Little Rock, AR

Furnished Dining Room 1.JPG

Chickadee Dr.

Little Rock, AR 72205
Buy & Hold
50/50 Joint Venture
ROI: Infinity 

This is an 8-unit multi-family building.  Each unit is townhome style and has 2 bedrooms and 1.5 baths.  This is situated in the popular midtown district close to ships. restaurants, and hospitals.

We purchased this from a motivated seller in early 2017 for $475.000.  We Joint Ventured with a partner who put up the down payment money of $95,000 + $15,000 for closing costs and fees and some repairs. 

We remodeled several units and raised the rents.  In October 2017, the building appraised for $550,000 and we refinanced the loan to repay our Joint Venture partner and got one loan for $490,000.  We borrowed another $40,000 to complete the remaining units. 

With all units renovated, the rental income is $8,900/mo. Debt service and expenses are $6,037. Cash Flow is $2,863/mo. ($34,356). All the profits and expenses are split 50/50 with our Venture Partner.

Kevin Waltermire