Updated Apartment
For Sale
$525,000
2301 S V ST, Fort Smith, AR 72901
Multifamily, Fort Smith, AR
Property Size6,360 SF
Lot Size0.32 Acres
Price / SF$82.55
Days on Market152
Property Features for 2301 S V ST
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Subdivision
Park Hill
Lot features
Corner
Directions
on Corner of S.23rd St and S. V St. Take South 23rd to S. V St
Standard status
Active
APN
00000000
Size
6,360 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Description
Part Ne Se
Tax Annual Amount
1501
Legal Description
Part Ne Se
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Floors in Building
2
Number of units
8
Flooring type
Laminate, Wood, Carpet
Roof type
Shingle
Listing Agency:
Keller Williams Platinum Realty · Keller Williams Realty
Listed By:
Bonnie Gayer
(479) 434-3000
Added: May 1
Changed: Sep 14
Last Checked: Sep 29 at 9:06PM
MLS# 1088940
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 multifamily property contains 8 apartment units across 6,360 square feet on a 0.32-acre parcel. Recent interior work includes full repainting, refreshed kitchen cabinetry and hardware, updated bathroom vanities, selected medicine-cabinet replacements with hung mirrors, new lighting and fans, and new flooring in most units. Units 6 and 8 retain their existing kitchen flooring. Interior finishes include laminate, wood, and carpet, while the building is equipped with central heating, central air conditioning, and a shingle roof.
Located in Fort Smith, Arkansas, the property provides an apartment-building configuration suited to continued residential income use. The compact parcel and established improvements offer a straightforward operating footprint for an owner or multifamily operator.
Located in Fort Smith, Arkansas, the property provides an apartment-building configuration suited to continued residential income use. The compact parcel and established improvements offer a straightforward operating footprint for an owner or multifamily operator.
Key Highlights
- 8 apartment units in a 6,360‑square‑foot building
- 0.32‑acre parcel in Fort Smith, AR
- Recent repainting across all units, including kitchen cabinets
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,663
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.17%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$753,260
$753.3K
Cap Rate 7%
$538,043
$538.0K
Cap Rate 9%
$418,478
$418.5K
Market Conditions
NOI Build-Up for 6,360 SF
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.
Gross rent
$74.0K $11.64/SF
− Vacancy
−$5.6K −$0.87/SF
EGI
$68.5K $10.77/SF
− OpEx
−$30.8K −$4.85/SF
NOI
$37.7K $5.92/SF
Area
Sebastian County, AR
Vacancy
7.50%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$753,260
Cap Rate 7%
$538,043
Cap Rate 9%
$418,478
Alternative Uses
Best Use
Apartment 5plus
$538.0K
$470.8K – $627.7K
NOI $37,663 @ 7.0% cap · market cap 7.17%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.35M
$1.18M – $1.58M
NOI $94,721 @ 7.0% cap · market cap 18.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
196
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit property with refreshed interiors and central heating and cooling throughout.
Where is this apartment building located?
The property is located at 2301 S V ST Fort Smith, AR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 8 apartment units in a 6,360‑square‑foot building; 0.32‑acre parcel in Fort Smith, AR; Recent repainting across all units, including kitchen cabinets
