RPM Group sells downtown multifamily property
June 25 - July 1, 2018
RPM Group/Corfac International, a leading full-service real estate brokerage specializing in commercial sales and leasing sold a multifamily property located in downtown Little Rock, Ark., for $850,000, in early June. Rick Freeling, president of RPM Group Commercial division represented the Buyer, Mac Park Place, LLC in this transaction. Mac Park Place, LLC is owned by Josh Malone.
Located at 916 Commerce Street in the historic downtown Quapaw Quarter, the three-story multifamily property is 22,456 square feet and contains 27 units consisting of one, two and three bedrooms. The property is primly location across from the Arkansas Art Center and historic MacArthur Park and in close proximity to an abundance of residential neighborhoods, quality restaurants and retail shops.
Malone currently owns several other multifamily properties in the downtown area and plans to keep this property as a long term investment. “At the time of the sale, the property was in excellent condition requiring no immediate rehabilitation.” stated Freeling, “Malone will do property upgrades as they are needed.” The property was completely remodeled after a fire destroyed much of the building in 2002.
With over 300 associates, RPM Group is Arkansas’s largest, full-service real estate company. The Operating divisions include RPM Commercial and Investment, RPM Management and Coldwell Banker RPM Group (residential). Together, the divisions provide a breadth of real estate focused services unmatched in the state, including commercial sales, leasing and investment, property management, residential sales and leasing, construction and development. The Little Rock based company was founded by William F. Rector in l955.
Source: RPM Group
RPM Group sold 916 Commerce Street to Josh Malone in early June. (Photo provided)