Craftsman
For Sale
$289,000
118 Garland Ave, Hot Springs, AR 71913
Multi-Family, Craftsman, Hot Springs, AR
Property Size2,021 SF
Lot Size0.16 Acres
Price / SF$142
Days on Market181
Property Features for 118 Garland Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Appliances
Gas Range, Gas Range
Subdivision
Dawers
Lot features
Sloped
Directions
Hwy 70 to Hwy 7 then make aright on Garland Ave. Home on the right.
Standard status
Active
APN
400-14350-016-000
Size
2,021 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BLK 2 PT LOT 3
Tax Annual Amount
666
Legal Description
BLK 2 PT LOT 3
Building Details
Year built
1939
Floors in Building
2
Number of units
4
Flooring type
Laminate, Ceramic
Roof type
Shingle
Architectural style
Craftsman
Listing Agency:
Signature Homes Real Estate
(501) 359-3059
Listed By:
Karina Alvarez
(501) 693-4223
Added: Apr 10
Changed: Sep 12
Last Checked: Oct 7 at 4:06AM
MLS# 26014055
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.
Built in 1939, this Craftsman-style quadplex contains 2,021 square feet across four rental units: three one-bedroom, one-bath residences and one efficiency unit. Ceramic and laminate flooring, shingle roofing, and gas ranges are included among the existing property features. Electric service is separately metered by unit, while gas and water share meters.
The property occupies 0.16 acres at 118 Garland Ave in Hot Springs, Arkansas, near downtown and the area's shopping, dining, entertainment, and attractions. The combination of unit variety and utility-metering arrangement provides a clearly defined multifamily configuration for rental-property ownership.
The property occupies 0.16 acres at 118 Garland Ave in Hot Springs, Arkansas, near downtown and the area's shopping, dining, entertainment, and attractions. The combination of unit variety and utility-metering arrangement provides a clearly defined multifamily configuration for rental-property ownership.
Key Highlights
- Four‑unit configuration with three 1‑bedroom, 1‑bath units and one efficiency unit
- 2,021 square feet on a 0.16‑acre lot
- Separate electric meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,348
Cap Rate
4.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,960
$267.0K
Cap Rate 7%
$190,686
$190.7K
Cap Rate 9%
$148,311
$148.3K
Market Conditions
NOI Build-Up for 2,021 SF
Gross rent
$20.6K $10.20/SF
− Vacancy
−$1.5K −$0.77/SF
EGI
$19.1K $9.44/SF
− OpEx
−$5.7K −$2.83/SF
NOI
$13.3K $6.60/SF
Area
Garland County, AR
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$266,960
Cap Rate 7%
$190,686
Cap Rate 9%
$148,311
Alternative Uses
Best Use
Multifamily LT 5
$190.7K
$166.9K – $222.5K
NOI $13,348 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$178.2K
$155.9K – $207.9K
NOI $12,472 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$369.6K
$323.4K – $431.2K
NOI $25,872 @ 7.0% cap · market cap 8.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,466
Businesses Nearby
Explore this area
Business Placement
Demographics for 71913, AR
46,801
Population
25,441
Households
1.8
Avg Household Size
44
Median Age
28%
College-Educated
91%
High-School Grad
134.2 sq mi
ZIP Area
349
Density / Sq Mi
$55,367
Median Household Income
$32,746
Median Earnings
$970
Median Rent
$179,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit rental property with separately metered electric service and a mixed unit configuration.
Where is this quadplex located?
The property is located at 118 Garland Ave Hot Springs, AR.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Four‑unit configuration with three 1‑bedroom, 1‑bath units and one efficiency unit; 2,021 square feet on a 0.16‑acre lot; Separate electric meters for each unit
