Texarkana 65

Texarkana, AR

Info For Buyers

Overview

Summary

Price Market
Address 2402 Short Beech St, Texarkana, AR 71854
# Units 65
Rentable SF 49,145 SF
Year Built 1953, 1970 & 1986

“Texarkana-65” is a well-maintained, ideally located, multifamily property situated in the historic Glendale neighborhood, in Texarkana, Arkansas. The fully contiguous property consisting of 15 buildings is located at the highly-trafficked intersection of County Avenue and 24th Street on the Arkansas side of the MSA, only four blocks from the Texas state line. The property sits on +/- 4.7 acres and is about five minutes from burgeoning downtown Texarkana. Comprised of 65 units in total, the property has a desirable unit mix consisting of 40 two-bedroom units and 25 one-bedroom/one-bathroom units. With an idyllic park-like setting comprised of mature oak trees and beautifully restored homes, the property is primed for new ownership to perform a mid-level value-add repositioning (flooring, countertops, & appliances) and increase the below-market rents to competitive levels within the comp set.

Key Facts

Well-maintained, primarily brick property with new roofs and desirable unit-mix.

Property has maintained a 97%+ average occupancy for the last three years due to below market rents.

Located in the desirable Glendale Historic District of Texarkana where remodeled homes regularly sell for over $300,000.

New buyer has the ability to increase rents $150+ with minimal Cap-Ex, along with significant operational upside through implementing RUBs other incomes.

City Leaders throughout the area believe lithium extraction facilities near Texarkana could bring over 6,000 jobs to the area just in the next five years.

ExxonMobil is planning to build one of the world's largest lithium processing facilities in the area.