Four-Unit Quadplex with Update
For Sale
$345,000
1521 W 24Th Street, Little Rock, AR 72206
Multifamily asset offering four residential units with room for cosmetic improvements.
Property Size3,696 SF
Price / SF$93.34
Days on Market52
Property Features for 1521 W 24Th Street
General Information
Standard status
Active
Size
3,696 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
cosmetic updates
Site & Location
Neighborhood
Wright Avenue
Additional Details
Multifamily Units
4
Building Details
Buildings
1
Listing Agency:
Keller Williams Realty
(501) 907-5959
Listed By:
Broderic Armstead
(501) 425-2098
Source:
Arprorealty
Added: Sep 14
Changed: Oct 25
Last Checked: Nov 3 at 6:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
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Investment Insights
Based on property information with market context.
This quadplex contains four residential units within 3,696 square feet. Each unit has a functional layout, and the property details identify cosmetic updates or other strategic improvements as potential ways to enhance the asset. The described approach may include maintaining the existing configuration or completing updates to the units.
The property is located at 1521 W 24th Street in Little Rock, Arkansas 72206. Its four-unit design provides a clearly defined multifamily configuration for an owner considering renovation work or continued operation in its current form.
The property is located at 1521 W 24th Street in Little Rock, Arkansas 72206. Its four-unit design provides a clearly defined multifamily configuration for an owner considering renovation work or continued operation in its current form.
Key Highlights
- Four‑unit quadplex configuration
- 3,696 square feet of total property size
- Each unit offers a functional layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,872
Cap Rate
8.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,440
$597.4K
Cap Rate 7%
$426,743
$426.7K
Cap Rate 9%
$331,911
$331.9K
Market Conditions
NOI Build-Up for 3,696 SF
Gross rent
$57.7K $15.60/SF
− Vacancy
−$3.3K −$0.90/SF
EGI
$54.3K $14.70/SF
− OpEx
−$24.4K −$6.61/SF
NOI
$29.9K $8.08/SF
Area
Little Rock, AR
Vacancy
5.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$597,440
Cap Rate 7%
$426,743
Cap Rate 9%
$331,911
Alternative Uses
Best Use
Multifamily LT 5
$481.9K
$421.7K – $562.3K
NOI $33,736 @ 7.0% cap · market cap 9.78%
Second Best
Apartment 5plus
$426.7K
$373.4K – $497.9K
NOI $29,872 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$671.4K
$587.5K – $783.3K
NOI $46,999 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
377
Businesses Nearby
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Business Placement
Demographics for 72206, AR
22,974
Population
10,080
Households
2.3
Avg Household Size
43
Median Age
20%
College-Educated
87%
High-School Grad
111.6 sq mi
ZIP Area
206
Density / Sq Mi
$49,145
Median Household Income
$35,157
Median Earnings
$910
Median Rent
$132,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Multifamily asset offering four residential units with room for cosmetic improvements.
Where is this quadplex located?
The property is located at 1521 W 24Th Street Little Rock, AR.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Four‑unit quadplex configuration; 3,696 square feet of total property size; Each unit offers a functional layout
