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Alexander Heights Apartments 701 E 4th St 8 Unit Apartment Building $498,686 CAD ($62,336 CAD/Unit) 8.66% Cap Rate Carlisle, AR 72024
Investment Highlights
- Current rents are conservatively priced below regional market rates, giving an investor a clear, low-risk path to substantially increased returns
- Proven stability with decades of proven renter demand in a community with few similar housing alternatives
- Minimal Overhead: roof was replaced within the past 18 months, carries zero debt, and all tenants pay their own utilities
Executive Summary
Alexander Heights — 8-Unit Apartment Complex
701 E 4th St, Carlisle, AR 72024
Alexander Heights is a fully occupied 8-unit residential apartment complex in Carlisle, Arkansas offered for sale for the first time in decades. All eight units are two-bedroom, all-electric with central air conditioning and individual outside storage closets. A separate owner storage room is included on the property. The complex is located within close proximity to Carlisle Schools, making it a perennially attractive option for families.
The property has maintained near continuous occupancy throughout its ownership history, with the only vacancies being brief gaps reserved for unit repairs. A waiting list of prospective tenants is currently in place, reflecting strong and durable local rental 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 December 2024, eliminating the single largest capital expense risk for an incoming owner. The building has been well cared for, and all major repairs are up to date.
Tenants pay all utilities. The property is offered free and clear of any debt or encumbrances.
100% occupied
New roof Dec 2024
Tenant waiting list
Near Carlisle Schools
All 2BR units
No debt
Current gross income: $43,500 annually
Stabilized at $500/mo: $48,000 annually
Regional market rate: $775–$850 per month
Property details
Unit mix: 8 × 2-bedroom | Utilities: tenant-paid, all electric | HVAC: central air | Storage: individual outside closets + owner storage room | Roof: new December 2024 | Debt: none | Location: near Carlisle Schools
701 E 4th St, Carlisle, AR 72024
Alexander Heights is a fully occupied 8-unit residential apartment complex in Carlisle, Arkansas offered for sale for the first time in decades. All eight units are two-bedroom, all-electric with central air conditioning and individual outside storage closets. A separate owner storage room is included on the property. The complex is located within close proximity to Carlisle Schools, making it a perennially attractive option for families.
The property has maintained near continuous occupancy throughout its ownership history, with the only vacancies being brief gaps reserved for unit repairs. A waiting list of prospective tenants is currently in place, reflecting strong and durable local rental 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 December 2024, eliminating the single largest capital expense risk for an incoming owner. The building has been well cared for, and all major repairs are up to date.
Tenants pay all utilities. The property is offered free and clear of any debt or encumbrances.
100% occupied
New roof Dec 2024
Tenant waiting list
Near Carlisle Schools
All 2BR units
No debt
Current gross income: $43,500 annually
Stabilized at $500/mo: $48,000 annually
Regional market rate: $775–$850 per month
Property details
Unit mix: 8 × 2-bedroom | Utilities: tenant-paid, all electric | HVAC: central air | Storage: individual outside closets + owner storage room | Roof: new December 2024 | Debt: none | Location: near Carlisle Schools
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $498,686 CAD | Apartment Style | Garden |
| Price Per Unit | $62,336 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.51 AC |
| Cap Rate | 8.66% | Building Size | 7,194 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1980 |
| Price | $498,686 CAD |
| Price Per Unit | $62,336 CAD |
| Sale Type | Investment |
| Cap Rate | 8.66% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 7,194 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1980 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
- Satellite TV
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | $588.73 CAD | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
90/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 730-10207-000 | Improvements Assessment | $60,923 CAD |
| Land Assessment | $5,818 CAD | Total Assessment | $66,741 CAD |
Property Taxes
Parcel Number
730-10207-000
Land Assessment
$5,818 CAD
Improvements Assessment
$60,923 CAD
Total Assessment
$66,741 CAD
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Freeman Electric Company
Alexander Heights Apartments | 701 E 4th St
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