915 E 5Th St Texarkana, AR 71854
- Commercial real estate
- 5,012 SF
- 0.28 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 915 E 5Th St
- Lot size
- 0.28 lot acres
- Property size
- 5,012 SF
- Property type
- Commercial real estate
Description
This charming two-story, 5,012 square foot apartment building presents a compelling value-add investment opportunity in Texarkana, Arkansas. Located at 915 E 5th St, this property boasts four units, each offering unique character with high ceilings and original wood floors. The building sits on a 0.28-acre lot. Currently generating a Net Operating Income (NOI) of $39,180, representing an 8.72% capitalization rate, recent rent improvements and new management project a pro-forma NOI of $42,500, increasing the cap rate to 9.45%. The asking price is $449,500, translating to $89.68 per square foot and $112,375 per unit. The property's occupancy date was February 19, 2023. This B-Class multifamily investment offers significant upside potential for savvy investors seeking to enhance returns through further improvements and management strategies. The property's classic architectural details and prime location in Miller County, Arkansas, make it a rare find in the Texarkana market. Further details and a virtual tour will be available soon.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Texarkana
- County
- Miller
- State
- Arkansas
- Longitude
- -94.034350961013
- Latitude
- 33.428928813753
