Westwood Acres Apartments | 195 County Road 137
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Westwood Acres Apartments 195 County Road 137
20 Unit Apartment Building $995,000 ($49,750/Unit) 11.19% Cap Rate Corning, AR 72422
INVESTMENT HIGHLIGHTS
- 20 Units
- Potential for rent improvement
- New mini-splits
- Room to build on additional 1.0 acre lot for purchase
- Located near future I-57
- Additional coin laundry income
EXECUTIVE SUMMARY
20-doors! Three all brick buildings on +/-1.5 acres. Take a look at this investment opportunity offering not only a solid income stream but also the potential for expansion. Positioned near the future I-57 interstate, this complex is convenient for commuters, enhancing its desirability and long-term value. All 20 apartments were upgraded with new mini-split heating and air units in 2024, offering tenants comfort and energy efficiency. Additional revenue income from on-site coin-operated laundry. Room for value add and rate improvements. An additional +/- 1.0 acre with appproxmimatly 240 ft of highway frontage is available to purchase providing an excellent opportunity for further development, allowing you to capitalize on the demand for additional rental units or other business ventures.
PROPERTY FACTS
| Price | $995,000 | Apartment Style | Low Rise |
| Price Per Unit | $49,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.50 AC |
| Cap Rate | 11.19% | Building Size | 9,632 SF |
| No. Units | 20 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment |
| Price | $995,000 |
| Price Per Unit | $49,750 |
| Sale Type | Investment |
| Cap Rate | 11.19% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.50 AC |
| Building Size | 9,632 SF |
| No. Stories | 1 |
| Year Built | 1967 |
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 12 | $575.00 | - |
| 1+1 | 8 | $600.00 | - |
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PROPERTY TAXES
| Parcel Number | 722-01396-001C | Improvements Assessment | $57,490 |
| Land Assessment | $5,590 | Total Assessment | $63,080 |
PROPERTY TAXES
Parcel Number
722-01396-001C
Land Assessment
$5,590
Improvements Assessment
$57,490
Total Assessment
$63,080
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Westwood Acres Apartments | 195 County Road 137
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