19-Unit Updated Apartment
For Sale
$2,100,000
1839 Tyler Street Price Reduced Price Reduced, Conway, AR 72034
Fully occupied multifamily property with extensive interior and exterior improvements near Hendrix College and downtown Conway.
Property Size17,617 SF
Price / SF$119.20
Days on Market51
Property Features for 1839 Tyler Street Price Reduced Price Reduced
General Information
Standard status
Active
Size
17,617 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Multifamily Units
19
Listing Agency:
Moses Tucker Partners
(501) 376-6555
Listed By:
Clint Bailey · License #SA00073895
(501) 358-8280
Source:
Arprorealty
Added: Aug 26
Changed: Oct 10
Last Checked: Oct 14 at 10:34PM
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 Moses Tucker Partners
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Investment Insights
Based on property information with market context.
This 19-unit apartment complex contains 17 residences with updated wood-look tile flooring and coordinated interior paint. Property improvements include a roof installed in 2021, refreshed exterior columns, and renovated corridors with new doors, flooring, paint, and upgraded lighting. Unit doors have been repainted and renumbered, while water shutoffs were upgraded with ball valves. LED fixtures were also added at all front entrances.
The complex is fully occupied and positioned near Hendrix College, The Village at Hendrix, and downtown Conway. Exterior grounds feature replacement rock landscaping designed for reduced upkeep. The property encompasses 17,617 square feet and is located at 1839 Tyler Street in Conway, Arkansas.
The complex is fully occupied and positioned near Hendrix College, The Village at Hendrix, and downtown Conway. Exterior grounds feature replacement rock landscaping designed for reduced upkeep. The property encompasses 17,617 square feet and is located at 1839 Tyler Street in Conway, Arkansas.
Key Highlights
- 19‑unit multifamily complex with 17,617 square feet
- 17 of 19 units updated with wood‑look tile flooring and coordinated interior paint
- Roof installed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,904
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,118,080
$2.1M
Cap Rate 7%
$1,512,914
$1.5M
Cap Rate 9%
$1,176,711
$1.2M
Market Conditions
NOI Build-Up for 17,617 SF
Gross rent
$205.1K $11.64/SF
− Vacancy
−$12.5K −$0.71/SF
EGI
$192.6K $10.93/SF
− OpEx
−$86.6K −$4.92/SF
NOI
$105.9K $6.01/SF
Area
Faulkner County, AR
Vacancy
6.10%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,118,080
Cap Rate 7%
$1,512,914
Cap Rate 9%
$1,176,711
Alternative Uses
Best Use
Apartment 5plus
$1.51M
$1.32M – $1.77M
NOI $105,904 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.02M
$3.52M – $4.69M
NOI $281,277 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
19
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
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Business Placement
Demographics for 72034, AR
47,873
Population
22,523
Households
2.1
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
47.9 sq mi
ZIP Area
999
Density / Sq Mi
$61,675
Median Household Income
$40,511
Median Earnings
$993
Median Rent
$250,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with extensive interior and exterior improvements near Hendrix College and downtown Conway.
Where is this apartment building located?
The property is located at 1839 Tyler Street Price Reduced Price Reduced Conway, AR.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 19‑unit multifamily complex with 17,617 square feet; 17 of 19 units updated with wood‑look tile flooring and coordinated interior paint; Roof installed in 2021
