HomeMy WebLinkAboutLetter of IntentCover Letter for HAT PROPERTIES LLC Application — PRD
Address: 300 S. Valentine, Parcel# 34L0600000100
The property was recently purchased by HAT Properties LLC. At the time of purchase, the property was
in use as residential, 4-plex. The building contains ONE 2 bedroom apartment and THREE 1 bedroom
apartments.
It is unclear if the building was originally built for multifamily use or single family use. However, it does
appear that the building has been used for multifamily for many, many years. This is evident by the ages
of kitchen and bathroom components and composition. Additional evidence of age can be seen in
general wear and tear of the building. Finally, there are four separate exterior entrances with long
established addresses above each door. Entrance one indicates 300 S. Valentine as address. Entrance 2
indicates 3601 West 3rd as address. Entrance 3 indicates 3603 West 3rd as address. Entrance 4 indicates
3605 West 3rd as address.
Currently, the building is zoned as R-3 by the city of Little Rock. The Pulaski County Assessor currently
shows property as multifamily.
The intent of ownership is to update zoning to reflect historical and current use so that the property can
function legally moving forward. Additionally, the due to the conflict of zoning versus current use, the
property does not conform to bank lending standards and financing choices are limited until zoning
status can be updated to conforming use.