2601 N Hutchinson Street, Pine Bluff, AR
15.72% return
SP:
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Property Description

Insane investment!! 

Great apartment complex. 10 units. Apartment building is turnkey and doesn't need any maintenance. Potential to increase rents. Low expenses. Tons of new development is coming to the area, including a big casino. Roof was replaced within the last couple of years. Will generate a 15%+ net return on investment. 

Professional property management is available. Will not last, call today!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units10
  • Total bedrooms10
  • Total bathrooms10
  • Building size5040 sq. ft.
  • Lot size0.8 acres
  • Year built1983
  • CountyJefferson County
  • SubdivisionCOLLEGE HEIGHTS ANNEX
  • ConstructionBrick/Frame
  • RoofShingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWall A/C

Property Financial Summary

  • Sale price $279,900
  • Estimated rehab 1 $0
  • Total investment $279,900
  • Type Proforma
  • Gross income (annually) $57,000
  • Operating expenses (annually) $12,986
  • Net income (annually) $44,014
  • Gross return 20.36%
  • Gross income (monthly) $4,750
  • Operating expenses (monthly) $1,082
  • Net income (monthly) $3,668
  • Net return 15.72%

Property Income & Expenses

  • Income
  • Unit 1: 1 bed / 1 bath $475/month $5,700/year
  • Unit 2: 1 bed / 1 bath $475/month $5,700/year
  • Unit 3: 1 bed / 1 bath $475/month $5,700/year
  • Unit 4: 1 bed / 1 bath $475/month $5,700/year
  • Unit 5: 1 bed / 1 bath $475/month $5,700/year
  • Unit 6: 1 bed / 1 bath $475/month $5,700/year
  • Unit 7: 1 bed / 1 bath $475/month $5,700/year
  • Unit 8: 1 bed / 1 bath $475/month $5,700/year
  • Unit 9: 1 bed / 1 bath $475/month $5,700/year
  • Unit 10: 1 bed / 1 bath $475/month $5,700/year
  • Total $4,750/month $57,000/year
  • Expenses
  • Property Taxes $102/month $1,226/year
  • Insurance $250/month $3,000/year
  • Waste Collection $185/month $2,220/year
  • Electric bill $70/month $840/year
  • Water and Sewer $165/month $1,980/year
  • Maintenance reserve $250/month $3,000/year
  • Lawn care $60/month $720/year
  • Total $1,082/month $12,986/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

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