1320 S Albert Pike Ave Fort Smith, AR 72903

This grand colonial mansion, built in 1950, offers 7,000 square feet of space and includes 9 bedrooms and 9 bathrooms. Previously a successful bed and breakfast until 2021, the property currently operates with individual private suites available for rent. Six suites are currently rented, with one more coming soon, one for a caretaker, and one needing minor updates. One downstairs unit is rented, and two of the three unfinished units are downstairs. The home features a welcoming entry with a grand staircase, a large living room with a fireplace, and a spacious dining area with four tables. Upstairs, there is a game room with a bar area. The kitchen is equipped with custom cabinets, quartz countertops, an island, and Z-Line appliances, including a dishwasher, refrigerator, and a 48-inch double oven range with a gas cooktop. There are also three coffee bars and the game room includes a full-size refrigerator, sink, and microwave. The backyard, according to the prior owner, has been used for weddings and features a koi pond. The property includes a recently sealed parking lot with approximately 10 spaces, with additional parking in front of the converted garages. The home is fully furnished. The property is located in the heart of Fort Smith, with restaurants, shopping, and hospitals nearby. The airport is 9 minutes away, and the University of Arkansas at Fort Smith is 4 minutes away. The property sits on a 0.88-acre lot. The parking lot has approximately 10 parking spaces. The property has 50% occupancy year-to-date with minimal marketing. Additional income could be generated by adding two more rooms, leaving one room for an owner or caretaker.