240 Central Ave - Apartments FOR SALE


Hot Springs, AR 71901
$9,800,000 USD
312-624-7087
240 Central Ave, Hot Springs, AR for Sale
$9,800,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

240 Central Ave
Hot Springs, AR 71901


HIGHLIGHTS

  • Access & Connectivity
  • Area Amenities & Demand Drivers
  • Proximity to Major Employment Hubs
  • Off-Street Parking & Amenities
  • Strong Rental Demographics & Demand
  • Quality of Life Amenities

OVERVIEW

SENIORS PROJECT BASED | OPTION 1 CONTRACT Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property, known as Aristocrat Manor, located at 240 Central Ave in Hot Springs, AR (the “Property”). The multistory building contains one-hundred one (101) 1-Bedroom/1-Bathroom units with 88,926 square feet of gross living area. The Property is situated upon a 0.35-acre parcel and features seventy (70) off-street parking spaces. 240 Central Avenue is well-positioned in the heart of downtown Hot Springs, offering immediate access to the city’s primary commercial corridor, tourism district, and surrounding residential neighborhoods. The Property benefits from frontage along Central Avenue, also known as Arkansas Highway 7, the city’s main thoroughfare connecting downtown with regional routes. Positioned directly within the historic downtown corridor near Hot Springs National Park and the city’s well-known Bathhouse Row district, the property benefits from strong year-round tourism activity, walkable access to restaurants, retail, and entertainment venues, and proximity to the region’s primary economic and cultural attractions.

FOR SALE DETAILS

PRICE

$9,800,000 USD

PRICE/SF

$110 USD /SF

# OF UNITS

101

PRICE/UNIT

$97,030

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Aristocrat Manor

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

7

YEAR BUILT

1964

PARKING SPACES

70

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,420 SF

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Caroline KittleHorvath & TremblayMore Info
312-624-7087

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Caroline KittleHorvath & TremblayMore Info
312-624-7087

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.