9-Unit Lakefront Apartment
For Sale
$1,400,000
308 Kleinshore Road, Hot Springs, AR 71913
Multi-Family, Traditional, Hot Springs, AR
Property Size8,272 SF
Lot Size0.53 Acres
Price / SF$169.25
Days on Market74
Property Features for 308 Kleinshore Road
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
17
Bathrooms
13
Full bathrooms
13
Rooms
Bedroom 12, Bedroom 2, Bedroom 13, Bathroom 1, Bathroom 7, Bathroom 10, Bedroom 11, Bathroom 5, Bedroom 4, Bathroom 11, Bathroom 9, Bathroom 8, Bathroom 3, Bedroom 17, Bathroom 4, Bedroom 5, Bathroom 12, Bedroom 7, Bathroom 2, Bedroom 14, Bathroom 13, Bedroom 1, Bathroom 6, Bedroom 9, Bedroom 8, Bedroom 15, Bedroom 16, Bedroom 6, Bedroom 10, Bedroom 3
Parking features
Assigned
Patio and Porch features
Patio, Deck
Interior features
Washer-Stays, Dryer-Stays, Fan - Ceiling
Exterior features
Partially Fenced, Deck, Patio
Fencing
Partial
Appliances
Free-Standing Stove, Microwave, Dishwasher, Free-Standing Stove, Microwave, Dishwasher
Subdivision
Metes & Bounds
Lot features
Sloped, Level, Resort Property, Cleared, Not in Subdivision, River/ Lake Area, Lake View, Lake Front, Waterfront
Elementary school
Lake Hamilton
Middle school
Lake Hamilton
High school
Lake Hamilton
Directions
Head West on 70 West, Turn Left on Kleinshore Road (Just Past Chesswood Plaza) follow Kleinshore to the end. Apartments are on the Right Before the Gate. 308 Kleinshore Road.
Standard status
Active
Size
8,272 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
PT SW SE & PT SE SE
Tax Annual Amount
5771
Legal Description
PT SW SE & PT SE SE
Utilities
Water front features
Lake
Water front
1
Amenities
boat slip rentals
Building Details
Year built
1980
Floors in Building
2
Number of units
9
Flooring type
Laminate, Tile, Carpet - Partial
Roof type
Composition
Architectural style
Other
Listing Agency:
Trademark Real Estate, Inc.
(501) 318-3200
Listed By:
Debi Jones
(501) 276-4446
Added: Jul 28
Changed: Oct 8
Last Checked: Oct 9 at 8:06AM
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.
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.
Property Analytics
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Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Explore this area
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
Vacancy Rate% for Multifamily in South region
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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
