1600 Short Hillsboro St, El Dorado, AR 71730-6474

This 152-unit apartment complex, Hillsboro Townhomes, presents a compelling value-add opportunity in El Dorado, Arkansas. Built in 1971, the property comprises 19 buildings situated on 18.83 acres. The complex features a mix of one, two, and three-bedroom units, averaging 894 square feet, totaling 136,400 square feet. Currently, occupancy stands at 61.84%, with 83 units receiving rental subsidies and 12 occupied by market-rate tenants. A Section 8 housing contract, renewed October 1, 2014, extends until September 30, 2034, with adjustments every five years. The contract covers 150 units. The property includes an office, a vacant community center, two playgrounds, and a storage shed. Ample parking is available. Located in a Qualified Opportunity Zone, the complex represents 15% of El Dorado's multifamily market, a significant portion in a city with over 21,000 residents within a 5-mile radius and a 33% renter-occupied household rate within a 3-mile radius. No new apartment construction has occurred since 2014, creating a limited supply and high demand. The potential to increase market rates in subsidized units further enhances the investment potential. This property is ideal for an investor seeking to capitalize on the affordable housing market in South Central Arkansas.