Light Value-Add Opportunity: New ownership will have the opportunity to add value to the property by updating the interiors, such as new flooring, countertops, appliances or painted cabinets.
Well Maintained Asset: Current ownership has spent over $430,000 maintaining the asset, including painting all buildings, replacing damaged wood, new roofs on 8 buildings, new heating & A/C units in 68 units, and replacing appliances as needed.
Upgrade Amenities Package: Terrace Villa provides the potential to enhance the existing amenities package:
Convenient Location to Demand Drivers: The property allows tenants quick access to many of El Dorado’s best demand drivers, including:
Access to Major Employers: El Dorado is home to several major local employers, including:
$100+ Million Downtown Revitalization: Murphy Arts District includes an 8,000-capacity outdoor amphitheater, the Griffin Restaurant (El Dorado’s first fine-dining farm-to-table establishment), the Griffin Music Hall and Cabaret, a 2,000-seat music hall with a four-story stage house, and a 10,000-square-foot gallery for national and international exhibits
Nearby Opportunity Zone Provides Attractive Development Opportunity: Terrace Villa is located less than 3 miles from El Dorado’s two Opportunity Zones, providing a future roadmap for developers.