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622 S Wright St 4 Unit Apartment Building $310,000 ($77,500/Unit) Siloam Springs, AR 72761
Investment Highlights
- Excellent multifamily investment opportunity in Siloam Springs
- Current rental rates range from $650 to $1,200/month
- Strong Northwest Arkansas investment opportunity with income potential
- Three out of the four units are currently occupied
- Convenient access to shopping, schools, and major transportation routes
Executive Summary
Excellent investment opportunity in Siloam Springs featuring +/- 3,029 SF across four rental units with strong income potential. The property includes two 1-bedroom, 1-bath units, one 2-bedroom, 1-bath unit, and one 3-bedroom, 2-bath unit, totaling 7 bedrooms and 5 bathrooms. Three units are currently occupied, with one lease secured through October 1 and two operating month-to-month, while one unit is currently vacant, creating additional upside potential. Current rental rates range from $650 to $1,200/mo. Recent improvements include updated cabinetry in each unit. While the property does not feature central HVAC, all units are equipped with window air conditioning units. The property consists of a two-story residence and a detached home, offering a flexible layout for tenants. Conveniently located just 350' from S Mt. Olive and approx. 0.5 miles from US Hwy-412, the property offers convenient access to shopping, schools, and major transportation, making it an attractive Northwest Arkansas investment opportunity.
Property Facts
| Price | $310,000 | Building Class | B |
| Price Per Unit | $77,500 | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 3,029 SF |
| No. Units | 4 | Average Occupancy | 75% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1996 |
| Apartment Style | Single-Family Home |
| Price | $310,000 |
| Price Per Unit | $77,500 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | B |
| Lot Size | 0.28 AC |
| Building Size | 3,029 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1996 |
Amenities
- Smoke Detector
Unit Amenities
- Microwave
- Washer/Dryer Hookup
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $750.00 | - |
| 2+1 | 1 | $800.00 | - |
| 3+2 | 1 | $1,200 | - |
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Fairly walkable
40/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 03-01801-000 | Improvements Assessment | $45,024 |
| Land Assessment | $7,400 | Total Assessment | $52,424 |
Property Taxes
Parcel Number
03-01801-000
Land Assessment
$7,400
Improvements Assessment
$45,024
Total Assessment
$52,424
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622 S Wright St