REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 199,900
Est. payment /mo
New
1000 Walnut Newport, AR 72112
2,656 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Apartments
Listing Status Active
Purchase Type For Sale
Square Footage 2,656 sqft
Price per Sqft $75
Subdivision Park Place
MLS Listing ID 26033861
Style Traditional
Year Built 1940
Annual Tax Amount $696
Lot Size 5,227 Sqft
Acres 0.12
Property Sub-Type Apartments
Property Description
Unique opportunity to acquire a 10-unit apartment building with significant rental upside and an attractive value-add profile. The property features a unique and efficient unit mix, with 2-bedroom, 1-bath units and eight individual rooms for rent. The property is currently generating $3,045 per month in rental income, while the projected rent roll at full occupancy is approximately $4,840 per month - representing $1,795 per month in additional potential rental income, or approximately $21,540 in annual upside. With multiple units and a diversified tenant mix, the property offers an investor an opportunity to increase cash flow through lease-up and rental-rate optimization. The existing configuration provides a broad range of housing options, from larger 2-bedroom units to more affordable 1-bedroom spaces. Whether you're an experienced multifamily investor, looking for a house hack, or looking to add your first apartment asset to your apartment asset to your portfolio, this property offers a compelling combination of existing income and meaningful upside. Please see the attachments for additional information.
Location
State AR
County Jackson
Area Newport
Zoning RI
Rooms
Kitchen Free-Standing Stove
Interior
Heating Central Cool-Electric, Central Heat-Gas
Flooring Tile, Wood
Equipment Free-Standing Stove
Exterior
Parking Features Parking Pads
Utilities Available Sewer-Public, Water-Public
Roof Type Other (see remarks)
Building
Lot Description Level
Foundation Slab
New Construction No
Listed by Exp Realty • Dustin Turner
NEARBY SCHOOLS & PROPERTIES