2025 Van Buren, Eureka Springs, AR 72632
Local realty services provided by:CENTURY 21 First Choice Realty
Listed by: joshua harmon
Office: harmon real estate company
MLS#:1088575
Source:AR_FSBOR
Price summary
- Price:$3,095,000
- Price per sq. ft.:$108.02
About this home
The Ravine Apartments represents a rare multifamily opportunity in the heart of Eureka Springs, Arkansas — a fully converted, capital-improved residential portfolio comprising 53 units across four buildings at 2025A, 2025B, 2025C, and 2027 East Van Buren Street. Originally operating as a motel, the property has undergone a complete conversion to long-
term residential use under the current ownership, with all buildings receiving new roofs, full electrical upgrades, plumbing, and individual PTAC HVAC units. The portfolio delivers a diverse unit mix of studios, one-bedrooms, and two-
bedrooms, each equipped with full kitchens including a stove and refrigerator — a meaningful upgrade relative to kitchenette-only product in
the submarket. Individual electric meters per unit limit owner utility exposure to water, sewer, trash, and internet service. An on-site laundry facility serves Building 2025C. Building 2025A, a nine-unit two-bedroom addition, is currently under construction with an estimated completion
date of June 1, 2026, providing an immediate lease-up opportunity and value creation event for an incoming buyer. At current operations, the property generates $27,550 per month in gross
rental income across 37 occupied units, with 8 existing vacancies presenting near-term upside. Upon full stabilization of all 53 units at HREC's
independently researched market rates, the property is projected to generate over $491,000 in annualized gross potential rent....
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Home facts
- Listing ID #:1088575
- Added:43 day(s) ago
- Updated:June 12, 2026 at 02:24 PM
Rooms and interior
- Flooring:Concrete
- Living area:28,652 sq. ft.
Heating and cooling
- Cooling:Electric
Structure and exterior
- Building area:28,652 sq. ft.
- Lot area:1.57 Acres
- Lot Features:City Lot, Subdivision
- Construction Materials:Block, Concrete
- Levels:3 or More Stories
Finances and disclosures
- Price:$3,095,000
- Price per sq. ft.:$108.02
- Tax amount:$11,678
Features and amenities
- Appliances:Electric Water Heater
- Amenities:Security System, Smoke Detectors
Parking
- Parking description:Detached Carport, Parking Lot
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