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    Updated Multifamily Property in Fort Smith

    2308 Savannah ST Fort Smith, AR 72903

    Claim this Listing
    For Sale
    $760,000

    MULTI_FAMILY - Fort Smith, AR

    Type:Apartment
    Property size:
    8,308 SF
    Lot size:
    0.50 Acres
    Price / SF:
    $91/SF
    Added:
    Dec 1, 2025
    Days on Market:
    222
    Last Refresh:
    Jul 11 at 12:06 pm

    Property Features for 2308 Savannah ST

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Bedrooms
    17
    Rooms
    Bedroom 3, Bedroom 4, Bedroom 17, Bedroom 10, Bedroom 9, Bedroom 5, Bedroom 6, Bedroom 11, Bedroom 2, Bedroom 15, Bedroom 13, Bedroom 8, Bedroom 12, Bedroom 14, Bedroom 16, Bedroom 1, Bedroom 7
    Parking features
    Assigned
    Standard status
    Active
    APN
    14984-0044-00000-00
    Size
    8,308 SF
    Lot size
    0.50 Acres

    Taxes and HOA fees

    Tax Description
    E/2 LT 44
    Tax Annual Amount
    2947

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Electric

    Building Details

    Floors in Building
    2
    Number of units
    12
    Flooring type
    Vinyl, Wood
    Roof type
    Shingle

    Listing agent Misty Beasley License #SA00087019

    Listing office Keller Williams Platinum Realty 3300 S 70th St., Fort Smith, AR

    Listing date Dec 1, 2025

    MLS# 1085437 Listing URL

    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.

    This well-maintained and updated 12-unit multifamily property is located in Fort Smith, Arkansas. The property features updated interiors and an income-producing on-site laundry facility. The unit mix includes 7 one-bedroom units and 5 two-bedroom units. An additional vacant room is available, suitable for use as a community space, office, or fitness room. The property has a strong occupancy rate and a reliable tenant base, requiring minimal ongoing maintenance. This turnkey investment offers stable cash flow and potential for future rent growth. The property size is 8308 square feet and it sits on a 0.5-acre lot.

    Key Highlights

    • Stable cash flow with potential for future rent growth.
    • Turnkey investment with minimal ongoing maintenance.
    • Updated interiors in all 12 units.

    Local 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 $96.7k $11.64
    − Vacancy −$7.3k −$0.87
    EGI $89.5k $10.77
    − OpEx −$40.3k −$4.85
    NOI $49.2k $5.92
    8,308 SF · lease $11.64/SF/yr · vacancy 7.50% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $702.8K
    $615.0K – $820.0K (±1% cap)
    NOI $49,199 @ 7.0% cap · market cap 6.47%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Healthcare Medical
    $1.77M
    $1.55M – $2.06M (±1% cap)
    NOI $123,733 @ 7.0% cap · market cap 16.28%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Real Estate Agency (Bike/Boat/Book/etc) Store Dental Office Butcher Skin Care Clinic (Bike/Boat/Book/etc) Store (Bike/Boat/Book/etc) Store Locksmith Tanning Salon

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 12-unit property with income potential in prime location.
    Where is this apartment building located?
    The property is located at 2308 Savannah ST Fort Smith, AR.
    What is the asking price?
    The asking price for this property is $760,000.
    What are key features of this property?
    This property features: Stable cash flow with potential for future rent growth.; Turnkey investment with minimal ongoing maintenance.; Updated interiors in all 12 units.
    Contact an agent
    (479) 434-3000
    We can help!
    Contact an agent
    Misty Beasley
    Misty Beasley
    Real Estate License ID: SA00087019
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