Victorian Apartment
For Sale
$950,000
904 S Commerce, Little Rock, AR 72202
Multi-Family, Victorian, Little Rock, AR
Property Size9,261 SF
Lot Size0.32 Acres
Price / SF$102.58
Days on Market148
Property Features for 904 S Commerce
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Subdivision
Original City of Little Rock
Lot features
Level
Directions
From 9th and Main, head East towards I-30. One is on your right. The other on your right as soon as you turn right/south on Commerce
Standard status
Active
Size
9,261 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
Lots 10,11, 12 Blk 59
Tax Annual Amount
3778
Legal Description
Lots 10,11, 12 Blk 59
Building Details
Year built
1910
Number of units
11
Roof type
Composition
Architectural style
Victorian
Listing Agency:
ESQ. Realty Group
(501) 255-0509
Listed By:
Jerry Larkowski
(501) 831-0372
Added: May 15
Changed: Sep 7
Last Checked: Oct 9 at 6:06AM
MLS# 26019851
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.
Investment Insights
Based on property information with market context.
This multifamily offering includes two adjacent houses sold together rather than separately, with a combined property size of 9261 square feet on 0.32 acres. Built in 1910, the buildings feature Victorian architecture, composition roofs, and multiple interior updates. The property is fully rented, providing an existing residential income configuration.
Located at 904 S Commerce with the second property at 415 E 9th, the buildings sit across from The Arkansas Arts Center. East Village, downtown, SOMA, the law school, and the outskirts of The River Market are each within a half-mile walk. Ownership currently covers water, sewer, and trash, while tenants pay electric and internet.
Located at 904 S Commerce with the second property at 415 E 9th, the buildings sit across from The Arkansas Arts Center. East Village, downtown, SOMA, the law school, and the outskirts of The River Market are each within a half-mile walk. Ownership currently covers water, sewer, and trash, while tenants pay electric and internet.
Key Highlights
- Two adjacent houses sold together at 904 S Commerce and 415 E 9th
- Fully rented multifamily property
- 9261 square feet on 0.32 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,851
Cap Rate
7.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,497,020
$1.5M
Cap Rate 7%
$1,069,300
$1.1M
Cap Rate 9%
$831,678
$831.7K
Market Conditions
NOI Build-Up for 9,261 SF
Gross rent
$144.5K $15.60/SF
− Vacancy
−$8.4K −$0.90/SF
EGI
$136.1K $14.70/SF
− OpEx
−$61.2K −$6.61/SF
NOI
$74.9K $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%
$1,497,020
Cap Rate 7%
$1,069,300
Cap Rate 9%
$831,678
Alternative Uses
Best Use
Apartment 5plus
$1.07M
$935.6K – $1.25M
NOI $74,851 @ 7.0% cap · market cap 7.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.68M
$1.47M – $1.96M
NOI $117,765 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,194
Businesses Nearby
Explore this area
Business Placement
Demographics for 72202, AR
10,340
Population
7,403
Households
1.4
Avg Household Size
37
Median Age
49%
College-Educated
93%
High-School Grad
7.1 sq mi
ZIP Area
1,456
Density / Sq Mi
$54,167
Median Household Income
$42,981
Median Earnings
$1,040
Median Rent
$246,900
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Two adjacent houses combine into a fully occupied multifamily property with interior updates and separately addressed parcels.
Where is this apartment building located?
The property is located at 904 S Commerce Little Rock, AR.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Two adjacent houses sold together at 904 S Commerce and 415 E 9th; Fully rented multifamily property; 9261 square feet on 0.32 acres
