101 S Locust Searcy, AR 72143

A fantastic opportunity for a rental investment located one block from historic downtown Searcy. On the corner of E. Center and S. Locust and only a few blocks from Harding University and Legacy Park, this is very affordable housing. Built in 1980, these sixteen apartments offer one bedroom and bath with a roomy open floor plan of 535 sq. feet. The bedroom area is large enough for two beds or bunk beds. Current monthly rental income is $7,175 with a 94% occupancy rate. 10 of the apartments have been updated with premium vinyl flooring and paint and are currently leased for $550 per month. 6 apartments are currently rented for $400 and have not been remodeled. Management has notified current tenants of the increase in rent to $550 per month. Located across the street, Slader's Alaskan Dumpling Co. offers the perfect place to experience urban living and dining. Walk to The Soda Jerk for coffee and ice cream, Burrito Day has excellent Mexican food, and The Boutique has fudge and gourmet food items. Many other amenities include living close to Spring Park which has a walking trail, Searcy Library, more shopping and events like “Get Down, Downtown", "Beats and Eats" and Farmers Market.