9-Unit Lakefront Apartment
308 Kleinshore Road, Hot Springs, AR 71913
For Sale
$1,400,000
Multi-Family, Traditional, Hot Springs, AR
Property Size8,272 SF
Lot Size0.53 Acres
Price / SF$169.25
Days on Market106
Property Features for 308 Kleinshore Road
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Patio and Porch features
Interior features
Exterior features
Fencing
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Water front features
Water front
Building Details
Year built
Floors in Building
Number of units
Flooring type
Roof type
Architectural style
Listing Agency:
Trademark Real Estate, Inc.
(501) 318-3200
Listed By:
Debi Jones
(501) 276-4446
Added: Jul 28
Changed: Nov 2
Last Checked: Nov 10 at 11:06AM
MLS# 26030899
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 9-unit apartment property in Hot Springs, Arkansas, occupies 0.53 acres along Lake Hamilton. The 8,272-square-foot building includes eight 2-bedroom apartments and one 1-bedroom, 1-bath apartment; several of the 2-bedroom units have two full bathrooms. Many apartments offer lake views through large windows, while select resident amenities include optional boat slip rentals, assigned parking, patios, and decks.
Built in 1980, the property includes appliances such as stoves, microwaves, and dishwashers, along with washer and dryer units. Interior finishes include tile, partial carpet, and laminate flooring. The site also features partial fencing, ceiling fans, and a composition roof.
Built in 1980, the property includes appliances such as stoves, microwaves, and dishwashers, along with washer and dryer units. Interior finishes include tile, partial carpet, and laminate flooring. The site also features partial fencing, ceiling fans, and a composition roof.
Key Highlights
- 9‑unit apartment property on 0.53 acres along Lake Hamilton
- 8,272‑square‑foot building with eight 2‑bedroom apartments and one 1‑bedroom, 1‑bath apartment
- Several 2‑bedroom units include 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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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
$179,200
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Hot Springs, AR
Properties on Market for Apartment buildings in Hot Springs
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Lakefront multifamily property with optional boat slip rentals and assigned parking.
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 on 0.53 acres along Lake Hamilton; 8,272‑square‑foot building with eight 2‑bedroom apartments and one 1‑bedroom, 1‑bath apartment; Several 2‑bedroom units include two full bathrooms
