260 Central Avenue
Hot Springs, AR 71901

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Description

Federal & State Historic Tax Credit approved. Ground level is in the Highest foot traffic with 4 retail tenants producing long term rental income and the lobby for upstairs. 80 +/- units on floors 2-5 for redevelopment opportunity in the heart of downtown Hot Springs National Park, Arkansas just across from the thermal springs that made it famous. Street level retail is nicely updated and fire sprinkled. Upper floors with incredible Carrera Marble, common hallways with original pristine Mosaic tile floors, vast National Park mountain views with lush greenery, adjacent architecture sights and on South facing side views as far as the eye can see. Every unit has high ceilings, sensible floor plan opportunity + several original bathrooms in tact. There is an elevator shaft and original elevator car. There are 2 skylights, one is stained leaded glass. Preservation work such as retail spaces remodeled to current code, debris removal, some basement work and TPO Membrane roofing. The last building in downtown of this magnitude. Most all downtown buildings have sold, are redeveloped, being held for future plans or are in process of remodel. An Aloft Hotel is begun a couple doors up. 256, 258, 260, 262 & 264 Central Avenue Hot Springs National Park, Arkansas 71901 *mostly tourist town with 2 million plus visitors/year *immediate paved walking or mountain hiking & biking trails *neighboring restaurants, hotels & shopping *public springs for drinking water *incredible air quality *overall relaxed informal area *casino/Thoroughbreds *lake area The long term investment will certainly provide for generational wealth transfer.

Features

• Property Type: Condo/Townhouse
• Sub Type: Condo/Townhouse
• Listing Status: Active
• County/Area: Garland County
• Zip Code: 71901
• Year Built: 1895
• Subdivision/Neighborhood: Hot Springs Reservation
• School District: Hot Springs
• Sq.Ft.: 48,632 sq ft
• Style: Traditional
• Stories: Other (See Remarks)
• Bedrooms: 80
• Full Baths: 80
• Half Baths: 4
• Basement: See Basement Details
• Lot Size: 16553 sq ft lot
• Baths: 84
• Zoning: RN-1 Res Nbhd 1 District
• Approx Lot Size: 95x175
• Basement Details: Full Basement, Inside Access Basement, Outside Access Basement, Sump Pump, Unfinished Basement
• Directions: 256-264 Central Avenue Across From Bathhouse Row & Adjacent The Arlington
• Estimated Annual Taxes: 9742
• Exterior: Brick
• Floors: Concrete, Natural Stone, Tile, Wood
• Foundation: Slab
• Heating/Air Conditioning: Central Cool - Electric, Central Heat - Electric
• Interior Features: Skylight(S)
• Lot: Resort Property, Mountain View, In City
• Parking: On Street Parking Only
• Road Surface: Paved
• Roof: Other (See Remarks), Rolled
• Source Of Acreage: Tax Records
• Source Of Square Feet: Tax Records
• Utilities: Sewer - Municipal, Water - Municipal, Electric – Entergy
• Walls: Plaster