New Construction 5-Unit Townhome
1951-1991 Lapis Avenue Centerton, AR 72719
New
For Sale
$1,734,480
MULTI_FAMILY - Contemporary - Centerton, AR
Property Size7,982 SF
Lot Size0.54 Acres
Price / SF$217.30
Days on Market3
Property Features for 1951-1991 Lapis Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Property condition
- Under Construction
- Bedrooms
- 15
- Bathrooms
- 15
- Rooms
- Bedroom 13, Bedroom 1, Bathroom 7, Bathroom 1, Bathroom 9, Bedroom 14, Bedroom 11, Bathroom 3, Bedroom 8, Bedroom 9, Bedroom 7, Bathroom 13, Bedroom 5, Bathroom 11, Bedroom 2, Bedroom 4, Bathroom 5, Bedroom 12, Bedroom 3, Bathroom 8, Bathroom 10, Bedroom 15, Bathroom 14, Bedroom 10, Bathroom 6, Bathroom 4, Bathroom 2, Bedroom 6, Bathroom 12, Bathroom 15
- Parking features
- Open, Garage
- Patio and Porch features
- Porch, Patio
- Exterior features
- ConcreteDriveway
- Fireplace
- 1
- Appliances
- Dishwasher, ElectricWaterHeater, Disposal, GasOven, GasRange, Microwave, RangeHood
- Standard status
- Active
- APN
- 06-09269-000
- Size
- 7,982 SF
- Lot size
- 0.54 Acres
Taxes and HOA fees
- Tax Description
- PLAT 3/28/2024 L202415156 CRYSTAL COVE PH II-CENTERTON OF 3/28/2024 L202415156 (AKA CRYSTAL COVE HORIZONTAL PROPERTY REGIME-MASTER DEED 3/28/2024 L202415158 & AMENDED MASTER DEED 5/14/2024 L202424714(BYLAWS EXHIBIT C PG 36)-SEE ADMIN NTS REGARDING
- Tax Annual Amount
- 21472
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Central
- Cooling system
- Central Air, Electric
- Water source
- Public
Building Details
- Year built
- 2026
- Floors in Building
- 2
- Number of units
- 5
- Flooring type
- Tile, Carpet
- Building materials
- Brick, Concrete
- Roof type
- Shingle
- Architectural style
- Contemporary
Listing Agency:
Lone Rock Realty
(479) 777-3379
Listed By:
Colley Bailey · License #PB00076160
(479) 856-9422
Added: Jul 23
Last Checked: Jul 25 at 6:06AM
MLS# 1356397
Copyright © 2026 ArkansasONE MLS. 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.
Crystal Cove Townhomes is a newly constructed five-unit multifamily property for sale at 1951–1991 Lapis Avenue in Centerton, AR. The community consists of five townhome-style units, each featuring approximately 1,606 square feet with three bedrooms and 2.5 baths. Unit layouts include a primary suite on the main level, open-concept living space with vaulted ceilings, and an electric fireplace. The upper level offers two additional bedrooms, a full bath, and a loft-style overlook.
Each unit also includes a covered patio and private backyard space, supporting an indoor/outdoor living setup.
With a total of five units and 15 bedrooms across the property, Crystal Cove Townhomes provides a straightforward income-producing configuration within a new-construction framework designed to reduce ongoing maintenance needs.
Each unit also includes a covered patio and private backyard space, supporting an indoor/outdoor living setup.
With a total of five units and 15 bedrooms across the property, Crystal Cove Townhomes provides a straightforward income-producing configuration within a new-construction framework designed to reduce ongoing maintenance needs.
Key Highlights
- Crystal Cove Townhomes: new construction 5‑unit multifamily (Year built 2026), listed as under construction
- Unit size: ~1,606 SF each with 3 bedrooms and 2.5 baths
- Main‑level primary suite plus open‑concept living with vaulted ceilings, including an electric fireplace
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $125.5k | $15.72 |
| − Vacancy | −$7.3k | −$0.91 |
| EGI | $118.2k | $14.81 |
| − OpEx | −$53.2k | −$6.66 |
| NOI | $65.0k | $8.14 |
7,982 SF · lease $15.72/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$928.7K
$812.6K – $1.08M
NOI $65,010 @ 7.0% cap · market cap 3.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.92M – $2.56M
NOI $153,546 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Five newly built townhome-style units with covered patios and private backyard space are offered for sale in Centerton, Arkansas.
Where is this apartment building located?
The property is located at 1951-1991 Lapis Avenue Centerton, AR.
What is the asking price?
The asking price for this property is $1,734,480.
What are key features of this property?
This property features: Crystal Cove Townhomes: new construction 5‑unit multifamily (Year built 2026), listed as under construction; Unit size: ~1,606 SF each with 3 bedrooms and 2.5 baths; Main‑level primary suite plus open‑concept living with vaulted ceilings, including an electric fireplace
