Cottage Village

Multi-Family for Sale
Catylist Listing ID: 30523616
Property Subtypes: Senior Living
Number of Units: 23 Units
Building Size (RSF): 27,834 SF
Gross Building Area: See Agent
Gross Land Area: 2.07 Acres
Sale Price: See Agent
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/1/2019

Overview / Comments

This asset is prime for a value add renovation with average current rents well below the market rate for comparable properties. The current owner operates from a distant Fort Worth and as a result overspends on employee costs and is hindered in marketing.

Control the rural market outside Amarillo.
Significant upside with rents.
Ability to easily turn existing assisted living facility into memory care to meet demand.
Additional land to add additional assisted living facility.

Additional Details

Nearest MSA: Vernon
County: Childress
Tax ID/APN: 4026/1
Site Description: Strategically located in Childress, this asset offers the unique opportunity to control the senior rural market outside Amarillo.
Year Built: 1997
Year Renovated: 2005

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 1,125 4,940 6,065
Median Age: 40.23 39.01 37.04
Households: 465 2,013 2,013

Contact

Photograph of Listing Agent

Marty Cleckler

WestMark Commercial West Texas CIE Member
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