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2500 Ridgeland Cir
Pocahontas, AR 72455
Ridgeland Townhomes · Multifamily Property For Sale
·
48 Units
Investment Highlights
- Built in 2017 | 48 Townhome Units
- 47 of 48 Units Recently Renovated
- Excellent Access to U.S. Highways 62 & 67 and Jonesboro Employment Base
- 95.83% Occupancy
- Washer & Dryer Included in Every Unit
Executive Summary
Ridgeland Townhomes is a 48-unit multifamily asset located in Pocahontas, Arkansas. The property is made up
of 8 buildings and is situated along U.S. Highways 62 and 67 with convenient access to Jonesboro. Built in 2017,
Ridgeland features a townhome-style unit mix of 36 2BD/2.5BA units averaging 1,486 SF and 12 3BD/3BA units
averaging 1,776 SF. All 48 units include an owner-provided washer and dryer, and tenants are responsible for
electric. 17 units are individually metered for water, while the remaining 31 units are billed back to tenants for
$65.00 a month. Current ownership achieves $296,240 in current NOI at 95.83% occupancy. 47/48 units have
been turned since current ownership took over in 2023. Unit turns have included but have not been limited to the
following: flooring, fresh paint, and appliance replacements. Additionally, property-wide improvements such as a
resurfaced parking lot, new signage, and new landscaping, have been implemented leaving new ownership with
minimal deferred capex to inherit.
of 8 buildings and is situated along U.S. Highways 62 and 67 with convenient access to Jonesboro. Built in 2017,
Ridgeland features a townhome-style unit mix of 36 2BD/2.5BA units averaging 1,486 SF and 12 3BD/3BA units
averaging 1,776 SF. All 48 units include an owner-provided washer and dryer, and tenants are responsible for
electric. 17 units are individually metered for water, while the remaining 31 units are billed back to tenants for
$65.00 a month. Current ownership achieves $296,240 in current NOI at 95.83% occupancy. 47/48 units have
been turned since current ownership took over in 2023. Unit turns have included but have not been limited to the
following: flooring, fresh paint, and appliance replacements. Additionally, property-wide improvements such as a
resurfaced parking lot, new signage, and new landscaping, have been implemented leaving new ownership with
minimal deferred capex to inherit.
Property Facts
| Price Per Unit | $93,750 | Building Class | B |
| Sale Type | Investment | Lot Size | 37.47 AC |
| Cap Rate | 6.58% | Building Size | 92,568 SF |
| No. Units | 48 | Average Occupancy | 96% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2017 |
| Apartment Style | Garden |
| Price Per Unit | $93,750 |
| Sale Type | Investment |
| Cap Rate | 6.58% |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 37.47 AC |
| Building Size | 92,568 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 2017 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Recycling
- Trash Pickup - Curbside
- Walking/Biking Trails
- Public Transportation
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 36 | - | 1,486 |
| 3+3 | 12 | - | 1,776 |
Property Taxes
| Parcel Number | 020-02481-000 | Improvements Assessment | $727,520 |
| Land Assessment | $30,240 | Total Assessment | $757,760 |
Property Taxes
Parcel Number
020-02481-000
Land Assessment
$30,240
Improvements Assessment
$727,520
Total Assessment
$757,760
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