Earl’s Point Condominiums | 1203 Marion Anderson Rd
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Earl’s Point Condominiums 1203 Marion Anderson Rd
17 Unit Apartment Building $3,250,000 ($191,176/Unit) 6.02% Cap Rate Hot Springs, AR 71913
Investment Highlights
- Positioned in a quiet, peaceful area on West end of Lake Hamilton, Earl’s Point offers a unique opportunity to a 17-unit condominium project
- New carpet in certain units
- Decks
- New roofs (2024)
- Stoves, refrigerators, washers
- New individual water meters for all units
Executive Summary
Discover an incredible investment opportunity with this 17-unit multi- family condominium complex, located on the shores of Lake Hamilton in Hot Springs, Arkansas. Boasting a market net operating income (NOI) of $195,738, this property promises solid returns and exciting growth potential. This lakefront complex is not only a secure income-generating asset but also a unique opportunity for further development in a highly desirable location. A designated area within the lot is ready for the construction of up to 7 additional 3-bedroom,2-bathroom units, providing an opportunity to increase revenue and enhance the property’s value
Data Room Click Here to Access
- Offering Memorandum
- Market Information
Financial Summary (Pro forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,250,000 | Building Class | C |
| Price Per Unit | $191,176 | Lot Size | 1.76 AC |
| Sale Type | Investment | Building Size | 30,000 SF |
| Cap Rate | 6.02% | Average Occupancy | 60% |
| No. Units | 17 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment | Parking Ratio | 1.67/1,000 SF |
| Apartment Style | Townhome |
| Price | $3,250,000 |
| Price Per Unit | $191,176 |
| Sale Type | Investment |
| Cap Rate | 6.02% |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 1.76 AC |
| Building Size | 30,000 SF |
| Average Occupancy | 60% |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 1.67/1,000 SF |
Site Amenities
- Dock
- Lake Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+2 | 5 | $977.50 | 1,200 |
| 2+2 | 10 | $1,238 | 1,300 |
| 3+2 | 2 | $1,800 | 1,500 |
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Earl’s Point Condominiums | 1203 Marion Anderson Rd
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