AMARILLO, TX – Marcus & Millichap Real Estate Investment
Services, the nation’s largest real estate investment services firm, has the
exclusive listing for Arden Ridge
Apartment Homes (top left photo), a 218-unit multifamily community in
Amarillo, the largest city in the Texas Panhandle.
The listing price of $16.2 million equates to $74,312 per
unit and $104 per square foot.
Joe James (middle right photo) and Kent Myers (lower left photo), senior associates, along with J. Patrick Burke, an associate, all in Marcus & Millichap’s Austin
office, are representing the seller, a regional owner.
“The
Amarillo multifamily sector has proven itself to be one of the strongest
secondary markets in Texas,” says Myers.
“Arden Ridge Apartment Homes is a high-quality asset with
historically strong occupancy rates that is currently 99 percent occupied,”
adds James.
The
156,318-square foot property is located at 6302 Blake Ave. in southern Amarillo
near Interstate 27, a major traffic artery with access to the central business
district. West Texas A&M University is located nearby.
Arden
Ridge Apartment Homes was constructed on 12 acres in two phases in 2008 and
2011. The unit mix features 101 one-bedroom/one-bath units, 97
two-bedroom/two-bath apartments and 20 three-bedroom/two-bath apartment homes.
The floor plans range from 570 square feet to 1,038 square feet. The average
unit size is 717 square feet.
The
property is a pet-friendly community that features on-site management and
offers tenants free high-speed Internet connectivity and free access to a DVD
library. Other amenities include a fitness center, a tanning salon, a swimming
pool, an Internet-equipped business center and a printer. Fully furnished
corporate suites are also available.
Contact:
Stacey Corso
Public Relations Manager
(925) 953-1716
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