10-Unit Colonial Apartment
3409 W Markham Street, Little Rock, AR 72205
For Sale
$995,000
Multi-Family, Colonial, Little Rock, AR
Property Size10,942 SF
Lot Size0.30 Acres
Price / SF$90.93
Days on Market223
Property Features for 3409 W Markham Street
General Information
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Listing Agency:
Exp Realty
(866) 720-5056
Listed By:
Emilia D'Auteuil
(501) 627-4625
Added: Apr 7
Changed: Nov 2
Last Checked: Nov 15 at 3:06PM
MLS# 26013777
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 10-unit Colonial apartment building contains 10,942 square feet on a 0.3-acre lot. The unit mix includes 2 one-bedroom apartments and 8 two-bedroom, 1-bath apartments. Built in 1928, the property includes wood flooring, electric water heating, ceiling fans, electric ranges, refrigerators, and electric dryer connections.
Recent work includes fresh interior paint and full replacement of the rear deck. Tenants are responsible for utilities, providing a defined operating arrangement for ownership. The building also features a composition roof and freestanding stove and refrigerator equipment in the apartments.
Recent work includes fresh interior paint and full replacement of the rear deck. Tenants are responsible for utilities, providing a defined operating arrangement for ownership. The building also features a composition roof and freestanding stove and refrigerator equipment in the apartments.
Key Highlights
- 10,942 square feet on a 0.3‑acre lot
- 10‑unit layout with 2 one‑bedroom and 8 two‑bedroom, 1‑bath apartments
- Recent fresh paint and full replacement of the rear deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,437
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,768,740
$1.8M
Cap Rate 7%
$1,263,386
$1.3M
Cap Rate 9%
$982,633
$982.6K
Market Conditions
NOI Build-Up for 10,942 SF
Gross rent
$170.7K $15.60/SF
− Vacancy
−$9.9K −$0.90/SF
EGI
$160.8K $14.70/SF
− OpEx
−$72.4K −$6.61/SF
NOI
$88.4K $8.08/SF
Area
Little Rock, AR
Vacancy
5.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,768,740
Cap Rate 7%
$1,263,386
Cap Rate 9%
$982,633
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.11M – $1.47M
NOI $88,437 @ 7.0% cap · market cap 8.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,141 @ 7.0% cap · market cap 13.98%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
2,127
Businesses Nearby
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Business Placement
Demographics for 72205, AR
22,888
Population
12,187
Households
1.9
Avg Household Size
39
Median Age
54%
College-Educated
96%
High-School Grad
8.0 sq mi
ZIP Area
2,861
Density / Sq Mi
$62,888
Median Household Income
$50,948
Median Earnings
$1,110
Median Rent
$204,400
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Little Rock, AR
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Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated multifamily property with a mix of one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 3409 W Markham Street Little Rock, AR.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: 10,942 square feet on a 0.3‑acre lot; 10‑unit layout with 2 one‑bedroom and 8 two‑bedroom, 1‑bath apartments; Recent fresh paint and full replacement of the rear deck
