14-Unit Apartment
For Sale
$1,025,000
1805 S Y ST, Fort Smith, AR 72901
MULTI_FAMILY - Fort Smith, AR
Property Size10,144 SF
Lot Size0.88 Acres
Price / SF$101.04
Days on Market106
Property Features for 1805 S Y ST
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
39
Rooms
Bedroom 12, Bedroom 3, Bedroom 20, Bedroom 37, Bedroom 7, Bedroom 15, Bedroom 36, Bedroom 2, Bedroom 6, Bedroom 24, Bedroom 31, Bedroom 16, Bedroom 11, Bedroom 32, Bedroom 8, Bedroom 30, Bedroom 5, Bedroom 13, Bedroom 4, Bedroom 33, Bedroom 29, Bedroom 21, Bedroom 27, Bedroom 38, Bedroom 35, Bedroom 18, Bedroom 22, Bedroom 23, Bedroom 10, Bedroom 34, Bedroom 17, Bedroom 25, Bedroom 19, Bedroom 39, Bedroom 9, Bedroom 14, Bedroom 26, Bedroom 28, Bedroom 1
Window features
Double Pane Windows
Subdivision
Bailey
Lot features
In Subdivision
Directions
Turn on Jenny Lind Road onto S. Y Street, property on the right
Standard status
Active
APN
10214-0019-00073-00
Size
10,144 SF
Lot size
0.88 Acres
Taxes and HOA fees
Tax Description
7-8 BLK 72 & LTS 7-9 & S BLK 73
Tax Annual Amount
5519
Legal Description
7-8 BLK 72 & LTS 7-9 & S BLK 73
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1985
Floors in Building
2
Number of units
14
Flooring type
Vinyl
Roof type
Metal
Listing Agency:
Harmon Real Estate Company
(479) 546-0109
Listed By:
Joshua Harmon · License #PB00080746
(479) 719-0344
Added: Apr 22
Changed: Aug 3
Last Checked: Aug 5 at 2:06AM
MLS# 1088571
Copyright © 2026 Western River Valley Board of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
1805 S Y St, Fort Smith, AR 72901 presents a 14-unit multifamily building totaling 10,144 SF on a 0.8762-acre lot. The property was built in 1985 and has vinyl flooring, central heating, central air conditioning, and a metal roof. Renovations were completed in 2023.
Current occupancy is reported at 92.9%, supporting an income-focused ownership strategy. The property is zoned RM-3 in Sebastian County, Arkansas.
With 14 units in place, this building is positioned for continued use as an apartment investment under its existing residential zoning.
Current occupancy is reported at 92.9%, supporting an income-focused ownership strategy. The property is zoned RM-3 in Sebastian County, Arkansas.
With 14 units in place, this building is positioned for continued use as an apartment investment under its existing residential zoning.
Key Highlights
- 14 units in a 10,144 SF apartment building
- 92.9% reported occupancy
- Renovated in 2023
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $118.1k | $11.64 |
| − Vacancy | −$8.9k | −$0.87 |
| EGI | $109.2k | $10.77 |
| − OpEx | −$49.1k | −$4.85 |
| NOI | $60.1k | $5.92 |
10,144 SF · lease $11.64/SF/yr · vacancy 7.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$858.2K
$750.9K – $1.00M
NOI $60,071 @ 7.0% cap · market cap 5.86%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.16M
$1.89M – $2.52M
NOI $151,077 @ 7.0% cap · market cap 14.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
92.9%
Occupancy
Location Intelligence
Trade Area within ½ mile
395
Businesses Nearby
Explore this area
Business Placement
Demographics for 72901, AR
20,973
Population
10,337
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
81%
High-School Grad
8.7 sq mi
ZIP Area
2,411
Density / Sq Mi
$42,568
Median Household Income
$30,582
Median Earnings
$837
Median Rent
$113,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated in 2023, this RM-3 14-unit apartment building offers central heating and central air.
Where is this apartment building located?
The property is located at 1805 S Y ST Fort Smith, AR.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: 14 units in a 10,144 SF apartment building; 92.9% reported occupancy; Renovated in 2023
