15-Unit Apartment Building with
For Sale
$1,950,000
575 5th Ave, Conway, AR 72032
Multi-Family, Traditional, Conway, AR
Property Size14,508 SF
Lot Size1.68 Acres
Price / SF$134.41
Days on Market51
Property Features for 575 5th Ave
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
Garage
Appliances
Free-Standing Stove, Dishwasher, Free-Standing Stove, Dishwasher
Subdivision
Gosnell
Lot features
Level, Cul-de-sac
Directions
From Oak Street/ US 65 turn left onto 5th avenue , property is on the right
Standard status
Active
Size
14,508 SF
Lot size
1.68 Acres
Taxes and HOA fees
Tax Description
Lot 1A Gosnell Replat
Tax Annual Amount
15234
Legal Description
Lot 1A Gosnell Replat
Amenities
attached garages
Building Details
Year built
1995
Floors in Building
1
Number of units
15
Flooring type
Tile - Stone
Roof type
Shingle
Architectural style
Other
Listing Agency:
Arkansas Real Estate Collective, Conway Branch
(501) 499-2097
Listed By:
Stefanie Schrekenhofer
(501) 428-3120
Added: Sep 3
Changed: Oct 8
Last Checked: Oct 23 at 8:06AM
MLS# 26036093
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 apartment property includes 15 units arranged as three duplexes and three triplexes. The 14,508-square-foot complex sits on 1.68 acres and was built in 1995. Each residence includes two bedrooms, two bathrooms, a living room, a kitchen, and an attached garage. Interior features include tile or stone flooring, free-standing stoves, and dishwashers, while the buildings have shingle roofs.
All units are leased, with many occupants described as long-term tenants. The property is near a community center, shopping, dining, and an interstate, with a park located across the street. The site is in Conway, Arkansas, within Faulkner County.
All units are leased, with many occupants described as long-term tenants. The property is near a community center, shopping, dining, and an interstate, with a park located across the street. The site is in Conway, Arkansas, within Faulkner County.
Key Highlights
- 15 units configured as 3 duplexes and 3 triplexes
- Each unit includes 2 beds, 2 baths, a living room, kitchen, and attached garage
- 14,508 square feet on 1.68 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,215
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,744,300
$1.7M
Cap Rate 7%
$1,245,929
$1.2M
Cap Rate 9%
$969,056
$969.1K
Market Conditions
NOI Build-Up for 14,508 SF
Gross rent
$168.9K $11.64/SF
− Vacancy
−$10.3K −$0.71/SF
EGI
$158.6K $10.93/SF
− OpEx
−$71.4K −$4.92/SF
NOI
$87.2K $6.01/SF
Area
Faulkner County, AR
Vacancy
6.10%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,744,300
Cap Rate 7%
$1,245,929
Cap Rate 9%
$969,056
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.09M – $1.45M
NOI $87,215 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.31M
$2.90M – $3.86M
NOI $231,638 @ 7.0% cap · market cap 11.88%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
15
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
648
Businesses Nearby
Explore this area
Business Placement
Demographics for 72032, AR
34,316
Population
14,255
Households
2.4
Avg Household Size
35
Median Age
27%
College-Educated
94%
High-School Grad
114.5 sq mi
ZIP Area
300
Density / Sq Mi
$61,452
Median Household Income
$36,877
Median Earnings
$976
Median Rent
$183,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - All units offer two-bedroom layouts, two bathrooms, kitchens, living areas, and attached garage access.
Where is this apartment building located?
The property is located at 575 5th Ave Conway, AR.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 15 units configured as 3 duplexes and 3 triplexes; Each unit includes 2 beds, 2 baths, a living room, kitchen, and attached garage; 14,508 square feet on 1.68 acres
