income figures suggest manageable affordability pressure. Based on commercial real estate analysis from WDSuite, investors should focus on expense control, curb appeal, and interior updates to lift NOI while watching amenity-light location factors that may require stronger on-site services to drive retention.
- Value-add potential from 1983 vintage via targeted unit and systems upgrades
- Growing 3-mile population and households support a larger tenant base and occupancy stability
- Accessible rent positioning can attract price-sensitive renters and aid lease retention
- Operations focus: expense control and curb appeal are key to lifting NOI versus metro peers
- Risks: below-median neighborhood occupancy, limited nearby amenities, and competition with ownership options