Hot Springs, AR - Multifamily 12-Plex 416 Campbell St 12 Unit Apartment Building $1,100,000 ($91,667/Unit) 6.30% Cap Rate Hot Springs, AR 71913

Rare opportunity to acquire a stabilized 12-unit apartment community in one of Arkansas’ most desirable and supply-constrained rental and short-term rental markets. This two-story property consists of six units on the upper level and six units on the lower level, with convenient paved off-street parking for tenants.
All units are spacious 2 bed / 1 bath layouts averaging approximately 805 square feet, offering an attractive and highly rentable unit mix for the local workforce and long-term tenant base. Current ownership has maintained consistent occupancy while keeping rents below market, providing immediate upside for an investor seeking yield and appreciation through strategic rent increases and light interior renovations.
Investment Highlights
12 total units – all 2BR/1BA
Avg unit size: ~805 SF
Current average rent: $775/month
Market rent potential: ~$850/month+
Immediate value-add through rent normalization and interior updates
Paved off-street parking
Simple operational structure
Owner expenses limited to trash and minimal common-area electric (parking lot light)
With modest interior improvements and continued professional management, investors can capture strong organic rent growth while maintaining high occupancy in a proven rental location.
Location Overview – Hot Springs, Arkansas
Hot Springs is one of Arkansas’ most unique and economically resilient cities, driven by tourism, healthcare, and steady in-migration from higher-cost states. Known for its historic downtown, natural springs, lakes, and national park status (Hot Springs National Park), the city draws millions of visitors annually and maintains a strong year-round rental market.
The property benefits from proximity to major employment, retail, and transportation corridors, while remaining within:
~55 minutes to Little Rock (state capital and largest employment hub)
~1 hour to Bill & Hillary Clinton National Airport
Easy access to regional healthcare systems and service employers
Little Rock’s continued growth and Hot Springs’ affordability advantage have made the area increasingly attractive for renters priced out of larger metros.
Strong Rental & STR Market
Hot Springs has become one of the strongest short-term rental (STR) markets in Arkansas, driven by tourism, lake recreation, and national park traffic. While this property is currently operated as long-term housing, the surrounding demand dynamics continue to support:
Strong occupancy levels
Consistent rent growth
Long-term appreciation potential
Investors benefit from a market where both long-term and short-term rental demand remain healthy, supporting long-term asset value.
Value-Add Opportunity
The property presents a clear and achievable value-add strategy:
Bring below-market rents to current market levels
Renovate interiors as units turn to push rents further
Maintain low operating expenses
Capture strong cash-on-cash return growth
At current rents, the property offers stable income. With rent adjustments toward market levels, investors can significantly improve NOI and overall asset value.
**No creative financing offers will be considered. Seller will be participating in a 1031 exchange at no cost to the buyer.
*** Seller is offering 2% of sales price to a buyer's agent.