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Aristocrat Manor 240 Central Ave 101 Unit Apartment Building $9,800,000 ($97,030/Unit) Hot Springs, AR 71901
Investment Highlights
- Access & Connectivity
- Proximity to Major Employment Hubs
- Strong Rental Demographics & Demand
- Area Amenities & Demand Drivers
- Off-Street Parking & Amenities
- Quality of Life Amenities
Executive Summary
SENIORS PROJECT BASED | OPTION 1 CONTRACT
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property, known as Aristocrat Manor, located at 240 Central Ave in Hot Springs, AR (the “Property”). The multistory building contains one-hundred one (101) 1-Bedroom/1-Bathroom units with 88,926 square feet of gross living area. The Property is situated upon a 0.35-acre parcel and features seventy (70) off-street parking spaces. 240 Central Avenue is well-positioned in the heart of downtown Hot Springs, offering immediate access to the city’s primary commercial corridor, tourism district, and surrounding residential neighborhoods. The Property benefits from frontage along Central Avenue, also known as Arkansas Highway 7, the city’s main thoroughfare connecting downtown with regional routes. Positioned directly within the historic downtown corridor near Hot Springs National Park and the city’s well-known Bathhouse Row district, the property benefits from strong year-round tourism activity, walkable access to restaurants, retail, and entertainment venues, and proximity to the region’s primary economic and cultural attractions.
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property, known as Aristocrat Manor, located at 240 Central Ave in Hot Springs, AR (the “Property”). The multistory building contains one-hundred one (101) 1-Bedroom/1-Bathroom units with 88,926 square feet of gross living area. The Property is situated upon a 0.35-acre parcel and features seventy (70) off-street parking spaces. 240 Central Avenue is well-positioned in the heart of downtown Hot Springs, offering immediate access to the city’s primary commercial corridor, tourism district, and surrounding residential neighborhoods. The Property benefits from frontage along Central Avenue, also known as Arkansas Highway 7, the city’s main thoroughfare connecting downtown with regional routes. Positioned directly within the historic downtown corridor near Hot Springs National Park and the city’s well-known Bathhouse Row district, the property benefits from strong year-round tourism activity, walkable access to restaurants, retail, and entertainment venues, and proximity to the region’s primary economic and cultural attractions.
Property Facts
| Price | $9,800,000 | Lot Size | 0.35 AC |
| Price Per Unit | $97,030 | Building Size | 88,926 SF |
| Sale Type | Investment | Average Occupancy | 95% |
| No. Units | 101 | No. Stories | 7 |
| Property Type | Multifamily | Year Built | 1964 |
| Property Subtype | Apartment | Parking Ratio | 0.79/1,000 SF |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Building Class | C |
| Price | $9,800,000 |
| Price Per Unit | $97,030 |
| Sale Type | Investment |
| No. Units | 101 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 88,926 SF |
| Average Occupancy | 95% |
| No. Stories | 7 |
| Year Built | 1964 |
| Parking Ratio | 0.79/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
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Aristocrat Manor | 240 Central Ave
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