LR4 Portfolio Little Rock, AR

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LR4 Portfolio

Address

Legacy Pointe
6838 Cantrell Road,
Little Rock, Arkansas 72207


Midtown @ 7575
7575 Cantrell Road,
Little Rock, Arkansas 72207


Normandy Place
7111 Indiana Avenue,
Little Rock, Arkansas 72207


The Cove @ 300
300 Indianhead Drive,
Sherwood, Arkansas 72120

Summary

  • Number of Assets: 4
  • Number of Units: 416
  • Years Built: 1964-1979
  • Year Renovated: 2023

Investment Highlights

  • Offered Individually or as a Portfolio: 416 Units Offer Immediate Scale in Little Rock MSA
  • Multiple Value-Add Avenues, Including Day-One Upside
  • $2.7M Recently Invested in CapEx
  • Strategically Located to Capitalize on Little Rock MSA
  • Alluring Amenity Packages
  • Proven Upside via Low Flow Water Fixtures
  • Attractive Unit Mix
  • Offered with Attractive In-Place Financing & Free and Clear

416 Units Offer Immediate Scale in Little Rock MSA 

Normandy Place, Midtown @ 7575, and Legacy Pointe are located within a 1,200 ft radius of one another, enabling an investor new to the Little Rock market to obtain an immediate and significant foothold of 298 units in a single transaction within the Midtown submarket. Legacy Pointe (126 units) and The Cove at 300 (118 Units) also offer sufficient scale to operate a dedicated on-site staff independent of the remaining assets. 

However, acquiring the entire portfolio will generate ideal economies of scale and maximum operating efficiencies within a tight submarket of Little Rock. This allows investors who are new to the market to operate more efficiently. Fixed costs, such as landscaping, maintenance, and administrative expenses, can be spread across a greater number of units. As a result, the cost per unit decreases. 

Acquiring the entire portfolio also offers investors the significant advantage of establishing an immediate geographic footprint in the Little Rock MSA. This rapid market penetration will allow new ownership to become visible to potential tenants, competitors, and local stakeholders quickly. An immediate geographic footprint sets the foundation for future growth in the market, allowing for more efficient expansion. This scalability can lead to increased operational efficiency and a stronger overall presence in the market over time. 

$2.7M Recently Invested in CapEx 

Minimal CapEx is required as current ownership has invested over $2.7M in recent years, taking risk off the table for future ownership. This includes new roofs, amenity upgrades, exterior updates, parking lot renovations, improved signage, water saving fixtures, and much more! (See detailed CapEx Schedule for each asset within OM). This allows a buyer to focus on finishing out the value-add play, which contributes directly to increasing rents! 

Strategically Located to Capitalize on Little Rock MSA 

New ownership can capitalize on the growing Little Rock MSA and new development in the area, especially in the immediate Midtown area. The continued development of The District at Midtown, revitalization of Park Plaza Mall, and repurposing of the War Memorial Golf Course will boost renter appeal in an already supply-constrained Midtown Submarket. A substantial number of units were taken offline by the recent Little Rock tornado. It is unlikely these units will be restored in a timely fashion given the constrained labor pool and vast amount of reconstruction needed. 

The portfolio also boasts convenient connectivity to the entire MSA. Normandy Place, Legacy Pointe, and Midtown exhibit incredible connectivity to major highways and arterials throughout the MSA including Cantrell Rd (Highway 10), Mississippi St, and University Ave, which provide access to I-430 to the west, I-630 to the south, and I-30 to the east. This provides convenient access to entertainment and business districts including the River Market, Downtown Little Rock, the Outlets of Little Rock, and the Promenade at Chenal, all within 15 minutes. 

Location Map

Amenities

  • Legacy Pointe at Cantrell

    Unit Amenities:

    Washer/Dryer Hookups *, Renovated Units *, Dishwasher, Ceiling Fans, Garbage Disposal, Pet Friendly, High-Speed Internet Access, Patio/Balcony, Walk-In Closets

    *Select Units Only

  • Legacy Pointe at Cantrell

    Site Amenities:

    Recently Renovated On-site Laundry Facility, Newly Renovated Pool, Outdoor Kitchen Area with Furniture & Pergola, Recently Remodeled Clubhouse, Fitness Center, Leasing Office, On-Site Staffing, 24-Hr Emergency Maintenance

  • Midtown @ 7575

    Unit Amenities:

    Private Patio/Balcony *, Renovated Units *, Washer/Dryer Hookups *, Pet Friendly, Ceiling Fans, Garbage Disposal, Cable Ready, Dishwasher

    *Select Units Only

  • Midtown @ 7575

    Site Amenities:

    Pool, On-Site Laundry Facility, Leasing Office, Pet Waste Baggie Stations

  • Normandy Place

    Unit Amenities:

    Ceiling Fans, Renovated Units *, Cable Ready, Large Closets, Private Patio/Balcony w/Storage Closet, Garbage Disposal, Dishwasher, Pet Friendly

    *Select Units Only

  • Normandy Place

    Site Amenities:

    On-Site Laundry Facility, Pool, On-Site Staffing, 24-Hr Emergency Maintenance

  • The Cove @ 300

    Unit Amenities:

    Private Patio/Balcony*, Recently Renovated Interiors*, Garbage Disposal, Ceiling Fans, Walk-In Closets, Dishwasher

    *Select Units Only

  • The Cove @ 300

    Site Amenities:

    Leasing Office, Recently Renovated Lounge/Clubhouse, On-Site Laundry Facility, 24-Hr Emergency Maintenance, Recently Updated Exteriors, Landscaped Grounds, Soon to be Completed: Community Patio Space with Pergola and Grills

Team

Brokerage Team

When evaluating your options for a partner to assist with the sale of your multifamily asset, there are a number of factors you may consider. From experience and market knowledge to marketing prowess and ongoing support, each plays an integral role in creating a positive experience and a profitable outcome. Yet the one competency you may never have considered could be the one that matters most: the ability to move capital across markets efficiently and effectively. 


MMG possesses a unique combination of talent, resources, expertise, and access that delivers an elevated experience from acquisition to disposition. Discover the benefits of a partnership with us.


Holden Chavis

Associate Advisor
MMG REA
501.690.4406 holden.chavis@mmgrea.com

Brayden Graham

Associate
MMG REA
913.213.7141 brayden.graham@mmgrea.com

Zach Croake

Associate
MMG REA
913.956.8559 zach.croake@mmgrea.com

Kyle Winston

Senior Advisor
MMG REA
913.375.8254 kyle.winston@mmgrea.com

Brett Meinzer

Managing Director
MMG REA
816.516.8515 brett.meinzer@mmgrea.com

Alex Blagojevich

Executive Managing Director/Founding Partner
MMG REA
773.899.0391 alex.blagojevich@mmgrea.com

Scott Reid

In Association With ParaSell, Inc.
949.924.6578 scott@parasellinc.com

In Association With

Scott Reid ParaSell, Inc. Arkansas Broker License: #PB00078916

Get In Touch

Address

MMG Real Estate Advisors

601 Westport Road

Kansas City, MO 64111