BLUFFS ON MCCAIN I & II
431 McCain Blvd, North Little Rock, AR 72116
183
Units
1975 & 1981
Built
84%
Occupancy
INVESTMENT 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; a substantial value driver in the deal and a powerful buyer magnet in a high-rate environment.
Below-market basis
$7,500,000 Purchase Price (~$41k per door) offering an attractive entry level basis with additional upside through operational stability.
Clear loss-to-lease upside
In-place effective rent is ~$1,048 against scheduled market rent supporting a ~13% loss-to-lease capture in Year 1; rents roll toward LIHTC max-allowable levels (50%/60% AMI) that remain below true market.
Occupancy + collections runway
The submarket/affordable demand is deep; the proforma underwrites a stabilized ~10% vacancy and 3% bad debt against weaker trailing performance, so the value-add is operational execution, not market timing.
No new competitive supply at this price point
Workforce/affordable product in the corridor faces limited new construction; the LIHTC structure provides a government-backed, recession-resilient tenant base.
Gallery
Office Addresses
Germantown
2320 S Germantown Road
2nd Floor
Germantown, TN 38138
Seattle
601 Union Street
Suite 3720
Seattle, WA 98101
Investment Sales
Patrick Jordan
Managing Director
901.425.1828
[email protected]
AR DRE PB00079371
Ben Parrish
Director
901.425.1829
[email protected]
TN DRE 366891
Investment Sales – Affordable Housing
Adam Tomberg
Managing Director
206.521.7218
[email protected]
WA DRE 22019732
BLUFFS ON MCCAIN I & II
431 McCain Blvd, North Little Rock, AR 72116
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