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301 Rainy Pass Road - Riverbend Apartments, West Memphis, AR

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301 Rainy Pass Road - Riverbend Apartments

West Memphis, AR 72301 - Crittenden County MF Submarket

Property Type:Multi-Family Number of Units:96 Status:Existing Year Built:1975
Stories:2 Building Size:79,572 SF Land Area:6.77 AC (294,901 SF)
For Sale Price:$3,500,000 Price/Unit:$36,458.33 Cap Rate:- GRM:-

Parking:2.43 Parking Spaces / 1,000 SF

Sale Notes:
The Riverbend Apartments are perhaps the premiere example of a value-add opportunity. At 97% occupancy Riverbend has proven to be a submarket favorite with it's great location, contemporary style apartments, and vaulted ceilings.

At the current below market asking price, the seller has a non-recourse assumable loan in place and will grant substantial cash credits at closing to resolve the issues.

Riverbend Apartments is located in West Memphis, Arkansas just across the Mississippi River from downtown Memphis, Tennessee.

West Memphis, Arkansas sits at the Crossroads of America where Interstate 40 and Interstate 55 meet and is less than 15 minutes from Memphis, Tennessee. It is easily accessible in this three state region, with excellent interstate, county, and city road systems.

West Memphis has been called the Crossroads of American Distribution because of its strong logistics reputation that is shared with Memphis.  Over 220 motor freight companies call the area home and Interstate 40 between West Memphis and Little Rock, AR is the third busiest trucking corridor in the US.

Woodyard Realty Corporation
Steve A Woodyard
(901) 767-1998

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