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431 McCain Blvd
North Little Rock, AR 72116

$7,500,000 USD

Apartments For Sale  •  154,106 SF

Property Details

  • Property Type Apartments
  • Total Building Size 154,106 SF
  • Lot Size 4.07 AC
  • Building Class C
  • Year Built 1975
20 Transit Score
40 Walk Score

Highlights

Irreplaceable debt: Assuming the 2.26% HUD loan vs. financing new at ~5.5% saves an estimated $185K+ in annual interest in early years
Below-market basis: $7,500,000 Purchase Price (~$41k per door) offering an attractive entry level basis
Clear loss-to-lease upside: Rents roll toward LIHTC max-allowable levels (50%/60% AMI) that remain below true market.
Occupancy + collections runway: The submarket/affordable demand is deep so the value-add is operational execution, not market timing.
No New Competitive Supply: Workforce/affordable product in the corridor faces limited new construction

Property Flyers

Amenities

  • Air Conditioning
  • Dishwasher
  • Disposal
  • Laundry Facilities
  • Microwave
  • Playground
  • Pool
  • Property Manager on Site
  • Tennis Court
  • Washer/Dryer
  • Washer/Dryer Hookup
  • Heating
  • Ceiling Fans
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower

Public Transportation

Commuter RailDriveWalkDistance
10 min - 5.3 mi
AirportDriveWalkDistance
Bill and Hillary Clinton Ntl/Adams Field 16 min - 9.5 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 125
Type: Surface
Included in Rent: Yes
Patrick Jordan 901-568-1292 Berkadia
Patrick Jordan 901-568-1292 Berkadia