900 3Rd St Little Rock, AR 72201

Property Details for 900 3Rd St

Year built

1926

Lot size

0.32 lot acres

Property size

10,344 SF

Property type

Commercial real estate

Description

This exceptional 15-unit apartment building, located at 900 W 3rd Street in Little Rock, Arkansas, presents a compelling investment opportunity. The property boasts 10,344 square feet on a premium 0.32-acre corner lot at the intersection of W 3rd Street and S Izard Street, placing it in the heart of the Central Business District. Built in 1926, this two-story building features a mix of 14 one-bedroom/one-bathroom units and one two-bedroom/one-bathroom unit, offering immediate potential for renovation and leasing. The property includes a dedicated parking lot with 20 surface spaces, providing ample parking for residents (1.52 spaces per unit). Its prime location offers convenient proximity to downtown restaurants, shops, and major employers, including being less than a half-mile walk from the Arkansas State Capitol. The property is zoned UU and potentially qualifies for Historic Tax Credits, presenting further investment advantages. The asking price is $999,000, or $66,600 per unit, with a price per square foot of $96.58. This represents a strong value proposition in a thriving urban core. This is a rare opportunity to acquire a well-situated multifamily property with significant upside potential.