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230 Manor Circle - Polo Run, Hot Springs, AR

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230 Manor Circle - Polo Run

Hot Springs, AR 71901

(172.6 KB)

Property Type:Multi-Family Number of Units:143 Status:Existing Year Built:1948
Stories:3 Building Size:69,948 SF Land Area:6.33 AC (275,735 SF)
For Sale Price:$2,495,000 Price/Unit:$17,447.55 Cap Rate:- GRM:-


Sale Notes:
Pro forma cap rate = 16.14

OPPORTUNITY IS KNOCKING! OUT OF STATE OWNER SAYS SELL! This 148 unit, 6.33 acre property is located in the middle of town, on the main drag just north of the Oaklawn Park (in back of the Freeman Center)! This property consists of a good mix of studio (20), one-bedroom (28), two-bedroom (98) and three-bedroom (2) apartments. In addition to the 148 units, there are two offices and a large laundry room. The property has ample tenant parking and there are two semiprivate streets running through the complex. This property is conveniently located within walking distance to shopping and employment centers. A bus stop is located in front of the complex, making use of the public transportation system easy for the residents.

Since 2007 hundreds of thousands of dollars have been invested in property improvements. When this work started back in 2007, the occupancy level was under 30%, however, as the improvements have progressed, the occupancy level has been steadily rising and currently stands at approximately 67%. With the completion of the improvements and an occupancy level at 90%+, this place will be a real CASH COW for the new owner!

Located on Central Avenue, just north of the Oaklawn Jockey Club in back of the Freeman Center.

Berkshire Hathaway HomesServices California
John Duguid
(626) 440-5100

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