70 Fields Street, Russellville, AR

13.99% return

SP: $199,900

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Property Description

Awesome Investment!!

6 units on 4 acres. Fully occupied. Property needs some cosmetic improvements to increase rents. 3 minutes away from Arkansas Tech University and fine hotels, dining!!! Fort Smith MSA is home to 270,000 residents. Tons of rental demand in the area. Properties will generate an amazing return on investment once complete. Potential to add more rental units.

Financing and property management is available.

Property Information

Listing statusSold
Property typeMulti Family
Total units6
Total bedrooms12
Total bathrooms10
Building size7076 sq. ft.
Lot size4.0 acres
Year built1976 - 1993

CountyPope County
Subdivision
ConstructionFrame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSeptic
HeatingWindow Unit
CoolingWindow A/C

Property Financial Summary

Sale price$199,900
Estimated rehab¹$0
Total investment$199,900

TypeProforma

Gross income (annually)$39,300
Operating expenses (annually)$11,327
Net income (annually)$27,973
Gross return19.66%

Gross income (monthly)$3,275
Operating expenses (monthly)$944
Net income (monthly)$2,331
Net return13.99%

Property Income & ExpensesMonthlyAnnual

Income

Duplex
Unit 1: 3 bed / 1 bath$800/month$9,600/year
Unit 2: 1 bed / 1 bath$525/month$6,300/year
MH
Unit : 2 bed / 2 bath$450/month$5,400/year
Triplex
Unit 3: 2 bed / 2 bath$500/month$6,000/year
Unit 4: 2 bed / 2 bath$500/month$6,000/year
Unit 5: 2 bed / 2 bath$500/month$6,000/year
Total$3,275/month$39,300/year

Expenses

Property Taxes$158/month$1,897/year
Property Management$328/month$3,930/year
Insurance$208/month$2,500/year
Maintenance reserve$250/month$3,000/year
Total$944/month$11,327/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.