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2420 Linden AveTexarkana, AR 71854

25-Unit Apartment Building, Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
116
Linden Court, located at 2420 Linden Ave, Texarkana, AR 71854, presents a compelling value-add opportunity in the thriving Texarkana multifamily market. This well-maintained apartment building, constructed in 1956, comprises three two-story buildings situated on a 1.23-acre lot. The property encompasses 15,300 square feet and features 25 units: 11 one-bedroom and 14 two-bedroom apartments. Currently boasting 100% occupancy due to below-market rents, this property offers significant upside potential. A new owner can readily increase annual income by approximately $15,000 through the implementation of RUBS (renter-paid utilities) and standard ancillary income streams such as pet fees and application fees. Further, an additional $125 per unit rent increase is achievable with minimal capital expenditures. The property benefits from strong market drivers, including a robust presence of industrial, manufacturing, medical, and educational institutions in Texarkana. This presents a rare chance to acquire a historically stabilized asset with substantial potential for increased net operating income (NOI) through both operational improvements and rent adjustments. The property's Class C designation reflects its current condition, offering a solid foundation for value enhancement.

Highlights

  • Well-maintained, value-add multifamily property in Texarkana, AR, currently 100% occupied with below-market rents.
  • Significant rental upside potential: $125/unit increase achievable with minimal capital expenditures, plus operational improvements.
  • Substantial ancillary income potential: $20,000 annual increase through implementing RUBS and standard fees (pet fees, application fees).
  • Strong market fundamentals: Texarkana's robust industrial, manufacturing, medical, and educational sectors drive demand.

Property Details for 2420 Linden Ave

Property type
Apartment buildings
Square Feet
15,300 SF
Class
C
Year Built
1956
Buildings
3
Stories
2
Lot Size (sq. ft)
53,579 SF
Units
25

Location Insight

City
Texarkana
County
Miller
State
Arkansas
Latitude
33.4461756
Longitude
-94.0301341
2420 Linden Ave, Texarkana, Arkansas

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2420 Linden Ave
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