2420 Linden AveTexarkana, AR 71854

Property Details for 2420 Linden Ave

Year built

1956

Lot size

1.23 AC

Property size (Sq ft)

15,300 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

Linden Court, located at 2420 Linden Ave, Texarkana, AR 71854, presents a compelling value-add opportunity in the thriving Texarkana multifamily market. This well-maintained apartment building, constructed in 1956, comprises three two-story buildings situated on a 1.23-acre lot. The property encompasses 15,300 square feet and features 25 units: 11 one-bedroom and 14 two-bedroom apartments. Currently boasting 100% occupancy due to below-market rents, this property offers significant upside potential. A new owner can readily increase annual income by approximately $15,000 through the implementation of RUBS (renter-paid utilities) and standard ancillary income streams such as pet fees and application fees. Further, an additional $125 per unit rent increase is achievable with minimal capital expenditures. The property benefits from strong market drivers, including a robust presence of industrial, manufacturing, medical, and educational institutions in Texarkana. This presents a rare chance to acquire a historically stabilized asset with substantial potential for increased net operating income (NOI) through both operational improvements and rent adjustments. The property's Class C designation reflects its current condition, offering a solid foundation for value enhancement.

Location Insight

City

Texarkana

County

Miller

State

Arkansas

Latitude

33.4462

Longitude

-94.0301

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