A 46-unit multifamily property in Little Rock sold recently for $2.25 million. The purchase price equals $48,913 per unit.
Hidden Valley Investment Properties LLC, registered to Mohammed Rahman, is the new owner of Hidden Valley Apartments at 225 Keightley Drive, just off Cantrell Road. HVA Properties LLC, registered to Patrick Garner, was the seller.
Colliers International Arkansas in Little Rock brokered the deal, led by Cole Herget and Drew Holbert, and announced the sale Thursday (Dec. 3).
“This sale is a great example of the demand for well-located, Class B assets within the Little Rock metro area,” Herget said in a statement. “Its stable occupancy and midtown location will prove to be a lucrative opportunity for the new ownership.”
Hidden Valley was built in 1983 and features 32 one-bedroom and 14 two-bedroom units across four buildings on 3.23 acres. Features include an on-site pool and clubhouse. Total square footage is 36,240.
The property was 100% leased on the sale date.