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205 W MOULTRIE DR Blytheville AR 72315-1812

[Locked] • APN 305-00087-000

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Details
Property Type Multifamily
Sub Type Apartment Building
Lot SqFt 34,464
Acreage ******
Number of Units 10
Sold Date ******
Sold Price ******
Sold Price/SqFt ******
Zoning Code R3
Year Built 1965
Building Count 1
Opportunity Zone No
Sale NOI ******
Sale Cap Rate ******
Sold Price per Acre ******
Tax Year ******

Property History

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Property Type
Property Type
Multifamily
Property Subtype
Apartment Building
Marketing Description

MULTI FAMILY PORTFOLIO AUCTION

- 425 Apartment Units Being Sold Across 10 Properties

- Unprecedented Opportunity to Earn Double Digit Cap Rates in an Appreciating Sector of the Country

- You may Bid on Any Property Individually or in Total

- 1 Property in Blytheville AR + 9 Properties in Forrest City AR

- www.AuctionSection.com | 713.594.1576

*** 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!

Investment Highlights

- 425 Apartment Units Being Sold Across 10 Properties

  • 201 Units in Blytheville, 224 Units in Forrest City

- Unprecedented Opportunity to Earn Double Digit Cap Rates in an Appreciating Sector of the Country

  • Opportunity to Own 50%+/- of the Apartments in a Growing Market

- You may Bid on Any Property Individually or in Total

- 1 Property in Blytheville AR + 9 Properties in Forrest City AR

- www.AuctionSection.com | 713.594.1576

*** 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!

Property Type
Property Type
Multifamily
Property Subtype
Apartment Building
Asking Details
Asking Cap Rate
******
Marketing Description
Price reduces! Worth Exclusive Properties is proud to present 417 units (plus 11 retail/office) located in NE Arkansas. Two large complexes located in Blytheville and Forrest City make up the bulk of the portfolio. 6.7 Cap currently with a pro forma cap rate above 9% once remaining down units are complete and rents taken to proven market rates. With a wait list at each location for the remaining down units and submarket rents across the portfolio, there is plenty of value add upside for the new owner. With the new roofs on, the remaining down units are being actively renovated and rented with mostly drywall repair, paint and flooring needed. There is full occupancy and wait lists for every "up" unit at these locations and units brought back on are being rented at rates 40% higher than legacy units in the complexes. The new owner can expect to see 2 BR's rent in the $600's and 1 BR's rent in the low $500's as we have seen with all recent light turns.

Recent renovations include 8 new roofs, HVAC upgrades, 20 down units remodeled and rented and over 30,000 SF of vinyl flooring installed in 2021.

Both properties are located less than one hour from Memphis and near the steel capital of the US. Nucor's recently announced $500m expansion has additionally brought an increased demand for units. This portfolio has a stable and seasoned local management and maintenance teams at both locations and current ownership is located on the west coast, where a part owner is also a licensed real estate broker.

Investment Highlights
Recent turns with only replacing flooring bringing in market rents makes projections easy on this portfolio at a solid 9% cap with generous expense allowances.

Loan History

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Financial History

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****** Data
Net Operating Income
******
Reporting Date
******

Tax History

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Contact Information

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Ownership Information

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Property Details

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There are no additional details for this property

Contacts

Sold: Multi APN Sale on
 BY:
JW
Joseph Worth
•••.•••.3385
••••hjoe@•••••.com
Worth Exclusive Properties
Listing removed on
 BY:
MT
Mark Thomas
•••.•••.1576
•hale@••••••••••••••.com
Brokerage logo

Map

Comparable Properties

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Rental Market Overview

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This rental data is based on the nearest market to this property: Dyersburg, TN.
Dyersburg, TN median rent ********
***  ****** **** *** ******** ***
National median ********
Compare median rents across markets
Dyersburg, TN (nearest market)
Studio ******** 1 bed ******** 2 bed ********
Studio ******** 1 bed ******** 2 bed ********
Studio ******** 1 bed ******** 2 bed ********
Data provided byDwellsy IQ
*All information is deemed reliable but not guaranteed.
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