Updated 16-Unit Apartment
515 Brookside Drive, Little Rock, AR 72205
MULTI_FAMILY - Little Rock, AR
Type:Apartment
Property size:
13,468 SFLot size:
0.54 AcresPrice / SF:
$103/SF- Added:
- Dec 11, 2025
- Days on Market:
- 162
- Last Refresh:
- May 22 at 12:06 pm
Property Features for 515 Brookside Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Bedrooms
- 20
- Bathrooms
- 10
- Rooms
- Bedroom 12, Bedroom 19, Bathroom 9, Bedroom 20, Bedroom 3, Bathroom 3, Bedroom 16, Bedroom 10, Bedroom 2, Bathroom 6, Bedroom 13, Bedroom 11, Bathroom 7, Bedroom 15, Bathroom 8, Bathroom 2, Bedroom 18, Bedroom 6, Bedroom 7, Bedroom 1, Bedroom 14, Bathroom 10, Bedroom 4, Bathroom 1, Bathroom 5, Bedroom 5, Bedroom 17, Bedroom 9, Bathroom 4, Bedroom 8
- Interior features
- Hot Water Heater-Electric, Window Treatments
- Exterior features
- Dumpster
- Appliances
- Free-Standing Stove, Electric Range, Dishwasher, Refrigerator-Stays, Free-Standing Stove, Electric Range, Dishwasher, Refrigerator-Stays
- Standard status
- Active
- APN
- 43L1840000200
- Size
- 13,468 SF
- Lot size
- 0.54 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Lots 2 and 3
- Tax Annual Amount
- 16035
Building Details
- Year built
- 1974
- Floors in Building
- 2
- Number of units
- 16
- Flooring type
- Vinyl
- Roof type
- Composition
- Architectural style
- Other
Listing agent Brian Lasley (501) 993-1041
Listing office The Lasley Company 2207 Hidden Valley Dr #106, Little Rock, AR (501) 975-5550
Listing date Dec 11, 2025
MLS# 25048702
Listing URL
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.
HighLights
- Strong current occupancy and reliable existing tenancy provide stable cash flow.
- 16‑unit apartment complex with all units being 2‑bedroom, 1‑bath configurations.
- Updated interiors with newer paint and vinyl plank flooring in every unit.
- Low‑maintenance exterior improvements, including recently painted building and well‑maintained grounds.
- Excellent location in the heart of Midtown/Reservoir, close to UAMS, Park Plaza, and central Little Rock amenities.
- Each unit includes a refrigerator, dishwasher, and electric stove.
Overview
Located in the heart of Midtown near UAMS, Park Plaza, and central Little Rock amenities, this well-maintained 16-unit apartment complex presents an excellent investment opportunity. The property features 16 units, each with 2 bedrooms and 1 bath. All units have been updated with modern finishes and consistent interior upgrades. Interior updates include newer interior paint throughout and vinyl plank flooring in every unit. Each apartment is equipped with a refrigerator, dishwasher, and electric stove. Exterior improvements include a recently painted building and clean, well-maintained grounds. The property, situated on a 0.54-acre lot, offers 13,468 square feet of living space. The property has strong current occupancy and low-maintenance exterior improvements, making it ideal for investors seeking stable cash flow with potential for additional upside.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$1.21M
NOI $108,853 @ 9.00% cap · cautious / downside scenario
Moderate
$1.56M
NOI $108,853 @ 7.00% cap · market / base-case scenario
Aggressive
$2.18M
NOI $108,853 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $210.1k | $15.60 |
| − Vacancy | −$12.2k | −$0.90 |
| EGI | $197.9k | $14.70 |
| − OpEx | −$89.1k | −$6.61 |
| NOI | $108.9k | $8.08 |
13,468 SF · lease $15.60/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$1.56M
$1.36M – $1.81M
NOI $108,853 @ 7.0% cap · market cap 7.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.45M
$2.14M – $2.85M
NOI $171,263 @ 7.0% cap · market cap 12.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Little Rock
- County
- Pulaski
- State
- Arkansas
- Longitude
- -92.372725
- Latitude
- 34.757717
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained Little Rock apartment complex with modern updates and strong occupancy.
Where is this apartment building located?
The property is located at 515 Brookside Drive Little Rock, AR.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: Strong current occupancy and reliable existing tenancy provide stable cash flow.; 16‑unit apartment complex with all units being 2‑bedroom, 1‑bath configurations.; Updated interiors with newer paint and vinyl plank flooring in every unit.
