431 McCain Blvd - Apartments FOR SALE
North Little Rock, AR 72116 |
$7,500,000 USD
901-568-1292
431 McCain Blvd
North Little Rock, AR 72116
HIGHLIGHTS
- Irreplaceable debt: Assuming the 2.26% HUD loan vs. financing new at ~5.5% saves an estimated $185K+ in annual interest in early years
- Below-market basis: $7,500,000 Purchase Price (~$41k per door) offering an attractive entry level basis
- Clear loss-to-lease upside: Rents roll toward LIHTC max-allowable levels (50%/60% AMI) that remain below true market.
- Occupancy + collections runway: The submarket/affordable demand is deep so the value-add is operational execution, not market timing.
- No New Competitive Supply: Workforce/affordable product in the corridor faces limited new construction
FOR SALE DETAILS
PRICE
$7,500,000 USD
PRICE/SF
$49 USD /SF
# OF UNITS
183
PRICE/UNIT
$40,984
CAP RATE
Request Cap Rate
% LEASED
84%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
The Bluffs on McCain I and II
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
2
YEAR BUILT
1975
PARKING SPACES
125
LAND DETAILS
LAND ACRES
4.07 AC
LAND SF
177,289 SF
ZONING
-
APN/PARCEL ID
33N-030-00-011-00
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901-568-1292
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901-568-1292
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