Contacts
Zac Thomas
GREA
Sam Hewitt
GREA
Property Details
- Property Type Other
- Property Size 204,732 SF
- Units 65
- Additional Rent Contact for pricing
- Year Built 1970
- Date Updated Nov 4, 2024
“Texarkana-65” is a well-maintained, ideally located, multifamily property situated in the historic Glendale neighborhood, in Texarkana, Arkansas. The fully contiguous property consisting of 15 buildings is located at the highly-trafficked intersection of County Avenue and 24th Street on the Arkansas side of the MSA, only four blocks from the Texas state line. The property sits on +/- 4.7 acres and is about five minutes from burgeoning downtown Texarkana. Comprised of 65 units in total, the property has a desirable unit mix consisting of 40 two-bedroom units and 25 one-bedroom/one-bathroom units. With an idyllic park-like setting comprised of mature oak trees and beautifully restored homes, the property is primed for new ownership to perform a mid-level value-add repositioning (flooring, countertops, & appliances) and increase the below-market rents to competitive levels within the comp set.
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Highlights
- Well-maintained, primarily brick property with new roofs and desirable unit-mix.
- Property has maintained a 97%+ average occupancy for the last three years due to below market rents.
- Located in the desirable Glendale Historic District of Texarkana where remodeled homes regularly sell for over $300,000.
- New buyer has the ability to increase rents $150+ with minimal Cap-Ex, along with significant operational upside through implementing RUBs other incomes.
- City Leaders throughout the area believe lithium extraction facilities near Texarkana could bring over 6,000 jobs to the area just in the next five years.
- ExxonMobil is planning to build one of the world's largest lithium processing facilities in the area.
Attachments
Getting around
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39/100
Walk Score ®
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40/100
Bike Score ®
Location
- City Texarkana, AR
- Zip Code 71854
Points of Interest
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Texarkana
1.78 miles
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Shell
0.91 miles
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Murphy USA
1.04 miles
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Raceway
1.32 miles
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Valero
2.37 miles
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Road Runner
2.84 miles
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Flying J
6.97 miles
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Executive Inn
0.89 miles
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Scottish Inns & Suites
1.20 miles
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Shamrock Motel
1.26 miles
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Americas Best Value Inn & Suites Texarkana
1.36 miles
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Ambassador Inn
1.63 miles
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Country Host Inn
1.66 miles
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Super 8
1.78 miles
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Ramada
1.83 miles
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Holiday Inn Express & Suites
1.86 miles
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Baymont
1.88 miles
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Walmart Supercenter
1.16 miles
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Cash Saver Food Stores
2.38 miles
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Landmark Grocery
3.00 miles
In-Depth Research Available for this Property
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