Investment Overview

Coachlight Plaza is an apartment complex located in Amarillo, Texas. Built in 1976, the property has five three-story buildings consisting of 64 units and a leasing office. The property offers various floorplans: two studios measuring 600 and 625 square feet, a one-bedroom/one-bathroom floorplan measuring 700 square feet, and a two-bedroom/one-bathroom measuring 900 square feet. Coachlight Plaza is focused on providing residents with a comfortable and convenient place to call home. The units have ceiling fans and window coverings, and the community offers a swimming pool, on-site laundry facilities, a courtyard with a barbecue area, 24-hour emergency maintenance, covered parking, and is pet-friendly. An incoming investor can take advantage of a value-add opportunity through unit upgrades to realize rent premiums, as well as an option to convert the leasing office into a rentable unit. In addition, new ownership can reduce expenses through a RUBS program for water and gas, and eliminate the electricity expense by removing the all bills paid program. The complex is located in central Amarillo and is surrounded by several schools, parks, employment opportunities, and restaurants. The apartments are located off Interstate 27, giving residents easy means to everything Amarillo has to offer as well as interregional access. Coachlight Plaza is a unique offering providing investors with upside potential through unit renovations and long-term value appreciation.