319 2Nd StLittle Rock, AR 72201

Property Details for 319 2Nd St

Year built

1928

Lot size

0.19 AC

Property size (Sq ft)

13,110 SF

Property type

Office buildings

APN

34L-020-05-072-00

APU

34L0200507200

Description

This exceptional 7-story, 15,000-square-foot apartment building, located at 319 W 2nd St in Little Rock, Arkansas, presents a compelling investment opportunity. Built in 1928 and extensively renovated in 2024, this Class B property boasts 19 units: eight studios, ten one-bedroom apartments, and a luxurious two-bedroom penthouse. The building offers a prime location in the heart of downtown Little Rock's Financial Quarter, benefiting from high visibility at the intersection of W 2nd and Spring Streets, and a dense daytime workforce of over 42,000. Parking is provided with 18 surface spaces and 2 covered spaces, supplemented by over 1,800 additional spaces nearby. The property sits on a 0.19-acre lot and is offered at $4,750,000, representing a price per unit of $250,000 and a price per square foot of $316.67. Recent renovations totaling $6 million ensure a turn-key operation, ideal for immediate rental income generation. The building's strategic location within a vibrant urban environment with high foot traffic and commercial activity makes it an attractive investment for discerning buyers seeking strong returns in a thriving downtown market. This is a rare opportunity to acquire a fully renovated, multifamily property in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $2,133,705

  6.5%

  $1,969,574

  7%

  $1,828,890

• Comparable approach

  Method

  Valuation

  Relative Method

  $937,758

  Geo Method

  $937,758

• Alternative Use

  Use

  Valuation

  Residential

  $2,442,272

  Hospitality

  $2,237,108

  Educational

  $1,861,247

  Medical

  $1,925,258

  Retail

  $2,895,274

Location Insight

City

Little Rock

County

Pulaski

State

Arkansas

Latitude

34.7473

Longitude

-92.2739

CBSA code

30780

CBSA name

LITTLE ROCK-NORTH LITTLE ROCK, AR METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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