2212 Lacari | Magnolia, AR 71753
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2212 Lacari
Magnolia, AR 71753
Rider Ridge · Multifamily Property For Sale
·
48 Units
INVESTMENT HIGHLIGHTS
- - The subject property is located directly next to Southern Arkansas University, in Magnolia, AR
- - Additional income opportunity would be adding in W/D connections and units and charging $50/month
- - Several oil and brine drilling companies are located in the area, many of which are locally owned
- - 20 units have new vinyl flooring and painting, and 10 have new dishwashers and refrigerators/freezers
- - New ownership, based upon area rent comps, can raise rents up to $121 / unit
- - 75% of the tenants are students and professors on 12-month leases
PROPERTY FACTS
| No. Units | 48 | Lot Size | 2.95 AC |
| Property Type | Multifamily | Building Size | 40,256 SF |
| Property Subtype | Apartment | Average Occupancy | 98% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1986 |
| Zoning | (CI) - commercial improved | ||
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.95 AC |
| Building Size | 40,256 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1986 |
| Zoning | (CI) - commercial improved |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 28 | $625.00 | 707 |
| 2+2 | 20 | $765.00 | 1,023 |
PROPERTY TAXES
| Parcel Number | 01-00220-00000 | Improvements Assessment | $363,168 |
| Land Assessment | $12,850 | Total Assessment | $376,018 |
PROPERTY TAXES
Parcel Number
01-00220-00000
Land Assessment
$12,850
Improvements Assessment
$363,168
Total Assessment
$376,018
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