- Huge Upside Opportunity of $190+ Per Unit (Monthly)
- Meticulously Maintained Asset Primed for Value-Add Implementation
- Exceptional Asset Being Sold by Original Local Developer
- Great Connectivity Provides Easy Access to Entire MSA
- Strong School District and Proximity to Neighborhood Demand Drivers
- Exceptional Basis Compared to Replacement Cost
- Capitalize on the $1 Billion Economic Boom and Population Growth Slated for the Fort Smith MSA
- Offered Free and Clear of Existing Debt
HUGE UPSIDE OPPORTUNITY OF $190 PER UNIT (MONTHLY)
Constructed in 2004, Addison Place boasts original interior finishes, which gives new ownership the opportunity to achieve significant rent upside of over $190 per unit (monthly), with completion of light interior upgrades and modernizations coupled with further continuity and improvement of the stabilized operations already in place. Cosmetic updates to the units and a modernization of the amenity package will enable the new investor to push annual rental income by over $172,000 per year!
METICULOUSLY MAINTAINED ASSET PRIMED FOR VALUE-ADD IMPLEMENTATION
The asset has been meticulously maintained by the long-term local ownership group, negating major CapEx expenditure exposure for the next generation owner. Addison Place has maintained vintage unit interiors that are primed for value-add upgrades with a highly sought-after foundation ready for modernization.
EXCEPTIONAL ASSET BEING SOLD BY ORIGINAL DEVELOPER
Addison Place is being sold by the original local developer who has managed the property consistently for 19 years. This long-term conservative ownership strategy offers a new investor the opportunity to capitalize on low-hanging fruit and boost revenue significantly.