1049 Wilburn Rd 34 Unit Apartment Building $2,950,000 ($86,765/Unit) 4.81% Cap Rate Heber Springs, AR 72543

100% Occupied 34-Unit Apartment Complex in Heber Springs, AR – Renovated, Cash-Flowing, and Ready to Scale
Unlock a rare opportunity to own a high-performing multifamily asset in the heart of Heber Springs, Arkansas — a scenic lake town known for its outdoor lifestyle, strong rental demand, and small-town charm. This 34-unit apartment complex is 100% occupied and has undergone extensive upgrades, making it a turnkey investment with built-in upside.
Property Highlights:
34 total units, with most units thoughtfully renovated — remaining units offer value-add potential.
Income generating private on-site laundry facility managed and maintained by a service provider – a premium amenity for tenant convenience with zero hassle!
Landlord-paid water service (for now)– attractive to renters and easy to manage.
Roof replaced approximately 5 years ago – solid structural integrity with reduced future capital needs.
Freshly resealed parking lots – clean, professional curb appeal.
Most HVAC systems and water heaters replaced – boosting energy efficiency and lowering maintenance costs.
Most renovations and maintenance items are complete, making this property easy to manage and hassle-free moving forward.
Upside Potential:
SIGNIFICANT room to increase rents – current rates are well below market, offering immediate revenue growth. (Rent increases are currently happening across the board)
The few remaining unrenovated units provide a clear path to value-add improvements and rent optimization.
Location Benefits:
Just minutes from Greers Ferry Lake, tenants enjoy easy access to boating, fishing, hiking, and the charm of downtown Heber Springs. The area’s blend of natural beauty and laid-back lifestyle makes this property a magnet for long-term renters.
Investor Appeal:
With full occupancy, major capital improvements completed, and room for further value-add, this property is ideal for investors seeking immediate income and long-term growth. Whether you're expanding your portfolio or entering the multifamily space, this asset delivers on location, condition, and performance.
Active Management:
Managed by a dedicated part-time, 20-30 hour a week caretaker — overseeing tenant relations, lease signings, upkeep, and day-to-day operations.
Streamlined Property Management:
Operations are supported by DoorLoop, a robust property management software that enables effortless tracking of:
Rent payments and late fees
Maintenance requests and upgrades
Lease agreements and tenant communications
Financial reporting and performance metrics
This tech-enabled setup ensures transparency, efficiency, and scalability — ideal for both local and remote investors.
Please view the documents for current 2025 P&L details. We expect rents to increase $100/month as new leases come due, and the majority of repairs and issues have been resolved, making the expense rate drop significantly in 2026. Based on our current estimate, we anticipate 2026 to experience upwards of a 8%-9% ROI.
If the attachments included herein do not answer your questions, then please call or email with specific questions and requests.