Sherwood Park Apartments
Sherwood Park Apartments is a 242-unit Class C multifamily community in North Little Rock, Arkansas, offered at $15,000,000 at an 8.13% cap ($1,220,000 NOI). The stabilized asset delivers strong in-place cash flow with minimal deferred maintenance following over $3 million in comprehensive capital improvements completed in 2025. Current rents remain below market, positioning the property for near-term NOI growth through lease optimization and continued unit renovations while maintaining its role as attainable workforce housing.
Built in 1976 and situated across 31 buildings on 11.13 acres, the two-story community comprises 185,696 rentable square feet zoned R4. The North Little Rock submarket benefits from limited new apartment supply and positive net absorption, supported by a diverse employment base in government, healthcare, logistics, and manufacturing. The Little Rock–North Little Rock–Conway MSA, home to approximately 760,000 residents, anchors Central Arkansas's economy. The property currently operates at 93% occupancy, providing a cushion for upside capture as market rents continue to rise and unit renovations drive lease rate increases.
- 242 units across 31 buildings on 11.13 acres
- Stabilized asset with $1,220,000 annual NOI at 8.13% cap
- Over $3 million in recent capital improvements; minimal deferred maintenance
- Rents below market; identifiable NOI growth through lease optimization
- Limited new supply and positive absorption in North Little Rock submarket
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Sherwood Park Apartments is a 242-unit multifamily community in North Little Rock, Arkansas, offering investors a stabilized, income-producing asset with strong in-place cash flow and minimal deferred maintenance following more than $3 million in comprehensive capital improvements. Current rents remain below supported market levels, creating an opportunity to increase annual gross revenue through continued lease optimization and unit renovations while preserving the property’s role as attainable workforce housing. Situated in the North Little Rock submarket, the property benefits from limited new apartment supply, positive net absorption, and a diverse employment base that supports consistent workforce housing demand. The Little Rock–North Little Rock–Conway MSA, home to approximately 760,000 residents, serves as Central Arkansas’s economic center and is supported by major government, healthcare, logistics, and manufacturing industries. Sherwood Park Apartments combines stable current income with identifiable near-term NOI growth potential in a well-established and economically diverse market.
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