416 Campbell St, Hot Springs, AR 71913

6/24/2026 Price improved to an 8% cap rate! Updated financials for the past 12 months, as well as an updated rent roll, are available in the Data Room or by request. No seller financing is available.

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 consistently full 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

Max accomplished rent: $800/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.