Five-Unit Multifamily
For Sale
$499,000
166 168 172 176 LONG BEACH Drive, Hot Springs, AR 71913
MULTI-FAMILY, Hot Springs, AR
Property Size3,212 SF
Price / SF$155.35
Days on Market90
Property Features for 166 168 172 176 LONG BEACH Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Rooms
Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 6, Bedroom 7, Bedroom 3
Subdivision
Hardage-Vance
Elementary school district
Lakeside
Middle school district
Lakeside
High school district
Lakeside
Directions
Take W Grand, left on Central/Hwy 7S, left on Long Beach Dr and property is on the right.
Standard status
Active
Size
3,212 SF
Taxes and HOA fees
Tax Description
Lot 3B Hardage-Vance Subdivision, Garland County, AR
Legal Description
Lot 3B Hardage-Vance Subdivision, Garland County, AR
Amenities
partially fenced
Building Details
Year built
1999
Number of units
5
Listing Agency:
ESQ. Realty Group
(501) 255-0509
Listed By:
Randy Whitehead · License #SA00093211
(501) 844-9011
Added: Jul 13
Changed: Oct 8
Last Checked: Oct 10 at 12:06AM
MLS# 155669
Copyright © 2026 Hot Springs Board of Realtors. 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 offering contains one duplex and three mobile homes arranged as five residential units. The unit mix includes one- and two-bedroom layouts, and four of the five units have been renovated. A large shop with covered areas adds on-site storage space, while partial fencing provides additional site definition. The property totals 3,212 square feet and was built in 1999.
The property is located on Long Beach Drive in Hot Springs, within walking distance of Dollar General and Harps Grocery. It is also situated in the Lakeside School District. The combination of residential units, shop space, covered areas, and renovation work creates a varied physical configuration for multifamily ownership.
The property is located on Long Beach Drive in Hot Springs, within walking distance of Dollar General and Harps Grocery. It is also situated in the Lakeside School District. The combination of residential units, shop space, covered areas, and renovation work creates a varied physical configuration for multifamily ownership.
Key Highlights
- Five residential units comprising 1 duplex and 3 mobile homes
- Four of the five units have been renovated
- Unit mix includes 1- and 2‑bedroom residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,214
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$424,280
$424.3K
Cap Rate 7%
$303,057
$303.1K
Cap Rate 9%
$235,711
$235.7K
Market Conditions
NOI Build-Up for 3,212 SF
Gross rent
$32.8K $10.20/SF
− Vacancy
−$2.5K −$0.77/SF
EGI
$30.3K $9.44/SF
− OpEx
−$9.1K −$2.83/SF
NOI
$21.2K $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%
$424,280
Cap Rate 7%
$303,057
Cap Rate 9%
$235,711
Alternative Uses
Best Use
Multifamily LT 5
$303.1K
$265.2K – $353.6K
NOI $21,214 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$283.2K
$247.8K – $330.4K
NOI $19,821 @ 7.0% cap · market cap 3.97%
Theoretical Best
Office A
$587.4K
$514.0K – $685.3K
NOI $41,119 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
164
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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Multifamily property - Renovated residences are paired with a shop and covered areas for storage.
Where is this multifamily property located?
The property is located at 166 168 172 176 LONG BEACH Drive Hot Springs, AR.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Five residential units comprising 1 duplex and 3 mobile homes; Four of the five units have been renovated; Unit mix includes 1- and 2‑bedroom residences
