Waterfront Apartment
For Sale
$1,400,000
308 Kleinshore Road, Hot Springs, AR 71913
Lakefront residential property with one- and two-bedroom apartments, optional boat slip rentals, and lake views in many units.
Property Size8,272 SF
Price / SF$169.25
Days on Market81
Property Features for 308 Kleinshore Road
General Information
Standard status
Active
Size
8,272 SF
Property subtype
Multi-family
Units
Unit Mix
8 x 2BR, 1 x 1BR/1BA
Multifamily Units
9
Amenities
boat slip rentals
Listing Agency:
Trademark Real Estate, Inc.
(501) 318-3200
Listed By:
Debi Jones
(501) 276-4446
Source:
Heilesassociatesrealtors
Added: Jul 31
Changed: Oct 5
Last Checked: Oct 16 at 8:47AM
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 Trademark Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This 9-unit apartment property at 308 Kleinshore Rd includes eight two-bedroom apartments and one one-bedroom, one-bath apartment. Several of the two-bedroom units have two full bathrooms. The building contains 8,272 square feet and was constructed in 1980. Large windows bring natural light into the apartments, while many units have views across Lake Hamilton.
Set on the shores of Lake Hamilton in Hot Springs, the property also offers optional boat slip rentals. The unit mix provides a combination of one- and two-bedroom layouts within a waterfront multifamily asset.
Set on the shores of Lake Hamilton in Hot Springs, the property also offers optional boat slip rentals. The unit mix provides a combination of one- and two-bedroom layouts within a waterfront multifamily asset.
Key Highlights
- 9‑unit apartment property with eight 2‑bedroom units and one 1‑bedroom unit
- One 1‑bedroom, 1‑bath apartment included in the unit mix
- Several 2‑bedroom apartments feature two full bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,047
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,020,940
$1.0M
Cap Rate 7%
$729,243
$729.2K
Cap Rate 9%
$567,189
$567.2K
Market Conditions
NOI Build-Up for 8,272 SF
Gross rent
$99.3K $12.00/SF
− Vacancy
−$6.5K −$0.78/SF
EGI
$92.8K $11.22/SF
− OpEx
−$41.8K −$5.05/SF
NOI
$51.0K $6.17/SF
Area
Garland County, AR
Vacancy
6.50%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,020,940
Cap Rate 7%
$729,243
Cap Rate 9%
$567,189
Alternative Uses
Best Use
Apartment 5plus
$729.2K
$638.1K – $850.8K
NOI $51,047 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,895 @ 7.0% cap · market cap 7.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
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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?
Apartment building - Lakefront residential property with one- and two-bedroom apartments, optional boat slip rentals, and lake views in many units.
Where is this apartment building located?
The property is located at 308 Kleinshore Road Hot Springs, AR.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 9‑unit apartment property with eight 2‑bedroom units and one 1‑bedroom unit; One 1‑bedroom, 1‑bath apartment included in the unit mix; Several 2‑bedroom apartments feature two full bathrooms
