Elmwood Apartments
818 W 28th Avenue, Pine Bluff, AR
18.44% return
SP:
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Property Description

CASH COW!!! 

29 units. Great condition, completely renovated in 2016. New HVAC units, water heaters, roof, plumbing and electric! Only $31k per unit!!! On-site laundry. Close to shopping. Larger units have a 2 bath set up. Property will generate an 18.44% RETURN!! 

Professional property management and financing available!!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units29
  • Total bedrooms57
  • Total bathrooms38
  • Building size19920 sq. ft.
  • Lot size0.8 acres
  • Year built1940
  • CountyJefferson County
  • SubdivisionTOMLINSON S/D
  • ConstructionBrick
  • RoofShingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral air

Property Financial Summary

  • Sale price $899,000
  • Estimated rehab 1 $0
  • Total investment $899,000
  • Type Proforma
  • Gross income (annually) $228,900
  • Operating expenses (annually) $63,164
  • Net income (annually) $165,736
  • Gross return 25.46%
  • Gross income (monthly) $19,075
  • Operating expenses (monthly) $5,264
  • Net income (monthly) $13,811
  • Net return 18.44%

Property Income & Expenses

  • Income
  • Laundry Income $800/month $9,600/year
  • Unit A11: 1 bed / 1 bath $550/month $6,600/year
  • Unit A12: 2 bed / 1 bath $625/month $7,500/year
  • Unit A13: 2 bed / 1 bath $625/month $7,500/year
  • Unit A15: 2 bed / 1 bath $625/month $7,500/year
  • Unit A16: 2 bed / 1 bath $625/month $7,500/year
  • Unit A17: 2 bed / 1 bath $625/month $7,500/year
  • Unit A21: 2 bed / 1 bath $625/month $7,500/year
  • Unit A22: 2 bed / 1 bath $625/month $7,500/year
  • Unit A23: 2 bed / 1 bath $625/month $7,500/year
  • Unit A24: 2 bed / 1 bath $625/month $7,500/year
  • Unit A25: 2 bed / 1 bath $625/month $7,500/year
  • Unit A26: 2 bed / 1 bath $625/month $7,500/year
  • Unit A27: 2 bed / 1 bath $625/month $7,500/year
  • Unit B11: 2 bed / 1 bath $625/month $7,500/year
  • Unit B12: 2 bed / 1 bath $625/month $7,500/year
  • Unit B21: 2 bed / 1 bath $625/month $7,500/year
  • Unit B22: 2 bed / 1 bath $625/month $7,500/year
  • Unit C11: 2 bed / 1 bath $625/month $7,500/year
  • Unit C12: 2 bed / 1 bath $625/month $7,500/year
  • Unit C21: 2 bed / 1 bath $625/month $7,500/year
  • Unit C22: 2 bed / 2 bath $650/month $7,800/year
  • Unit D11: 2 bed / 2 bath $650/month $7,800/year
  • Unit D12: 2 bed / 2 bath $650/month $7,800/year
  • Unit D21: 2 bed / 2 bath $650/month $7,800/year
  • Unit D22: 2 bed / 2 bath $650/month $7,800/year
  • Unit E11: 2 bed / 2 bath $650/month $7,800/year
  • Unit E12: 2 bed / 2 bath $650/month $7,800/year
  • Unit E21: 2 bed / 2 bath $650/month $7,800/year
  • Unit E22: 2 bed / 2 bath $650/month $7,800/year
  • Total $19,075/month $228,900/year
  • Expenses
  • Property Taxes $454/month $5,444/year
  • Insurance $557/month $6,687/year
  • Water and Sewer $294/month $3,526/year
  • Waste Collection $242/month $2,903/year
  • Electric bill $97/month $1,164/year
  • Lawn care $120/month $1,440/year
  • Maintenance reserve $2,000/month $24,000/year
  • Property Management $1,500/month $18,000/year
  • Total $5,264/month $63,164/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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