126 Oriole St - Apartments FOR SALE


Hot Springs, AR 71901
$5,750,000 USD
484-947-8470
126 Oriole St, Hot Springs, AR for Sale
$5,750,000 USD
Apartments - FOR SALE
1/35
null | 7.29% Cap Rate

126 Oriole St
Hot Springs, AR 71901


HIGHLIGHTS

  • 70-UNITS || SENIOR DESIGNATED PROJECT BASED SECTION 8
  • STRONG HISTORICAL REAC || 98A IN 2022 AND 93B IN 2019
  • HAP CONTRACT EXPIRATION || DEC. 1ST 2025

OVERVIEW

Garland Tower Apartments is a 70-unit, senior-designated, project -based section 8 apartment facility in Hot Sprints, AR. Hot Springs is about a 55-minute drive southwest of Little Rock, AR. Historically this facility has done well on the REACs – scoring a 98a and 93b respectively in the last two evaluations. Garland has 53 efficiency units, 14 one-bedrooms, and 3 two-bedrooms. The studios are renting for $1,052, one-bedrooms for $1,299, and two-bedrooms for $1,486. This building has an elevator, electric heat and air, and gas hot water. All ranges in units are electric. This facility has on premises parking with common area laundry rooms for residents. Per Garland Tower Apartments’ 8609 it was placed in service on December 28th 2005 with a tax credit period lasting 35 years from the PIS date. Garland Tower is offered free and clear of debt.

FOR SALE DETAILS

PRICE

$5,750,000 USD

PRICE/SF

$116 USD /SF

# OF UNITS

70

PRICE/UNIT

$82,143

CAP RATE

7.29%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Garland Towers

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.31 AC

LAND SF

100,445 SF

ZONING

-

APN/PARCEL ID

055921

ASK ABOUT THIS PROPERTY

Jonathan MassaroAffordable Housing SalesMore Info
484-947-8470

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Jonathan MassaroAffordable Housing SalesMore Info
484-947-8470

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.