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