3710 Pine Apartments

Summary:

The Multifamily Group is pleased to present the exclusive offering of the 3710 Pine Apartments, a unique, value-add opportunity in Texarkana, Texas.​ Built in 1971, the property comprises 22 units with an average size of 763 square feet, featuring a mix of one- and two-bedroom floorplans.​ Currently, the property maintains a 91% occupancy rate, with historical occupancy consistently in the mid-90% range.​ The 3710 Pine Apartments are being offered free and clear of existing debt.​

Value-Add:

Expand Airbnb operations by converting additional units.​ Currently, three units are listed at $59/night with a three-night minimum stay.​

Property Location:

3710 Pines is just 1-mile from Texas High School (A-rated High School per Niche.​com with 1,700+ students).​ They are located in the northern part of Texarkana situated just a mile from a variety of national restaurants and retailers, including Starbucks, Fuzzy’s Taco Shop, WingStop, Walmart Supercenter, Walgreens, and CVS.​ The property also benefits from close proximity to the intersections of major highways I-30, I-49, and US-59.​ This positioning allows Texarkana to act as a critical link between the Dallas-Fort Worth Metroplex to the west and Little Rock, Arkansas, to the east.​

Texarkana:

Governor Greg Abbott announced that Braven Environmental, a waste-to-value company specializing in recycling waste plastics, will establish a $145 million advanced recycling facility in Texarkana, Texas.​ This initiative is the third project under the Texas Jobs, Energy, Technology, and Innovation (JETI) program and is expected to create significant capital investment for the area.​

Forbes recently recognized Texarkana as one of the Best Small Places for Business and Careers.​ Serving as a regional hub for education, healthcare, and employment, the city’s retail and services trade area spans 17 counties across three states.​ The local workforce is drawn from a 60-mile radius, ensuring a strong labor pool.​

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  Tax Adjusted 9.5% Cap Rate

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  All New Roofs - 2022

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  17% Cash-on-Cash Averaged over 5 Years

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  Mid-90% - Historical Occupancy over the last Year

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  Within 1-Mile of Starbucks, Albertsons, Walmart, and Several other Retailers

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  Braven Environmental Announced they are Building a $145 Million Facility in Texarkana

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  Texarkana ISD has an A-Rating by Niche

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  Offered Free and Clear