Magnolia Manor Apartment Complex 1220 W 7th St 19 Unit Apartment Building $1,350,000 ($71,053/Unit) 10.92% Cap Rate Texarkana, TX 75501

This motel is in progress to be converted to a multifamily. We are giving an option for it to be sold as either a motel in its state now, or a multifamily and finish the conversion for you. It requires fire sprinklers and a few kitchenettes installed to finish the conversion.

The prices we are selling it at are starting points, not limits. Bring your best offer and terms. We value certainty of a close, over squeezing every dollar.
This has potential to be a solid, cash flowing asset. We respect speed and win/win deals that make sense for everyone involved. If it works for you, make an offer and we’ll respond with a yes, no, or counter:

Asking price as is now, delivered as a motel: 850,000 or best offer
Asking price delivered as a multifamily: 1,350,000 or best offer

• Unit Mix: 17 efficiency style studio units with kitchen. 1 duplex home (2 units) [1 bed 1 bath downstairs unit, 3 bed 1 bath upstairs unit] located in the center of the property
• Additional Assets: Architectural plans and survey included. Management in place for seamless ownership transition.
• Solid Brick Structure: Durable, low maintenance construction for long term reliability.
• Ample Parking: On site parking available for all tenants.
• Turnkey Investment: Fair condition with major systems intact; opportunity to raise rents with additional minor renovations.
We've attached a pro forma financial analysis to this listing in a .csv file, to convey to you how this building would perform as a multifamily.