Updated 12-Unit Multifamily
2308 Savannah Street Fort Smith, AR 72903
For Sale
$730,000
Well maintained 12-unit multifamily with updated interiors and an on-site laundry facility.
Property Size8,308 SF
Price / SF$87.87
Days on Market236
Property Features for 2308 Savannah Street
General Information
- Standard status
- Active
- Size
- 8,308 SF
- Property subtype
- Apartment
Listing Agency:
Keller Williams Platinum Realty
(479) 434-3000
Listed By:
Misty Beasley · License #SA00087019
(479) 414-0507
Source:
Xome
Added: Nov 30, 2025
Changed: Jul 23
Last Checked: Jul 24 at 5:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Platinum Realty
Investment Insights
Based on property information with market context.
This well maintained and updated 12-unit multifamily property includes 7 one-bedroom units and 5 two-bedroom units. The interiors have been updated, and the property features an income-producing on-site laundry facility.
In addition to the residential units, there is an extra vacant room that could be used as a community space, office, or fitness room. The property is presented as turnkey, with strong occupancy and minimal ongoing maintenance noted in the remarks.
Overall, the building is configured for residential income with on-site laundry and a flexible additional room that may support a variety of uses depending on an operator’s preference.
In addition to the residential units, there is an extra vacant room that could be used as a community space, office, or fitness room. The property is presented as turnkey, with strong occupancy and minimal ongoing maintenance noted in the remarks.
Overall, the building is configured for residential income with on-site laundry and a flexible additional room that may support a variety of uses depending on an operator’s preference.
Key Highlights
- 12‑unit multifamily property with 7 one‑bedroom units and 5 two‑bedroom units
- Updated interiors throughout the units
- On‑site laundry facility adds income‑producing amenity space
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
NOI $49,199 @ 7.0% cap · market cap 6.74%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.77M
$1.55M – $2.06M
NOI $123,733 @ 7.0% cap · market cap 16.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Well maintained 12-unit multifamily with updated interiors and an on-site laundry facility.
Where is this apartment building located?
The property is located at 2308 Savannah Street Fort Smith, AR.
What is the asking price?
The asking price for this property is $730,000.
What are key features of this property?
This property features: 12‑unit multifamily property with 7 one‑bedroom units and 5 two‑bedroom units; Updated interiors throughout the units; On‑site laundry facility adds income‑producing amenity space
