803 N Clay - Apartments FOR SALE


Magnolia, AR 71753
$485,000 USD
214-556-1951
803 N Clay, Magnolia, AR for Sale
$485,000 USD
Apartments - FOR SALE
1/1
null | Request Cap Rate

803 N Clay
Magnolia, AR 71753


HIGHLIGHTS

  • Potential to implement a value-add rehab program and increase rents; Property has not received comprehensive interior upgrades since 2012.
  • Ability to add community amenities such as a sports court, playground, dog run, covered parking, and more.
  • Potential to implement more aggressive rent increases; current Ownership has managed with the intent of maintaining high occupancy.
  • Within close proximity to Magnolia’s primary retail corridor, including Wal-Mart Supercenter and numerous restaurants and service providers.
  • Less than 2 miles east of Southern Arkansas University (SAU), the city’s largest economic driver with ~5,100 students.
  • Approximately 1 mile from Magnolia Regional Medical Center, a major local employer and the area’s primary healthcare provider.

OVERVIEW

Vanguard Real Estate Advisors (“VREA”) is pleased to present the exclusive opportunity to purchase 10 units located at 803 N. Clay Street (“Property” or “803 N. Clay”) in the city of Magnolia located in south-central Arkansas. Units average 672 square feet, and the Property is currently 100% occupied. The Property was built in 1983 and underwent a full renovation in 2012, including upgrades to kitchens, HVAC systems, flooring, paint, and a new roof. The unit mix features nine 2-bedroom/1-bath units and one 1-bedroom/1-bath unit, making it highly functional for a wide range of tenants. Its central location places residents in immediate proximity to Southern Arkansas University (“SAU”), Magnolia Regional Medical Center, and many of the city’s primary retailers and employers. The Property is a well-maintained garden-style community and presents multiple avenues for potential upside. The City’s economy is anchored by Southern Arkansas University, Albemarle Corporation’s bromine production facilities, Magnolia Regional Medical Center, and a diverse manufacturing base. Call us to schedule a tour of the Property. A 3% co-broker fee is available to a Broker that sources a Principal that VREA has not previously contacted in any format or sent information to regarding this opportunity; a third party broker must register their client upon initial contact with VREA.

FOR SALE DETAILS

PRICE

$485,000 USD

PRICE/SF

$72 USD /SF

# OF UNITS

10

PRICE/UNIT

$48,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1983

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,007 SF

ZONING

-

APN/PARCEL ID

01-01853-00000

ASK ABOUT THIS PROPERTY

Jordan CortezVanguard Real Estate AdvisorsMore Info
214-556-1951

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Jordan CortezVanguard Real Estate AdvisorsMore Info
214-556-1951

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