Fort Smith Triplex Conversion
7406 Ellis ST Fort Smith, AR 72916
For Sale
$299,000
MULTI_FAMILY - Fort Smith, AR
Property Size2,841 SF
Lot Size0.19 Acres
Price / SF$105.24
Days on Market76
Property Features for 7406 Ellis ST
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- APN
- 1
- Size
- 2,841 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Description
- 1
- Tax Annual Amount
- 1
Building Details
- Year built
- 1940
- Floors in Building
- 1
- Number of units
- 3
- Flooring type
- Vinyl
- Roof type
- Shingle
- Architectural style
- Other
Listing Agency:
O'Neal Real Estate- Fort Smith
(479) 242-4609
Listed By:
Team Shoppach
(918) 774-5743
Added: May 10
Changed: May 11
Last Checked: Jul 24 at 7:06AM
MLS# 1088979
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.
Located in the Chaffee Crossing district of Fort Smith, Arkansas, 7406 Ellis Street presents an investment opportunity. This former military barracks/office building is approved for conversion into a triplex, offering three townhome-style residences. The property is being sold AS-IS, intended for purchase and completion by an investor or developer. The City of Fort Smith has approved all permitting and architectural plans, which will transfer with the sale. The plans feature elevated individual front porches with stair access, white exterior siding, black roofing, dedicated parking, composite decking, open living areas, kitchens with islands, updated baths, and LVT flooring. The building has a total area of 2841 square feet on a 0.19-acre lot. The property is located in a growing area with ACHE, Heritage, Fort Smith Brewing, Conex Bar, trails, medical facilities, manufacturing, industry, and new residential developments. The property is suited for short-term rentals, with projected income of approximately $1,750 per unit.
Key Highlights
- Approved for conversion into three modern townhome‑style residences.
- All permitting and architectural plans approved by the City of Fort Smith convey with the sale.
- Located in Chaffee Crossing, a dynamic growth corridor in Fort Smith.
Financial Insights For Multifamily LT 5
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 | $29.0k | $10.20 |
| − Vacancy | −$2.1k | −$0.73 |
| EGI | $26.9k | $9.47 |
| − OpEx | −$8.1k | −$2.84 |
| NOI | $18.8k | $6.63 |
2,841 SF · lease $10.20/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$269.1K
$235.5K – $314.0K
NOI $18,840 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$240.3K
$210.3K – $280.4K
NOI $16,824 @ 7.0% cap · market cap 5.63%
Theoretical Best
Healthcare Medical
$604.5K
$528.9K – $705.2K
NOI $42,312 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Investor opportunity to convert historic building into three townhomes.
Where is this triplex located?
The property is located at 7406 Ellis ST Fort Smith, AR.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Approved for conversion into **three modern townhome‑style residences**.; All permitting and architectural plans approved by the City of Fort Smith convey with the sale.; Located in Chaffee Crossing, a dynamic growth corridor in Fort Smith.
