201 2Nd StAustin, AR 72007

Property Details for 201 2Nd St

Year built

2022

Lot size

1.83 AC

Property type

Apartment buildings

Description

Austin Oaks, a 2022-built Class A apartment complex, presents a compelling investment opportunity in the rapidly growing Austin, Arkansas market. This 31-unit property boasts 18,600 square feet of net rentable space, spread across nine single-story buildings situated on a 1.83-acre lot at 201 N 2nd St, Austin, AR 72007. Currently operating at 80% occupancy, with a projected full occupancy date of June 7, 2024, the property generates a pro-forma NOI of $216,204, yielding a 6.55% cap rate. The asking price is $3,300,000, translating to $106,451.61 per unit. Located in the heart of Austin, near shopping and retail, and with convenient access to Highway 67, the property benefits from its proximity to the Cabot School District, one of Arkansas's best. Tenants also enjoy easy access to the dining and entertainment options in Cabot, a thriving suburb of Little Rock. The immediate submarket has shown over 10% rent growth in the past year, indicating strong potential for continued appreciation. This property offers a rare combination of strong current performance and significant future growth potential in a high-demand location. The property's excellent location and strong performance metrics make it an attractive investment for discerning buyers seeking stable income and long-term appreciation in a thriving Arkansas market.

Location Insight

City

Austin

County

Lonoke

State

Arkansas

Latitude

34.9976

Longitude

-91.9801

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