Three-Unit Apartment
For Sale
$650,000
216 E Spring Street, Fayetteville, AR 72701
Residential, Fayetteville, AR
Property Size3,072 SF
Lot Size0.11 Acres
Price / SF$211.59
Days on Market157
Property Features for 216 E Spring Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
Multi Family
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Basement, Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 3
Parking features
Assigned
Exterior features
ConcreteDriveway
Appliances
Dryer, ElectricWaterHeater, Refrigerator, Washer
Subdivision
Valley View Sub
Lot features
Central Business District, City Lot, Near Park
Elementary school district
Fayetteville
Middle school district
Fayetteville
High school district
Fayetteville
Directions
From North College, Turn East on E Spring Street. 216 E Spring will be down the hill on your left.
Standard status
Active
APN
765-11663-000
Size
3,072 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Description
LOT 8 BLOCK 2
Tax Annual Amount
4568
Legal Description
LOT 8 BLOCK 2
Utilities
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Building Details
Year built
1941
Floors in Building
3
Number of units
3
Flooring type
Concrete, Wood, Carpet
Building materials
WoodSiding
Roof type
Asphalt, Shingle
Listing Agency:
Navigate Real Estate
Listed By:
Jackson Williams · License #PB00059990
(479) 841-3639
Added: May 6
Changed: Sep 16
Last Checked: Oct 9 at 6:06PM
MLS# 1342931
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.
This 3,072-square-foot triplex was built in 1941 on a 0.1113-acre lot and contains three separate residential units. The property includes large-room layouts, wood, concrete, and carpet flooring, wood siding, asphalt shingle roofing, central electric heating and cooling, and assigned parking supported by a concrete driveway. Appliances include refrigerators, washers, dryers, and electric water heaters.
Located at 216 E Spring Street in Fayetteville, the property sits one block south of N College and three blocks from Dickson Street and the Fayetteville Square. All three units are tenant occupied and currently leased. Interior access is available after a pre-approved contract is in place, with instructions to avoid disturbing residents.
Located at 216 E Spring Street in Fayetteville, the property sits one block south of N College and three blocks from Dickson Street and the Fayetteville Square. All three units are tenant occupied and currently leased. Interior access is available after a pre-approved contract is in place, with instructions to avoid disturbing residents.
Key Highlights
- Three‑unit apartment property totaling 3,072 square feet
- 0.1113‑acre lot at 216 E Spring Street, Fayetteville, AR 72701
- Built in 1941 with wood siding and asphalt shingle roofing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,646
Cap Rate
4.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,920
$552.9K
Cap Rate 7%
$394,943
$394.9K
Cap Rate 9%
$307,178
$307.2K
Market Conditions
NOI Build-Up for 3,072 SF
Gross rent
$42.4K $13.80/SF
− Vacancy
−$2.9K −$0.94/SF
EGI
$39.5K $12.86/SF
− OpEx
−$11.8K −$3.86/SF
NOI
$27.6K $9.00/SF
Area
Washington County, AR
Vacancy
6.84%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$552,920
Cap Rate 7%
$394,943
Cap Rate 9%
$307,178
Alternative Uses
Best Use
Multifamily LT 5
$394.9K
$345.6K – $460.8K
NOI $27,646 @ 7.0% cap · market cap 4.25%
Second Best
Apartment 5plus
$349.4K
$305.8K – $407.7K
NOI $24,460 @ 7.0% cap · market cap 3.76%
Theoretical Best
Office A
$824.6K
$721.5K – $962.0K
NOI $57,720 @ 7.0% cap · market cap 8.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,901
Businesses Nearby
Explore this area
Business Placement
Demographics for 72701, AR
48,269
Population
20,057
Households
2.4
Avg Household Size
28
Median Age
42%
College-Educated
93%
High-School Grad
126.0 sq mi
ZIP Area
383
Density / Sq Mi
$50,413
Median Household Income
$27,305
Median Earnings
$973
Median Rent
$323,900
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?
Triplex - Currently leased residences with assigned parking and a walkable downtown Fayetteville setting.
Where is this triplex located?
The property is located at 216 E Spring Street Fayetteville, AR.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Three‑unit apartment property totaling 3,072 square feet; 0.1113‑acre lot at 216 E Spring Street, Fayetteville, AR 72701; Built in 1941 with wood siding and asphalt shingle roofing
