2301 Scott St Little Rock, AR 72206
Turnkey multifamily property with significant rental upside in Little Rock.
Property size:
19,224 SFProperty Features for 2301 Scott St
General Information
- Size
- 19,224 SF
Building Details
- Year built
- 1971
Source:
Svn
Listing Agent: Andrew Agee
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Renovated Townhomes Near Downtown
The Seneca Townhomes, located in Little Rock, Arkansas, comprise 24 units. Constructed in 1971, the property has been fully renovated with an A-Class package. Situated near downtown Little Rock, this multifamily asset presents an opportunity for investors to acquire a turnkey property. Renovations included new flooring, windows, exterior lighting, plumbing, electrical systems, hot water heaters, appliances, cabinets, showers, and an automatic gate system. The renovations resulted in approximately $738,000 of capital expenditures. The property has the potential to achieve rents of $1.70 per square foot or higher. Comparable rental properties suggest that current rental figures are below market value, offering investors the chance to increase rents. The property has the opportunity to increase the asking rent. Little Rock is experiencing economic growth and stability across healthcare, education, and technology sectors. Located south of downtown Little Rock, the Pettaway neighborhood is undergoing revitalization, with new developments on the horizon. The recent approval of office and residential space signals further expansion of Pettaway Square.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Little Rock
- County
- Pulaski
- State
- Arkansas
- Longitude
- -92.272305
- Latitude
- 34.726343
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FAQs
What type of property is this?
Apartment building - Turnkey multifamily property with significant rental upside in Little Rock.
Where is this apartment building located?
The property is located at 2301 Scott St Little Rock, AR.
What are key features of this property?
This property features: - Fully renovated A-Class units with nearly $740k in recent CapEx, offering a turnkey investment.; - Significant rental upside potential, with achievable rent increases of over 23% from $1.37/SF to $1.69/SF.; - Projected 4-Year IRR of over 20% based on the asking price of $125k/door.