141 Britt Ln Hot Springs, AR 71913
- Residential income homes
- 9,470 SF
- 1.00 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 141 Britt Ln
- Year built
- 1950
- Lot size
- 1.00 lot acres
- Property size
- 9,470 SF
- Property type
- Residential income homes
- Property subtype
- Apartment buildings
Description
Exceptional opportunity to acquire a 15-unit multifamily property situated on a one-acre lot directly on Lake Hamilton in Hot Springs, Arkansas. This value-add investment, classified as a Class C property, comprises three buildings with a total of 9,470 square feet, offering 15 rental units. Originally constructed in 1950 and extensively renovated in 2023, the property features a two-story design and includes a separate historic house built in 1898. Currently operating with 14 short-term rental units (all permitted by the City of Hot Springs), this property presents significant upside potential. A brand-new fire suppression system has been recently installed, ensuring compliance with current safety codes. The property boasts a private boat ramp, and there's potential for additional boat slips, subject to Entergy approval. Further value enhancement can be achieved through remodeling the historic house, converting all units to Airbnb rentals, and/or constructing additional rental units on the available land. The asking price is $1,250,000. This rare lakefront investment offers substantial returns and significant growth opportunities. The property is located at 141 Britt Ln, Hot Springs, AR 71913.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hot Springs
- County
- Garland
- State
- Arkansas
- Longitude
- -93.1037
- Latitude
- 34.4499
