19-Unit Apartment
For Sale
$2,100,000
Conway, AR 72034, Conway, AR 72034
Multi-Family, Traditional, Conway, AR
Property Size17,617 SF
Lot Size2.00 Acres
Price / SF$119.20
Days on Market543
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Lot features
Level
Subdivision
Tyler
Standard status
Active
Size
17,617 SF
Lot size
2.00 Acres
Building Details
Year built
1999
Floors in Building
1
Number of units
19
Roof type
Shingle
Architectural style
Other
Listing Agency:
Moses Tucker Partners
(501) 376-6555
Listed By:
Clint Bailey · License #SA00073895
(501) 358-8280
Added: Apr 22, 2025
Changed: Oct 8
Last Checked: Oct 16 at 2:06PM
MLS# 25015582
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 19-unit apartment property contains 17,617 square feet on 2 acres and was built in 1999. Seventeen units have wood-look tile flooring and updated paint. Common corridors were renovated with new doors, flooring, paint, and lighting, while exterior work included updated columns, painted unit doors, and LED lighting at the front entrances.
A new shingle roof was installed in 2021. Water shutoffs were upgraded with ball valves, and the landscaping was replaced with rock. The complex is fully occupied and is located near Hendrix College, The Village at Hendrix, and downtown Conway.
A new shingle roof was installed in 2021. Water shutoffs were upgraded with ball valves, and the landscaping was replaced with rock. The complex is fully occupied and is located near Hendrix College, The Village at Hendrix, and downtown Conway.
Key Highlights
- 19 apartments across 17,617 square feet on 2 acres
- Built in 1999; shingle roof installed in 2021
- 17 units feature wood‑look tile flooring and updated interior paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$105,904
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,118,080
$2.1M
Cap Rate 7%
$1,512,914
$1.5M
Cap Rate 9%
$1,176,711
$1.2M
Market Conditions
NOI Build-Up for 17,617 SF
Gross rent
$205.1K $11.64/SF
− Vacancy
−$12.5K −$0.71/SF
EGI
$192.6K $10.93/SF
− OpEx
−$86.6K −$4.92/SF
NOI
$105.9K $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%
$2,118,080
Cap Rate 7%
$1,512,914
Cap Rate 9%
$1,176,711
Alternative Uses
Best Use
Apartment 5plus
$1.51M
$1.32M – $1.77M
NOI $105,904 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.02M
$3.52M – $4.69M
NOI $281,277 @ 7.0% cap · market cap 13.39%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
19
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
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Business Placement
Demographics for 72034, AR
47,873
Population
22,523
Households
2.1
Avg Household Size
33
Median Age
44%
College-Educated
94%
High-School Grad
47.9 sq mi
ZIP Area
999
Density / Sq Mi
$61,675
Median Household Income
$40,511
Median Earnings
$993
Median Rent
$250,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Most apartments feature refreshed interiors, supported by extensive common-area and exterior updates.
Where is this apartment building located?
The property is located at Conway, AR.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: 19 apartments across 17,617 square feet on 2 acres; Built in 1999; shingle roof installed in 2021; 17 units feature wood‑look tile flooring and updated interior paint
