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Carriage House Apartments 2226 Merrill Dr 90 Unit Apartment Building $4,850,000 ($53,889/Unit) 11% Cap Rate Forrest City, AR 72335
INVESTMENT HIGHLIGHTS
- 425 Units Across 10 Complexes | Can Buy Any or All
- 225 Units in Forrest City, 201 Units in Blytheville
- www.AuctionSection.com
- Unprecedented Cap Rates
- Opportunity to Own 50%+/- of the Apartments in a Growing Market
EXECUTIVE SUMMARY
You may buy any property individually or in total
This is an unprecedented opportunity to earn double digit cap rates in an appreciating sector of the country!
If bid is a minimum of 80% of appraised value,
the owners agree to guarantee 100% occupancy for 12 months.
100% occupancy gap based on rent roll at closing, will be paid at closing.
Massive potential to get some double rents for 12 months!
425 units being sold across 10 complexes - can buy in total or individually
This is an unprecedented opportunity to earn double digit cap rates in an appreciating sector of the country!
If bid is a minimum of 80% of appraised value,
the owners agree to guarantee 100% occupancy for 12 months.
100% occupancy gap based on rent roll at closing, will be paid at closing.
Massive potential to get some double rents for 12 months!
425 units being sold across 10 complexes - can buy in total or individually
PROPERTY FACTS
| Price | $4,850,000 | Apartment Style | Garden |
| Price Per Unit | $53,889 | Building Class | C |
| Sale Type | Investment | Lot Size | 11.00 AC |
| Cap Rate | 11% | Building Size | 342,000 SF |
| Sale Condition | Business Value Included | Average Occupancy | 90% |
| No. Units | 90 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1978/2025 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R3 | ||
| Price | $4,850,000 |
| Price Per Unit | $53,889 |
| Sale Type | Investment |
| Cap Rate | 11% |
| Sale Condition | Business Value Included |
| No. Units | 90 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 11.00 AC |
| Building Size | 342,000 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1978/2025 |
| Opportunity Zone |
Yes |
| Zoning | R3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
- Playground
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 6 | - | 576 |
| 1+1 | 14 | - | 612 |
| 2+1 | 62 | - | 768 - 1,064 |
| 3+1.5 | 12 | - | 900 - 968 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $360,270 | |
| Land Assessment | $23,000 | Total Assessment | $383,270 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$23,000
Improvements Assessment
$360,270
Total Assessment
$383,270
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Carriage House Apartments | 2226 Merrill Dr
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