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Ridgecrest 1900-2000 Reservoir Rd 232 Unit Apartment Building $17,000,000 ($73,276/Unit) 7.82% Cap Rate Little Rock, AR 72227
INVESTMENT HIGHLIGHTS
- Exceptional turn-key multifamily investment opportunity in West Little Rock
- Affordable apartment types that are in high demand
- Unbeatable location along Reservoir Rd between Cantrell Rd and N Rodney Parham Rd
- All modern new amenities
- Minutes from downtown and all major hospitals
- Dedicated parking lot with over 250 surface spaces
EXECUTIVE SUMMARY
UNDER CONSTRUCTION. ESTIMATED COMPLETION 9-1-25: This 232-unit apartment community in West Little Rock presents a rare opportunity to acquire a turnkey investment in a prime location. Following the 2023 tornado, the property has undergone a $12 million transformation, with every unit completely gutted and rebuilt. All major systems, including HVAC, electrical, plumbing, roofs, windows, and doors, have been replaced, ensuring long-term durability and modern efficiency. Interior upgrades feature high-end finishes, new fixtures, and contemporary flooring, making these apartments both elevated yet affordable for tenants.
Beyond the units, the property is being enhanced with new amenities, including a modernized clubhouse, updated pool with outdoor seating, a gym, business center, pickleball courts, and a dog park. The community will be fully stabilized and leased upon completion, projected for August 1st of this year. With a conservative 48% expense ratio, this investment is designed to offer strong, sustainable returns in a high-demand rental market. In one of Little Rock’s most promising multifamily markets.
Exceptional turnkey multifamily investment opportunity in West Little Rock
This sprawling 232-unit property
All 111 units on the south side will have new doors and windows installed in early January 2024
All 121 units on the south side will be fully remodeled and modernized by June 2024
Unbeatable location along Reservoir Rd between Cantrell Rd and N Rodney Parham Rd – the combined daily traffic sits at 57,500 vehicles
Dedicated parking lot with over 250 surface spaces
Beyond the units, the property is being enhanced with new amenities, including a modernized clubhouse, updated pool with outdoor seating, a gym, business center, pickleball courts, and a dog park. The community will be fully stabilized and leased upon completion, projected for August 1st of this year. With a conservative 48% expense ratio, this investment is designed to offer strong, sustainable returns in a high-demand rental market. In one of Little Rock’s most promising multifamily markets.
Exceptional turnkey multifamily investment opportunity in West Little Rock
This sprawling 232-unit property
All 111 units on the south side will have new doors and windows installed in early January 2024
All 121 units on the south side will be fully remodeled and modernized by June 2024
Unbeatable location along Reservoir Rd between Cantrell Rd and N Rodney Parham Rd – the combined daily traffic sits at 57,500 vehicles
Dedicated parking lot with over 250 surface spaces
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $17,000,000 | Apartment Style | Garden |
| Price Per Unit | $73,276 | Building Class | C |
| Sale Type | Investment | Lot Size | 9.15 AC |
| Cap Rate | 7.82% | Building Size | 139,875 SF |
| Sale Condition | Redevelopment Project | No. Stories | 2 |
| No. Units | 232 | Year Built/Renovated | 1974/2024 |
| Property Type | Multifamily | Parking Ratio | 1.72/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-4 - Multi Family | ||
| Price | $17,000,000 |
| Price Per Unit | $73,276 |
| Sale Type | Investment |
| Cap Rate | 7.82% |
| Sale Condition | Redevelopment Project |
| No. Units | 232 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 9.15 AC |
| Building Size | 139,875 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1974/2024 |
| Parking Ratio | 1.72/1,000 SF |
| Zoning | R-4 - Multi Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Heating
- Security System
- Kitchen
- High Speed Internet Access
- Refrigerator
- Range
- Tub/Shower
- Carpet
- Dining Room
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- Clubhouse
- Fitness Center
- Laundry Facilities
- Pool
- Property Manager on Site
- Tennis Court
- Furnished Units Available
- Grill
- Laundry Service
- Community-Wide WiFi
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 120 | $750.00 | 410 |
| 1+1 | 80 | $850.00 | 545 |
| 2+1 | 32 | $1,050 | 710 |
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | $1,067,984 (2025) | |
| Land Assessment | $405,738 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $662,246 (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$405,738 (2025)
Improvements Assessment
$662,246 (2025)
Total Assessment
$1,067,984 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Ridgecrest | 1900-2000 Reservoir Rd
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