125 Oak Street,Hot Springs, AR 71901
Hot Springs, AR 71901
Description
Investors - Look at the returns here. Great property. Roof 2-3 years, HVAC systems 2 years, fully sprinkled fire suppression, elevator, ADA accessibility, common coin laundry room or in unit laundry option, electric metered separately, solid well maintained building, units in excellent repair, great location, tranquil setting with excellent views in all direction, easily +10,000ft²/929m² underutilized space to add additional rental units as desired. Initial major remodel when building was placed back in service approximately 2005 with continued maintenance. 31 total apartments 1br-5, 2br-18, 3br-8 with additional venue rental & party rooms. Historically contributing, but not restricted. Yearly- Electric $16,116, Internet & office phone $6299 (includes Air BnB & 1 Tenant), Water, Sewer, Trash $16,274, Taxes $18,304, Insurance $42,840, Elevator- contract, inspection, permit & emergency phone $5831, Cameras/Security $3617, Fire monitoring and service contract $1834, city business & STR permits $470, Pest & Termite $2024 - Expense $113,609 - Income $455,293 (includes rent, storage, tenant utility contribution, laundry, event space rental, non-refundable pet deposit, pet rent, STR, application fee) NOI $341,684 with a 10% vacancy rate and Cap of 11%. Income reflects some late 2025 downtime for remodel post long term contract. Without adding additional units, realizing $500k+ plus in gross is very reasonable. Owner operated. Leases on file.
Details
| MLS # | 155515 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1913 |
| Days On Site | 151 |
| Listing Provided By | Rix Realty - Advantage Team Realtors | Chris Rix |
Features
| Basement | Y |
|---|
Interior
| Interior Features | Breakfast Bar, Dryer Connection-Electric, Dryer Stays, Hot Water Heater-Electric, Smoke Detector, Washer Connection, Washer-Stays, Security System, Balcony/Loft, Fan-Ceiling, Handicap Design, Marble |
|---|
Exterior
| Exterior Features | Porch, Dumpster |
|---|---|
| Foundation | Slab |
Utilities
| Utilities | Electric-Entergy, Sewer-Public, Water-Public |
|---|
Taxes
| Property | 18304 |
|---|
Area Information
| State | AR |
|---|---|
| County | Garland |
| City | Hot Springs |
| Zip Code | 71901 |
| Area | Garland |
| Community Name | HSR |
| School District | Hot Springs |
| Listing VS Median (in HSR) | |
Price: $2,945,000 low | high Med: $335,000 On site: 151 low | high Med: 113 | |
Market Activity 71901
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Learn More About This Property
| State | AR |
|---|---|
| County | Garland |
| City | Hot Springs |
| Zip Code | 71901 |
| Area | Garland |
| Community Name | HSR |
| School District | Hot Springs |
| Listing VS Median (in HSR) | |
Price: $2,945,000 low | high Med: $335,000 On site: 151 low | high Med: 113 | |
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