116 W Pine Ave.

Description

Prime Investment Opportunity in El Dorado Historic District - Strong Income with Significant Upside! Exceptional mixed-use investment property featuring 14 office spaces on the main level and 5 fully-leased apartments on the upper level. Currently generating $3,835/month with substantial room for growth, this property has demonstrated income potential of $5,000-$6,000/month when fully occupied! All 5 apartments are 100% occupied, and 6 of the 14 main level offices are currently leased, presenting an immediate opportunity to increase income by over 50% through strategic leasing. This solid brick building, constructed in 1900, sits prominently on the corner of W. Pine Ave. and S. Main Street with excellent visibility and traffic flow. Located directly across from the El Dorado Judicial Building, it benefits from consistent foot traffic and professional proximity in the heart of the El Dorado Historic District. The main level commercial space includes 14 individual office suites along with a shared conference room and kitchen. The well-maintained carpeted spaces throughout are perfect for professional services, medical offices, or small businesses. The upper level residential component features one studio apartment, three one-bedroom one-bathroom units, and one two-bedroom two-bathroom unit. All apartments showcase attractive brick accent walls and benefit from a convenient downtown location near shopping and churches. Units historically rent from $500-$600/month. This property offers investors proven rental history with strong demand, diversified income streams through both commercial and residential spaces, and the character and charm of a historic building in a prime downtown location. The significant value-add opportunity through lease-up of vacant office spaces makes this an exceptional acquisition opportunity with immediate cash flow and a clear path to substantial income growth!