Remodeled 8-Unit Apartment
9 Meredith Court, Little Rock, AR 72205
For Sale
$499,000
Multi-Family, Traditional, Little Rock, AR
Property Size4,320 SF
Lot Size0.27 Acres
Price / SF$115.51
Days on Market80
Property Features for 9 Meredith Court
General Information
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Interior features
Appliances
Subdivision
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Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
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Building Details
Year built
Floors in Building
Number of units
Flooring type
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Architectural style
Buildings
Listing Agency:
Marshall Peters & Associates
(501) 414-8340
Listed By:
Chris McCants · License AR SA00086115
(501) 553-6224
Added: Aug 25
Changed: Nov 2
Last Checked: Nov 12 at 7:06AM
MLS# 26034684
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 8-unit apartment building contains 4,320 square feet on a 0.27-acre parcel and was built in 1982. The two currently vacant units have been remodeled, with tile and vinyl flooring, free-standing stoves, gas water heaters, and washer connections. The property also features a composition roof.
Underground water service lines throughout the property were replaced in 2025, and the roof was replaced in 2024. The property is under new management, and the recent renovation work has been completed in the vacant units. Located on Meredith Court in West Little Rock, the asset offers an established multifamily configuration with updated building components and renovated available units.
Underground water service lines throughout the property were replaced in 2025, and the roof was replaced in 2024. The property is under new management, and the recent renovation work has been completed in the vacant units. Located on Meredith Court in West Little Rock, the asset offers an established multifamily configuration with updated building components and renovated available units.
Key Highlights
- 8‑unit apartment building with 4,320 square feet
- Two vacant units have been remodeled and are ready for leasing
- All underground water service lines replaced in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,916
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$698,320
$698.3K
Cap Rate 7%
$498,800
$498.8K
Cap Rate 9%
$387,956
$388.0K
Market Conditions
NOI Build-Up for 4,320 SF
Gross rent
$67.4K $15.60/SF
− Vacancy
−$3.9K −$0.90/SF
EGI
$63.5K $14.70/SF
− OpEx
−$28.6K −$6.61/SF
NOI
$34.9K $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%
$698,320
Cap Rate 7%
$498,800
Cap Rate 9%
$387,956
Alternative Uses
Best Use
Apartment 5plus
$498.8K
$436.5K – $581.9K
NOI $34,916 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$784.8K
$686.7K – $915.6K
NOI $54,934 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
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Business Placement
Demographics for 72205, AR
22,888
Population
12,187
Households
1.9
Avg Household Size
39
Median Age
54%
College-Educated
96%
High-School Grad
8.0 sq mi
ZIP Area
2,861
Density / Sq Mi
$62,888
Median Household Income
$50,948
Median Earnings
$1,110
Median Rent
$204,400
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Little Rock, AR
Properties on Market for Apartment buildings in Little Rock
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with renovated vacant units, gas water heaters, and washer connections.
Where is this apartment building located?
The property is located at 9 Meredith Court Little Rock, AR.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 8‑unit apartment building with 4,320 square feet; Two vacant units have been remodeled and are ready for leasing; All underground water service lines replaced in 2025
