10 Units | 1983 YOC | 803 North Clay Street, Magnolia, AR

Highlights:

• Potential to implement a value-add rehab program and increase rents; Property has not received comprehensive interior upgrades since 2012.
• Ability to add community amenities such as a sports court, playground, dog run, covered parking, and more.
• Potential to implement more aggressive rent increases; current Ownership has managed with the intent of maintaining high occupancy rather than maximizing rents.
• Well-maintained garden-style asset built in 1983.
• Units average 672 square feet.
• In-unit amenities include laminate floors, kitchen appliances, and ceiling fans.
• Within close proximity to Magnolia’s primary retail corridor, including Wal-Mart Supercenter, Brookshire’s Grocery, Tractor Supply, Dollar General, and numerous restaurants and service providers along N. West Avenue (Business Hwy 167).
• Less than 2 miles east of Southern Arkansas University (SAU), the city’s largest economic driver with ~5,100 students and hundreds of faculty and staff.
• Approximately 1 mile from Magnolia Regional Medical Center, a major local employer and the area’s primary healthcare provider.
• Positioned just west of US Highway 79 and one block off N. West Avenue (Business Hwy 167), the city’s main north-south thoroughfare, providing direct access through Magnolia and north to Little Rock in approximately 2 hours, and Texarkana only 75 minutes away.

Description:

Vanguard Real Estate Advisors (“VREA”) is pleased to present the exclusive opportunity to purchase 10 units located at 803 N. Clay Street (“Property” or “803 N. Clay”) in the city of Magnolia located in south-central Arkansas. Units average 672 square feet, and the Property is currently 100% occupied. The Property was built in 1983 and underwent a full renovation in 2012, including upgrades to kitchens, HVAC systems, flooring, paint, and a new roof. The unit mix features nine 2-bedroom/1-bath units and one 1-bedroom/1-bath unit, making it highly functional for a wide range of tenants. Its central location places residents in immediate proximity to Southern Arkansas University (“SAU”), Magnolia Regional Medical Center, and many of the city’s primary retailers and employers.

The Property is a well-maintained garden-style community and presents multiple avenues for potential upside. The City’s economy is anchored by Southern Arkansas University, Albemarle Corporation’s bromine production facilities, Magnolia Regional Medical Center, and a diverse manufacturing base.

To gain access to the full Offering Memorandum and Due Diligence Vault click on the link below:
https://docsend.com/view/s/4yyq2yretgn6ezcg

Call us to schedule a tour of the Property.

A 3% co-broker fee is available to a Broker that sources a Principal that VREA has not previously contacted in any format or sent information to regarding this opportunity; a third party broker must register their client upon initial contact with VREA.

Documents: