106 Breeze Street
Hot Springs, AR 71901

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Description

Turnkey Multi-Unit Investment Opportunity in Prime Hot Springs Location Welcome to 106 Breeze, a beautifully restored and fully repositioned 11-unit multifamily property located just 0.5 miles from Hot Springs National Park, an area supported by approximately 3 million annual visitors and strong workforce housing demand. This historic property offers a versatile unit mix, including a 3-bedroom, 2-bedroom, and multiple 1-bedroom units, making it ideal for long-term rentals, mid-term housing, or hybrid investment strategies. The property is currently 10/11 units occupied, with the remaining 3BR unit actively leasing at $1,000/month, positioning the asset for full occupancy at closing. Each unit has been thoughtfully updated with modern finishes while maintaining its original charm. Features include updated flooring, stainless steel gas appliances, double-sink kitchens, ample cabinetry with open shelving, ceiling fans, and climate control systems. Interiors showcase neutral gray tones with fresh white trim and benefit from abundant natural light. The property has undergone $102,112 in documented capital improvements, including: Brand-new roof (2025, $55,000) Two full unit remodels Electrical and plumbing updates Pressure washing, porch painting, and flooring upgrades These improvements significantly reduce near-term maintenance and position the asset as a low CapEx investment for years to come. Operational Advantages & Upside: All leases are on 6-month terms, allowing flexibility to adjust rents in a dynamic market Rents have already been increased $100–$150/month across multiple units, with additional upside remaining Utilities currently included, simplifying tenant budgeting and supporting occupancy A clear submetering opportunity exists, where approximately $9,200/year in owner-paid electricity can be shifted to tenants. Seller will provide implementation plans, vendor contacts, and cost estimates, having successfully completed similar projects. Additionally, the large 3BR unit offers value-add potential, with the ability to convert into a studio ($750/month) and 2BR ($950/month), increasing rental income to approximately $1,700/month (+$8,400/year) and effectively converting the asset into a 12-unit configuration. Exterior & Amenities: The property sits on expansive, tree-lined grounds offering privacy and a peaceful setting. Tenants enjoy front porches, patio areas, and shared laundry facilities with phone-pay capability. The property is also pet-friendly, broadening tenant appeal. Location: Ideally situated in the heart of Hot Springs, this property offers convenient access to downtown, lakes, outdoor recreation, and local amenities, while maintaining a quiet residential feel. Investment Summary: 106 Breeze represents a rare opportunity to acquire a stabilized, income-producing asset with significant upside, minimal deferred maintenance, and strong demand drivers in one of Arkansas' most established rental markets.

Features

• Property Type: Multi Family Home
• Sub Type: Apartment
• Listing Status: Active
• County/Area: Garland County
• Zip Code: 71901
• Year Built: 1910
• Subdivision/Neighborhood: Metes & Bounds
• School District: Hot Springs
• Style: Traditional
• Stories: 2 Story
• Lot Size: 0.68 acres
• Zoning: CI
• 1br # Of Units: 8
• 2br # Of Units: 2
• 3br # Of Units: 1
• Approx Lot Size: 142x207
• Ceiling: Sheet Rock
• Directions: Park Avenue, Left On Glade Street, Left On Mt. Ida Street, Right On Breeze St., Apartment Building On Right.
• Estimated Annual Taxes: 3146.92
• Expenses Include: Utilities
• Exterior: Frame
• Exterior Features: Outside Storage Area
• Floors: Wood
• Foundation: Crawl Space
• Heating/Air Conditioning: Window Units
• Kitchen Equipment: Gas Range, Refrigerator Stays
• Lease Type: Monthly
• Lot: Vista View
• Road Surface: Paved
• Roof: Architectural Shingle
• Source Of Square Feet: Courthouse
• Tenant Expenses: Other (See Remarks)
• Utilities: Electric-Entergy, Sewer-Public, Water-Public
• Walls: Sheet Rock