Downtown Multifamily
418 E 15th St Little Rock, AR 72202
418 E 15th St, Little Rock, AR, 72202
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For Sale
Contact for pricing
Twenty-two-unit portfolio features two recently renovated buildings under a master NNN lease generating $20,000 monthly.
Property Size3,768 SF
Price / SF$225.58
Days on Market84
Property Features for 418 E 15th St
General Information
- Standard status
- Active
- Size
- 3,768 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1956
Listing agency
Exp Commercial - Little Rock
(501) 666-7368
Listed by
Danny Brickey · License #PB00075279
Source
Crexi
Added: May 1 Updated: Jul 22 at 12:29PM Checked: Jul 22 at 12:29PM
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 Exp Commercial - Little Rock
Investment Insights
Based on property information with market context.
This for-sale portfolio includes two multifamily buildings containing 22 total units. The properties are located at 315 E 6th Street and 418 E 15th Street and were renovated in 2022. The offering is available as a combined portfolio or individually.
The portfolio is secured by a master NNN lease currently generating $20,000 per month ($240,000 annually). Under the lease structure, the master tenant is responsible for utilities, maintenance, and operating expenses, supporting a true net-income approach with reduced landlord responsibilities.
Positioned in the Downtown Little Rock (72202) submarket, the buildings benefit from being in the heart of downtown, with stated proximity to major employment centers, medical institutions, entertainment districts, and ongoing redevelopment activity.
The portfolio is secured by a master NNN lease currently generating $20,000 per month ($240,000 annually). Under the lease structure, the master tenant is responsible for utilities, maintenance, and operating expenses, supporting a true net-income approach with reduced landlord responsibilities.
Positioned in the Downtown Little Rock (72202) submarket, the buildings benefit from being in the heart of downtown, with stated proximity to major employment centers, medical institutions, entertainment districts, and ongoing redevelopment activity.
Key Highlights
- 22‑unit downtown Little Rock multifamily portfolio across two buildings: 315 E 6th St (16 units) and 418 E 15th St (6 units)
- Master NNN lease in place, generating $20,000/month ($240,000 annually)
- Master tenant pays all utilities, maintenance, and operating expenses for a true net‑income structure
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.8k | $15.60 |
| − Vacancy | −$3.4k | −$0.90 |
| EGI | $55.4k | $14.70 |
| − OpEx | −$24.9k | −$6.61 |
| NOI | $30.5k | $8.08 |
3,768 SF · lease $15.60/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$435.1K
$380.7K – $507.6K
NOI $30,454 @ 7.0% cap · market cap 3.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$684.5K
$598.9K – $798.6K
NOI $47,915 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Twenty-two-unit portfolio features two recently renovated buildings under a master NNN lease generating $20,000 monthly.
Where is this apartment building located?
The property is located at 418 E 15th St Little Rock, AR.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 22‑unit downtown Little Rock multifamily portfolio across two buildings: 315 E 6th St (16 units) and 418 E 15th St (6 units); Master NNN lease in place, generating $20,000/month ($240,000 annually); Master tenant pays all utilities, maintenance, and operating expenses for a true net‑income structure
