15-Unit Apartment
For Sale
$899,500
3518 Arapaho Trail, Little Rock, AR 72209
Multi-Family, Little Rock, AR
Property Size10,090 SF
Lot Size0.58 Acres
Price / SF$89.15
Days on Market98
Property Features for 3518 Arapaho Trail
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Interior features
Washer Connection, Dryer Connection-Gas, Dryer Connection-Electric, Hot Water Heater-Gas, Hot Water Heater-Electric, Smoke Detector, Fan - Ceiling, Window Treatments
Exterior features
Fully Fenced, Dumpster, Wood Fence, Video Surveillance
Fencing
Wood, Full
Appliances
Dishwasher, Disposal, Electric Range, Exhaust Fan, Free-Standing Stove, Gas Range, Refrigerator-Stays, Dishwasher, Disposal, Electric Range, Exhaust Fan, Free-Standing Stove, Gas Range, Refrigerator-Stays
Subdivision
Pine Wood
Lot features
Level
Directions
From Hillaro Springs , Turn left onto Arapaho. Property on left.
Standard status
Active
Size
10,090 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Description
lot 3
Tax Annual Amount
11791
Legal Description
lot 3
Building Details
Year built
1983
Floors in Building
2
Number of units
15
Flooring type
Tile, Laminate
Listing Agency:
Realty One Group - Pinnacle
(501) 653-7537
Listed By:
Laura Osborne
(501) 944-0527
Added: Jul 30
Changed: Nov 2
Last Checked: Nov 4 at 9:06AM
MLS# 26031012
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.
Built in 1983, this 15-unit apartment property contains 10,090 square feet on 0.58 acres. Individual units have recently undergone renovations, with laminate and tile flooring, ceiling fans, window treatments, smoke detectors, and gas or electric water-heating equipment. Laundry connections are provided, including gas and electric dryer connections. Kitchens include ranges, dishwashers, disposals, refrigerators, and exhaust fans.
The property is located at 3518 Arapaho Trail in Little Rock, Arkansas, within Pulaski County. Exterior features include a fully fenced site, wood fencing, a dumpster, and video surveillance. The asset’s unit count, recent interior updates, and combination of interior and exterior operating features provide a defined multifamily configuration.
The property is located at 3518 Arapaho Trail in Little Rock, Arkansas, within Pulaski County. Exterior features include a fully fenced site, wood fencing, a dumpster, and video surveillance. The asset’s unit count, recent interior updates, and combination of interior and exterior operating features provide a defined multifamily configuration.
Key Highlights
- 15‑unit apartment property
- 10,090 square feet on 0.58 acres
- Individual units recently renovated
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,551
Cap Rate
9.07%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Recently renovated units with fenced grounds and in-unit laundry connections support ongoing multifamily operations.
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 property; 10,090 square feet on 0.58 acres; Individual units recently renovated
