Remodeled 8-Unit Apartment
For Sale
$499,000
9 Meredith Court, Little Rock, AR 72227
Renovated vacant units pair with replaced underground water lines and a 2024 roof.
Property Size4,320 SF
Price / SF$115.51
Days on Market53
Property Features for 9 Meredith Court
General Information
Standard status
Active
Size
4,320 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
8
Building Details
Buildings
1
Listing Agency:
Marshall Peters & Associates
(501) 414-8340
Listed By:
Chris McCants · License #SA00086115
(501) 553-6224
Source:
Arprorealty
Added: Sep 13
Changed: Oct 25
Last Checked: Nov 3 at 6:22AM
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 Marshall Peters & Associates
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8-unit apartment building at 9 Meredith Court contains 4,320 square feet of residential space. The two currently vacant units have been remodeled, and all vacant units have received renovation work. The property is under new management, with the vacancies attributed to completed renovations.
Recent capital improvements include replacement of all underground water service lines in 2025 and a new roof completed in 2024. The property is located in West Little Rock, providing an established residential setting for the apartment asset.
Recent capital improvements include replacement of all underground water service lines in 2025 and a new roof completed in 2024. The property is located in West Little Rock, providing an established residential setting for the apartment asset.
Key Highlights
- 8‑unit apartment building with 4,320 square feet
- Two vacant units have been remodeled
- All vacant units have received renovation work
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
393
Businesses Nearby
Explore this area
Business Placement
Demographics for 72227, AR
11,090
Population
5,700
Households
1.9
Avg Household Size
41
Median Age
55%
College-Educated
98%
High-School Grad
3.8 sq mi
ZIP Area
2,918
Density / Sq Mi
$73,533
Median Household Income
$52,565
Median Earnings
$1,035
Median Rent
$260,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated vacant units pair with replaced underground water lines and a 2024 roof.
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; All vacant units have received renovation work
