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1410 Richmond Rd
Texarkana, TX 75503

Ridgewood Apartments · Multifamily Property For Sale · 60 Units

INVESTMENT HIGHLIGHTS

  • $2.1+ Million Value-Add Upside – Bring 14 Down Units Back Online, Increase Rents to Market Rates, Renovate Interiors, and More
  • Double-Digit Cash-on-Cash by the End of Year 2
  • $50 Proven Rent Premiums for Renovated Units
  • 60% Occupied – Opportunity To Bring Up to Market Average of 98%
  • Proximate to Texarkana College and Texarkana Independent School District
  • Offered Free and Clear of Any Existing Debt

PROPERTY FACTS

No. Units 60
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 2.50 AC
Building Size 48,187 SF
Average Occupancy 98%
No. Stories 2
Year Built 1972

UNIT AMENITIES

  • Air Conditioning
  • Cable Ready
  • Disposal
  • Heating
  • Kitchen
  • High Speed Internet Access
  • Ice Maker
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Walk-In Closets
  • Carpet
  • Handrails
  • Vinyl Flooring
  • Warming Drawer
  • Wheelchair Accessible (Rooms)
  • Window Coverings

SITE AMENITIES

  • 24 Hour Access
  • Laundry Facilities
  • Pool
  • Property Manager on Site
  • Maintenance on site

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 43 - 715
2+2 17 - 1,026

PROPERTY TAXES

ZONING

Zoning Code MF-1
  • Listing ID: 25674707

  • Date on Market: 5/10/2022

  • Last Updated:

  • Address: 1410 Richmond Rd, Texarkana, TX 75503