Renovated Multifamily
For Sale
$499,000
166 168 172 176 Long Beach Drive, Hot Springs, AR 71913
Multi-Family, Traditional, Hot Springs, AR
Property Size3,212 SF
Lot Size0.39 Acres
Price / SF$155.35
Days on Market143
Property Features for 166 168 172 176 Long Beach Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Garage
Appliances
Free-Standing Stove, Refrigerator-Stays, Free-Standing Stove, Refrigerator-Stays
Subdivision
Hardage-Vance
Lot features
Level
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
Lot size
0.39 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 3B Hardage-Vance Sub
Tax Annual Amount
1673
Legal Description
Lot 3B Hardage-Vance Sub
Building Details
Year built
1999
Floors in Building
1
Number of units
5
Flooring type
Vinyl
Roof type
Metal
Architectural style
Other
Listing Agency:
ESQ. Realty Group - Hot Springs
(501) 255-0509
Listed By:
Randy Whitehead · License #SA00093211
(501) 844-9011
Added: May 28
Changed: Oct 5
Last Checked: Oct 17 at 2:06AM
MLS# 26021408
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.
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Investment Insights
Based on property information with market context.
This multifamily offering combines one duplex with three mobile homes across a 0.39-acre parcel. The five-unit property contains a mix of one- and two-bedroom residences, with four of the five units renovated. A large shop with covered areas adds functional storage space and may support additional rental use. The improvements total 3,212 square feet and include vinyl flooring, metal roofing, and a garage. The property was built in 1999 and is partially fenced.
Located at 166, 168, 172, and 176 Long Beach Drive in Hot Springs, the property is within walking distance of Dollar General and Harps Grocery. It is also situated in the Lakeside School District, providing a defined residential setting for the existing multifamily configuration.
Located at 166, 168, 172, and 176 Long Beach Drive in Hot Springs, the property is within walking distance of Dollar General and Harps Grocery. It is also situated in the Lakeside School District, providing a defined residential setting for the existing multifamily configuration.
Key Highlights
- Five‑unit package with one duplex and three mobile homes
- 3,212 square feet on 0.39 acres
- Four of five units have been renovated
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.
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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
Frequently Asked Questions
What type of property is this?
Multifamily property - Five-unit residential package with a duplex, mobile homes, storage improvements, and access to nearby daily retail.
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‑unit package with one duplex and three mobile homes; 3,212 square feet on 0.39 acres; Four of five units have been renovated
