Barton Oaks Apartments
Multifamily | 55 Units
Marketing description
Woodyard Realty Corporation is pleased to exclusively offer for sale Barton Oaks Apartments. The Property was constructed in 1973 and historically operates mid-90% occupancy. Barton Oaks is located in the heart of Little Rock near major employers including 23,000+ jobs in the medical district 2.5- miles from the Property. Additionally, tenants are less than a 5-minute drive to downtown Little Rock which provides thousands of jobs covering the spectrum of blue collar, service industry, and white collar employment.
Current ownership purchased the asset in 2021 and have implemented cosmetic upgrades increasing rental revenue. 20 units have been fully renovated, 6 units have been partially renovated, 29 units have not been renovated. Greater than 50% of the units are in classic condition indicating plenty of upside for a new owner. All roofs were replaced in 2020 with 30-year architectural shingles. Since October of 2024, current ownership has infused over $137,000 in capital projects at the Property to improve the asset and longevity. A capex report can be found in the document vault.
Based on comparable properties, a new owner can continue implementing strategic cosmetic upgrades and push rents to market levels. Current rents are, on average, $167/month ($0.20PSF) less than market competitors.
Barton Oaks Apartments presents a stabilized cash-flowing investment in an economically strong submarket with forced appreciation upside by continuing the cosmetic value-add strategy.
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