125 OAK Street
Property Description
Investors - Look at the returns here. Great property. Roof 2-3 years, HVAC systems 2 years, fully sprinkled fire suppression, elevator, ADA accessibility, common coin laundry room or in unit laundry option, electric metered separately, solid well maintained building, units in excellent repair, great location, tranquil setting with excellent views in all direction, easily +10,000ft2/929m2 underutilized space to add additional rental units as desired. Initial major remodel when building was placed back in service approximately 2005 with continued maintenance. 31 total apartments 1br-5, 2br-18, 3br-8 with additional venue rental & party rooms. Historically contributing, but not restricted. Yearly- Electric $16,116, Internet & office phone $6299 (includes Air BnB & 1 Tenant), Water, Sewer, Trash $16,274, Taxes $18,304, Insurance $42,840, Elevator- contract, inspection, permit & emergency phone $5831, Cameras/Security $3617, Fire monitoring and service contract $1834, city business & STR permits $470, Pest & Termite $2024 - Expense $113,609 - Income $455,293 (includes rent, storage, tenant utility contribution, laundry, event space rental, non-refundable pet deposit, pet rent, STR, application fee) NOI $341,684 with a 10% vacancy rate and Cap of 11%. Income reflects some late 2025 downtime for remodel post long term contract. Without adding additional units, realizing $500k+ plus in gross is very reasonable. Owner operated. Leases on file.
Broker Details
RIX REALTY - ADVANTAGE TEAM REALTORS (501) 627-4075
MLS ID: 466 State License Number: 00059757
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,945,000 |
| Year Built: | 1913 |
| Lot Size: | 64,710.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 65 |
| Number of Bathrooms: | 0 |
ID: 3yd-HSBRAR-155515
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