10-Unit Apartment
For Sale
$815,000
4713-4801 Hickory, North Little Rock, AR 72116
Multi-Family, Traditional, North Little Rock, AR
Property Size7,560 SF
Lot Size0.64 Acres
Price / SF$107.80
Days on Market77
Property Features for 4713-4801 Hickory
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Appliances
Free-Standing Stove, Free-Standing Stove
Subdivision
Parkhill 15N
Lot features
Sloped, Level, In Subdivision
Directions
JFK to Hickory Ave.
Standard status
Active
Size
7,560 SF
Lot size
0.64 Acres
Taxes and HOA fees
Tax Description
Lot 125-126, Block 202
Tax Annual Amount
6335
Legal Description
Lot 125-126, Block 202
Building Details
Year built
1969
Floors in Building
2
Number of units
10
Flooring type
Carpet - Partial, Laminate
Roof type
Shingle
Architectural style
Other
Listing Agency:
McKimmey Associates REALTORS NLR
(501) 812-3500
Listed By:
Chad Taylor
(501) 231-7612
Added: Jun 30
Changed: Sep 13
Last Checked: Sep 14 at 7:06AM
MLS# 26027882
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property includes two apartment buildings with five units each, totaling 10 residential units. Every apartment offers a two-bedroom, one-bathroom layout within 7,560 square feet of building area. The improvements date to 1969 and include new shingle roofs. Interior features include free-standing stoves, partial carpet, and laminate flooring.
The property occupies 0.64 acres at 4713-4801 Hickory in North Little Rock, Arkansas, within the 72116 postal area. Its two-building configuration provides a consistent unit profile across the property, with the same bedroom and bathroom arrangement in each apartment.
The property occupies 0.64 acres at 4713-4801 Hickory in North Little Rock, Arkansas, within the 72116 postal area. Its two-building configuration provides a consistent unit profile across the property, with the same bedroom and bathroom arrangement in each apartment.
Key Highlights
- 10 total apartment units arranged in two 5‑unit buildings
- Each apartment has 2 bedrooms and 1 bathroom
- 7,560 square feet of building area on 0.64 acres
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,872
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,137,440
$1.1M
Cap Rate 7%
$812,457
$812.5K
Cap Rate 9%
$631,911
$631.9K
Market Conditions
NOI Build-Up for 7,560 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$109.8K $14.52/SF
− Vacancy
−$6.4K −$0.84/SF
EGI
$103.4K $13.68/SF
− OpEx
−$46.5K −$6.16/SF
NOI
$56.9K $7.52/SF
Area
Pulaski County, AR
Vacancy
5.80%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,137,440
Cap Rate 7%
$812,457
Cap Rate 9%
$631,911
Alternative Uses
Best Use
Apartment 5plus
$812.5K
$710.9K – $947.9K
NOI $56,872 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.44M
$1.26M – $1.68M
NOI $100,946 @ 7.0% cap · market cap 12.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 72116, AR
21,715
Population
10,556
Households
2.1
Avg Household Size
42
Median Age
42%
College-Educated
97%
High-School Grad
6.5 sq mi
ZIP Area
3,341
Density / Sq Mi
$75,490
Median Household Income
$46,256
Median Earnings
$1,058
Median Rent
$218,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two separate buildings feature consistent apartment layouts and new shingle roofs.
Where is this apartment building located?
The property is located at 4713-4801 Hickory North Little Rock, AR.
What is the asking price?
The asking price for this property is $815,000.
What are key features of this property?
This property features: 10 total apartment units arranged in two 5‑unit buildings; Each apartment has 2 bedrooms and 1 bathroom; 7,560 square feet of building area on 0.64 acres
