Upper-Level Residential Income
For Sale
$315,000
640 Arkridge Road Unit C-2, Hot Springs, AR 71913
Move-in-ready condominium with lake views, private balcony, and flexible residential use subject to a three-month minimum lease.
Property Size1,766 SF
Days on Market10
Property Features for 640 Arkridge Road Unit C-2
General Information
Standard status
Active
Size
1,766 SF
Property subtype
Condo/Townhse/Duplex/Apt
Additional Details
Multifamily Units
1
Building Details
Building Size
1,766 SF
Year Built
2006
Listing Agency:
Crye-Leike REALTORS
(501) 276-4510
Listed By:
Nedra Plumlee · License #EB00042722
(501) 276-4510
Source:
Whitestonearkansas
Added: Jul 27
Changed: Jul 31
Last Checked: Aug 5 at 4:53AM
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 Crye-Leike REALTORS
Investment Insights
Based on property information with market context.
This well-maintained, upper-level condominium was built in 2006 and offers two bedrooms and two full bathrooms. The open-concept kitchen connects with the living and dining areas, while the primary suite includes sliding glass doors opening to a private balcony with lake views. The guest bedroom is positioned near the second full bathroom, providing separation for residents or visitors.
Located at 640 Arkridge Road in Hot Springs, the property is directly across from Garvan Gardens and just steps from Lake Hamilton. Short-term rentals are not permitted, and leases must have a minimum term of three months.
Located at 640 Arkridge Road in Hot Springs, the property is directly across from Garvan Gardens and just steps from Lake Hamilton. Short-term rentals are not permitted, and leases must have a minimum term of three months.
Key Highlights
- Upper‑level condominium built in 2006
- Two bedrooms and two full bathrooms
- Private balcony with lake views
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 | $21.2k | $12.00 |
| − Vacancy | −$1.4k | −$0.78 |
| EGI | $19.8k | $11.22 |
| − OpEx | −$8.9k | −$5.05 |
| NOI | $10.9k | $6.17 |
1,766 SF · lease $12.00/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$155.7K
$136.2K – $181.6K
NOI $10,898 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$323.0K
$282.6K – $376.8K
NOI $22,608 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 71913, AR
46,801
Population
25,441
Households
1.8
Avg Household Size
44
Median Age
28%
College-Educated
91%
High-School Grad
134.2 sq mi
ZIP Area
349
Density / Sq Mi
$55,367
Median Household Income
$32,746
Median Earnings
$970
Median Rent
$179,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Move-in-ready condominium with lake views, private balcony, and flexible residential use subject to a three-month minimum lease.
Where is this residential income property located?
The property is located at 640 Arkridge Road Unit C-2 Hot Springs, AR.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Upper‑level condominium built in 2006; Two bedrooms and two full bathrooms; Private balcony with lake views
