Renovated 8-Unit Apartment
For Sale
$799,000
1900 Labette Manor Drive, Little Rock, AR 72205
Townhome-style units offer three bedrooms, private storage, and convenient access to interstates, healthcare, shopping, and dining.
Property Size8,582 SF
Price / SF$93.10
Days on Market57
Property Features for 1900 Labette Manor Drive
General Information
Standard status
Active
Size
8,582 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Average Monthly Rent
$895
Highway Access
Yes
Multifamily Units
8
Amenities
washer & dryer hookups
onsite parking
extra private storage
Listing Agency:
Mid South Realty
(501) 444-2055
Listed By:
Kari Clay
(501) 240-3117
Source:
Heilesassociatesrealtors
Added: Jul 26
Changed: Sep 14
Last Checked: Sep 19 at 9:09AM
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 Mid South Realty
Investment Insights
Based on property information with market context.
This 8-unit apartment property contains matching townhome-style layouts, with three bedrooms and a full bathroom upstairs and a living room, furnished kitchen, and half bathroom on the main level. Each residence includes washer and dryer hookups, separate front and rear entrances, onsite parking, and additional private outdoor storage. The property has been renovated within the last 4 years and totals 8,582 square feet.
Located in West Central Little Rock, the property is near interstate access, Baptist hospital, shopping, and dining. Downtown Little Rock is approximately 10–15 minutes away. All units are currently leased, providing an established operating profile for an apartment investor.
Located in West Central Little Rock, the property is near interstate access, Baptist hospital, shopping, and dining. Downtown Little Rock is approximately 10–15 minutes away. All units are currently leased, providing an established operating profile for an apartment investor.
Key Highlights
- 8‑unit apartment property totaling 8,582 square feet
- Renovated within the last 4 years
- Each unit includes 3 bedrooms upstairs, a full bath, and a main‑level half bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$69,363
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.68%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,387,260
$1.4M
Cap Rate 7%
$990,900
$990.9K
Cap Rate 9%
$770,700
$770.7K
Market Conditions
NOI Build-Up for 8,582 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$133.9K $15.60/SF
− Vacancy
−$7.8K −$0.90/SF
EGI
$126.1K $14.70/SF
− OpEx
−$56.8K −$6.61/SF
NOI
$69.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,387,260
Cap Rate 7%
$990,900
Cap Rate 9%
$770,700
Alternative Uses
Best Use
Apartment 5plus
$990.9K
$867.0K – $1.16M
NOI $69,363 @ 7.0% cap · market cap 8.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,131 @ 7.0% cap · market cap 13.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
579
Businesses Nearby
Explore this area
Business Placement
Demographics for 72205, AR
22,888
Population
12,187
Households
1.9
Avg Household Size
39
Median Age
54%
College-Educated
96%
High-School Grad
8.0 sq mi
ZIP Area
2,861
Density / Sq Mi
$62,888
Median Household Income
$50,948
Median Earnings
$1,110
Median Rent
$204,400
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?
Apartment building - Townhome-style units offer three bedrooms, private storage, and convenient access to interstates, healthcare, shopping, and dining.
Where is this apartment building located?
The property is located at 1900 Labette Manor Drive Little Rock, AR.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 8‑unit apartment property totaling 8,582 square feet; Renovated within the last 4 years; Each unit includes 3 bedrooms upstairs, a full bath, and a main‑level half bath
