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701 N Mirror St - Mirror Plaza Apartments 20 Unit Apartment Building Offered For Sale Amarillo, TX 79107
Investment Highlights
- 20-unit value-add apartment community consisting of five residential fourplexes with additional upside remaining through continued renovations.
- Substantial capital improvements completed. Allows a new owner to focus on finishing increasing income by finishing the renovation program.
- Detached 1,600 SF commercial laundry facility. Ownership states the building can accommodate approximately 20 washers & 10 dryers
Executive Summary
Mirror Plaza Apartments offers investors the opportunity to acquire a partially renovated 20-unit multifamily community with significant remaining upside. The property consists of five residential fourplex buildings together with a detached commercial laundry facility. Extensive capital improvements have already been completed on four of the apartment buildings, while one building remains available for renovation. This allows a new owner to complete the business plan and capture additional rental growth.
A unique feature of the offering is the approximately 1,600-square-foot commercial laundry building (per Potter County Appraisal District). Ownership reports the facility is capable of accommodating approximately 20 commercial washers and 10 commercial dryers, providing the potential to create an additional income stream serving the Mirror Plaza and the surrounding neighborhood.
For investors seeking a combination of current cash flow and measurable value-add potential, Mirror Plaza provides multiple opportunities to increase net operating income through continued renovations, occupancy improvements, ancillary income, and operational efficiencies.
A unique feature of the offering is the approximately 1,600-square-foot commercial laundry building (per Potter County Appraisal District). Ownership reports the facility is capable of accommodating approximately 20 commercial washers and 10 commercial dryers, providing the potential to create an additional income stream serving the Mirror Plaza and the surrounding neighborhood.
For investors seeking a combination of current cash flow and measurable value-add potential, Mirror Plaza provides multiple opportunities to increase net operating income through continued renovations, occupancy improvements, ancillary income, and operational efficiencies.
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Sale Type | Investment | Building Size | 14,000 SF |
| No. Units | 20 | Average Occupancy | 80% |
| Property Type | No. Stories | 2 | |
| Lot Size | 0.86 AC | Year Built/Renovated | 1962/2023 |
| Zoning | MF-1 | ||
| Sale Type | Investment |
| No. Units | 20 |
| Property Type | |
| Lot Size | 0.86 AC |
| Building Size | 14,000 SF |
| Average Occupancy | 80% |
| No. Stories | 2 |
| Year Built/Renovated | 1962/2023 |
| Zoning | MF-1 |
Amenities
Unit Amenities
- Air Conditioning
Site Amenities
- 24 Hour Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 20 | $1,097 CAD | 700 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
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701 N Mirror St - Mirror Plaza Apartments
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