Renovated 15-Unit Apartment
New
For Sale
$899,500
3518 Arapaho Trail, Little Rock, AR 72209
Apartment complex with recently updated units positioned for continued residential occupancy.
Property Size10,090 SF
Price / SF$89.15
Days on Market4
Property Features for 3518 Arapaho Trail
General Information
Standard status
Active
Size
10,090 SF
Property subtype
Multi-family
Additional Details
Asking Price
$899,500
Multifamily Units
15
Listing Agency:
Realty One Group - Pinnacle
(501) 653-7537
Listed By:
Laura Osborne
(501) 944-0527
Source:
Arprorealty
Added: Sep 12
Last Checked: Sep 14 at 11:58AM
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 Realty One Group - Pinnacle
Investment Insights
Based on property information with market context.
This 15-unit apartment building offers a multifamily configuration with recent renovations completed within individual units. The improvements support residential occupancy and provide updated living spaces for incoming tenants.
The property is located at 3518 Arapaho Trail in Little Rock, Arkansas, within the 72209 ZIP code. Its unit count and recent interior work establish a straightforward apartment-building profile for buyers evaluating residential income property.
The property is located at 3518 Arapaho Trail in Little Rock, Arkansas, within the 72209 ZIP code. Its unit count and recent interior work establish a straightforward apartment-building profile for buyers evaluating residential income property.
Key Highlights
- 15‑unit apartment complex
- Individual units recently renovated
- Located at 3518 Arapaho Trail, Little Rock, AR 72209
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$81,551
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.07%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,631,020
$1.6M
Cap Rate 7%
$1,165,014
$1.2M
Cap Rate 9%
$906,122
$906.1K
Market Conditions
NOI Build-Up for 10,090 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$157.4K $15.60/SF
− Vacancy
−$9.1K −$0.90/SF
EGI
$148.3K $14.70/SF
− OpEx
−$66.7K −$6.61/SF
NOI
$81.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,631,020
Cap Rate 7%
$1,165,014
Cap Rate 9%
$906,122
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.02M – $1.36M
NOI $81,551 @ 7.0% cap · market cap 9.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.83M
$1.60M – $2.14M
NOI $128,307 @ 7.0% cap · market cap 14.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 72209, AR
31,641
Population
13,863
Households
2.3
Avg Household Size
32
Median Age
12%
College-Educated
80%
High-School Grad
18.3 sq mi
ZIP Area
1,729
Density / Sq Mi
$40,267
Median Household Income
$32,681
Median Earnings
$982
Median Rent
$99,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment complex with recently updated units positioned for continued residential occupancy.
Where is this apartment building located?
The property is located at 3518 Arapaho Trail Little Rock, AR.
What is the asking price?
The asking price for this property is $899,500.
What are key features of this property?
This property features: 15‑unit apartment complex; Individual units recently renovated; Located at 3518 Arapaho Trail, Little Rock, AR 72209
