$420,000

1200 Monroe St

Amarillo TX, 79107

Description

Because this property is subject to Auction, the ''list price'' may be an estimate of value. This 48 unit apartment building is located in the city of Amarillo's North Heights Revitalization Project area. The City of Amarillo adopted a plan in January 2017 for North Heights neighborhood revitalization. As this becomes a reality the property values in this area are expected to increase significantly as the neighborhood gentrifies. With major work this property has the potential to bring lots of profit. The property may also be eligible for grants or loans. The property is located in Census tract 148 whichis listed as a CDBG target area. The owner is willing to offer owner financing for details please see the documents tab. This apartment building is ready to be renovated! Full Set of Permits & Stamped Architectural Drawings - rehabilitation can start immediately! The current owner has done tons of leg work including obtained a city grant that includes the waiver of permit fees and rebate of the City portion of property taxes for 10 years (This grant is transferable to the new owner!), completing an Asbestos survey, and has got the Parking Variance approved. Structurally the property has very good bones (Concrete Masonry Walls) and the roof was new in 2013. This property will be placed in an upcoming online event, however, all offers are welcome up to 72 hours prior to the event period. Offers can be submitted by the buyer or buyer's agent by clicking on the "Make Offer" button on the Property Details page on www.xome.com/auctions, or by submitting an offer directly to the listing agent. All offers will be reviewed and responded to within 3 business days.

Details

Listing Number20-1052
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1962
Days On Site11

Features

SQ Feet23,848
Building(s)1

Market Activity 79107

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Area Information

StateTX
CountyPotter
CityAmarillo
Zip Code79107
AreaNorth Heights
Listing VS Median (in 79107)
Price:
$420,000
low | high
Med:
$75,000
100% of Average
SqFt:
23,848
low | high
Med:
1,089
100% of Average
$ / SqFt:
$18
low | high
Med:
$69
100% of Average
On Site:
11
low | high
Med:
84
13.095238095238% of Average
Listing Updated: 02/22/2020
MLS Number: 20-1052
Listing Provided By:
Tommy L. McDowell  of  Tommy McDowell REALTOR

All information is deemed reliable but not guaranteed. The listings on this site are displayed courtesy of the IDX program of Amarillo Association of REALTORS and may not be the listings of the site owner