119 Oak

Hot Springs, AR 71901

Built in 1925, the former Hot Springs High School annex building is part of Hot Springs' history. Famous for being the school attended by former President Bill Clinton, the building has been converted into 38 loft-style apartments, offering a variety of charming, well-designed units consisting of four 2BR/1BA units, four 1BR/1BA units and thirty loft-style units. Currently 37 of the 38 units are occupied, providing immediate rental income, while one unit is undergoing repairs and will soon be ready for a new tenant. A portion of the old gymnasium has been transformed into apartments, with ample space to add up to 8 smaller apartments or 4 larger apartments. Alternatively, the gym could be repurposed as a recreation area for tenants. The building features a shared on-site laundry facility and a fire suppression system for added safety. The building is commercially zoned and given its prime location near downtown Hot Springs, these apartments would also make excellent short-term rentals. The property offers on-site parking, supplemented by an additional parking lot across the street which is included in the sale. Historic tax credits may also be available in the event a buyer wishes to make improvements to the property. Whether you're an investor looking for steady income or someone passionate about unique properties, this is a rare opportunity to own a piece of history.

This is an Active listing.

Broker Office Phone Number: 501-255-0509

Copyright © 2024Hot Springs Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.