316 E 7th St - Carlisle Apartments 8 Unit Apartment Building Offered at $360,000 at a 8.75% Cap Rate Carlisle, AR 72024

Carlisle Apartments is a fully occupied 8-unit residential complex at 316 E 7th Street in Carlisle, Arkansas, available for the first time in over 30 years. All units are two-bedroom, all-electric with central air conditioning and individual outside storage closets. A dedicated owner storage room is also on the property. The complex sits in close proximity to Carlisle Schools, a consistent draw for family renters and a key driver of the property's exceptional occupancy history.
The property has an outstanding occupancy record — continuously full throughout its ownership, with a current waiting list of prospective tenants. Vacancies have occurred only for brief repair windows, never due to lack of demand.
Rent standardization upside: current rents reflect a mix of long-term locked-in tenants and newer tenants at $500/month. As natural turnover occurs, all units are being moved to $500/month — bringing potential gross annual income to $48,000 with no capital investment required.
Regional market context: current rents of $500/month represent a conservative position relative to comparable 2-bedroom units in the region. Similar units in Hazen, Lonoke, and Ward, Arkansas are currently listing at $775–$850/month. Significant additional upside exists for an owner willing to bring rents toward prevailing market rates over time.
A brand new roof was installed in October 2025, meaning an incoming owner faces no near-term capital expenditure risk. Tenants pay all utilities. The property is offered free and clear with no debt.