Hillsboro Townhomes El Dorado, Arkansas

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Hillsboro Townhomes

Address

1600 E Short Hillsboro St
El Dorado, AR 71730

Property Overview

Hillsboro Townhomes (the “Property”) are a rent subsidized, 152-unit, value-add multifamily opportunity located in El Dorado, Arkansas. Built in 1971, the property is constructed of brick veneer and wood painted siding with pitched gable roofs. The complex is situated on 18.826 acres with 19 apartment buildings, an office, a vacant community center, two playgrounds, and a storage shed. The unit mix consists of one, two, and three bedroom units averaging 894 square feet. Currently the property is 61.84% occupied. The Section 8 housing contract was renewed on October 1, 2014, and will last 20 years until September 30, 2034; with adjustments every 5 years. According to the HUD contract, 150 total units are contracted. As of March 2024, of the occupied units, 83 units are receiving subsidy, and 12 contracted units are occupied by market rate tenants. 

According to Costar, there are 1,006 units total in El Dorado, Arkansas. The Hillsboro Townhomes are currently the largest apartment complex taking up 15% of the market. There have not been any new apartments constructed since 2014, and there is no multifamily planned or under construction. Due to the limited supply of multifamily and multiple different avenues to add value, the Hillsboro Townhomes are a prime investment opportunity for a new multi-family investor. 


Investment Highlights

Hub of South Central Arkansas

33% of households within 3-miles are renter-occupied

Located within an opportunity zone

Ample parking

Subject property takes up 15% of multi-family market

Value-add, high vacancy property

Population in over 21,000 within a 5-mile radius

Able to achieve market rates in section 8 units

Location

Team

Brokerage Team

Mart Martindale

Mart Martindale

Principal
Edge Capital Markets
214.545.6917 mmartindale@edge-cm.com
Wilson Stafford

Wilson Stafford

Principal
Edge Capital Markets
214.545.6933 wstafford@edge-cm.com
Claire Schmeltekopf

Claire Schmeltekopf

Associate
Edge Capital Markets
214.545.6941 claire@edge-cm.com
Luke Cashman

Luke Cashman

Senior Associate
Edge Capital Markets
2144553123 lcashman@edge-cm.com

Phone
214.545.6900