For Sale
$6,350,000

301 Rainy Pass RdWest Memphis, AR 72301

96-unit apartment building, value-add opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
116
Exceptional value-add opportunity awaits with the Riverbend Apartments, a 96-unit multifamily property located at 301 Rainy Pass Rd, West Memphis, Arkansas, 72301. This Class C apartment building, constructed in 1975, boasts 79,572 square feet of net rentable space spread across two stories. Currently operating at 81% occupancy, the property offers significant upside potential. The asking price is $6,350,000, translating to $66,145.83 per unit. The property's projected net operating income (NOI) is $483,840. An attractive feature is the absence of a ground lease. The sale is offered directly by the owner, and the projected occupancy date is October 1, 2024. This presents a compelling investment opportunity for those seeking to capitalize on the strong rental market in West Memphis. The property is situated in Crittenden County and offers a substantial number of units for potential renovation and increased rental income. This is a for-sale-by-owner opportunity.

Highlights

  • Lease with option to purchase a 96-unit apartment building for $200,000.
  • Significant upside potential.
  • Contact Sam at 305-542-7051 or 305-753-1316 for details.

Property Details for 301 Rainy Pass Rd

Property type
Apartment buildings
Class
C
Year Built
1975
Stories
2
Units
96

Location Insight

City
West Memphis
County
Crittenden
State
Arkansas
Latitude
35.1429553
Longitude
-90.1917755
301 Rainy Pass Rd, West Memphis, Arkansas

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301 Rainy Pass Rd
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