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Little Rock Portfolio
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hunter larocca
Director
402.227.9643
hunter.larocca@berkadia.com
Patrick Jordan
BROKER OF RECORD
Senior Director
901.425.1828
patrick.jordan@berkadia.com
Lic # PB00079371
Brian Hummell
Director
614.468.5773
brian.hummell@berkadia.com
Kevan Enger
Senior Managing Director
407.494.8541
kevan.enger@berkadia.com
Ian Hilpl
Managing Director
315.406.0900
ian.hilpl@berkadia.com
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Berkadia Manufactured Housing is pleased to present the Little Rock Portfolio. This offering features 157-sites across 2 communities, Bethany MHP and Legion Hut MHP. The portfolio benefits from public water & sewer, which are paid by the residents through submeter or direct-bill. Legion Hut’s recapture rate is currently 76%, leaving room to improve and increase revenue. To further strengthen cash flow, the portfolio features value add opportunities such as below market rents and vacancy upside at Bethany MHP. Surrounding communities boast high occupancies and rents greater than the portfolio average, reinforcing strong demand at those rates. Raising rents by only $50 at Bethany MHP would increase GPR by over $55,000. Additionally, a new owner can direct their efforts to improving occupancy to help improve cash flow. This offering presents the opportunity to acquire a 2 park portfolio in Little Rock, Arkansas with public utilities and immediate rental upside.
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Little Rock Portfolio
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Public Utilities Paid By Residents
Below Market Rents
Upside In Filling Vacant Homes At Bethany MHP
97% Occupancy At Legion Hut
Proximity to Little Rock MSA
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Situated in central Arkansas, the Little Rock, Arkansas metro, encompasses six counties, which include Faulkner, Grant, Lonoke, Perry, Pulaski, and Saline. With a population of approximately 761,100 residents, the Little Rock metro is the most populated region in the state. Over the next five years, the Little Rock metro will continue to attract new residents due to an affordable cost of living, continued job creation, an estimated 5,900 net migration gain, and household formation expanding faster than the national rate of household growth.
Greater Little Rock’s economy is comprised of, the distribution and warehousing sector, the wholesale / retail trade segment, the defense industry and the healthcare industry. A transformation is well underway in areas like North Little Rock and downtown's South Main Street, where investment in the Port of Little Rock has attracted new construction by Amazon.com Inc. and high-profile manufacturers, while Main Street's Technology Park is spurring tech-savvy startups. The quality of life in the Little Rock area is also drawing lifestyle companies, including Topgolf, which bolsters Little Rock’s growing
Sources: Berkadia Research; Tetrad; Real Page; CoStar, Google, City of Little Rock, Little Rock Regional Chamber of Commerce, Downtown Little Rock Partnership, Metro Little Rock Arkansas, Port of Little Rock Authority, FRED Economic Data, Arkansas Children’s Hospital, Commercial Property Executive, Little Rock Tech Park, Park Plaza Mall, McCain Mall, William J. Clinton Presidential Library and Museum, Little Rock Zoo, Bill and Hillary Clinton National Airport, Rock Region Metro, CDI Contractors,
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TOUR Bethany MHP
Call for Offers: Wednesday, April 10th, 2024
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