8-Unit Apartment
For Sale
$525,000
2301 S V ST, Fort Smith, AR 72901
MULTI_FAMILY - Fort Smith, AR
Property Size6,360 SF
Lot Size0.32 Acres
Price / SF$82.55
Days on Market100
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
(479) 434-3000
Listed By:
Bonnie Gayer
(479) 434-3000
Added: May 1
Changed: Aug 2
Last Checked: Aug 8 at 6:06PM
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 8-unit apartment complex in Fort Smith offers a residential income setup with central heating and central air. The property (6360 SF) has seen updates including full repaints across the units, with kitchen cabinet work such as new cabinet hardware. Bathroom improvements include new vanities, and some medicine cabinets have been replaced with hung mirrors. Additional updates include new lighting and fans, and most units have new flooring, with the exception that kitchen flooring has not been done in units 6 and 8.
The building features a shingle roof and a mix of flooring materials including laminate, wood, and carpet. Set on a 0.32-acre lot, the property is located at 2301 S V St in Sebastian County.
For tenants seeking comfortable, mechanically heated and cooled apartment living, the central HVAC configuration supports consistent year-round comfort.
The building features a shingle roof and a mix of flooring materials including laminate, wood, and carpet. Set on a 0.32-acre lot, the property is located at 2301 S V St in Sebastian County.
For tenants seeking comfortable, mechanically heated and cooled apartment living, the central HVAC configuration supports consistent year-round comfort.
Key Highlights
- 8 units with central heating and central air
- 0.32‑acre lot
- 6360 SF apartment complex
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
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
226
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated 8-unit apartment complex with central heat and central air on a 0.32-acre lot.
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 units with central heating and central air; 0.32‑acre lot; 6360 SF apartment complex
