18-Unit Brick Apartment
New
For Sale
$1,325,000
4515 Kinkead Ave, Fort Smith, AR 72903
Two brick buildings offer studio, one-bedroom and two-bedroom apartments in central Fort Smith.
Property Size12,580 SF
Lot Size0.49 Acres
Price / SF$105.33
Days on Market2
Property Features for 4515 Kinkead Ave
General Information
Standard status
Active
Size
12,580 SF
Net Rentable
14,000 SF
Lot size
0.49 Acres
Property subtype
Multi-Family
Zoning
RM-3
Occupancy
100%
Units
Unit Mix
4 x studio, 8 x 1BR, 6 x 2BR
Multifamily Units
18
Building Details
Year Built
1976
Buildings
2
Construction
brick
Listing Agency:
The Heritage Group Real Estate - Barling
(479) 806-5955
Listed By:
Bradford & Udouj Realtors
(479) 646-5539
Source:
Bradfordudouj
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 2:26AM
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 The Heritage Group Real Estate - Barling
Investment Insights
Based on property information with market context.
Kinkead Court comprises two brick apartment buildings with 18 units: four studios, eight one-bedroom apartments and six two-bedroom apartments. Improvements include replacement air-conditioning units in 17 apartments, two fully renovated units, kitchen and bath updates in two others, plumbing repairs, upgraded exterior lighting, new fencing and refreshed landscaping. The property occupies 0.49 acres and is zoned RM-3.
The community is on the Kinkead Avenue corridor in central Fort Smith, one mile from the University of Arkansas Fort Smith and 0.4 miles from Kinkead Corner. A utility bill-back program is in place; two units that turned in September are rent-ready.
The community is on the Kinkead Avenue corridor in central Fort Smith, one mile from the University of Arkansas Fort Smith and 0.4 miles from Kinkead Corner. A utility bill-back program is in place; two units that turned in September are rent-ready.
Key Highlights
- 18 apartments across two brick buildings
- Unit mix: 4 studios at 600 SF, 8 one‑bedrooms at 750 SF and 6 two‑bedrooms at 933 SF
- Air‑conditioning units replaced in 17 of 18 apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,497
Cap Rate
5.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,489,940
$1.5M
Cap Rate 7%
$1,064,243
$1.1M
Cap Rate 9%
$827,744
$827.7K
Market Conditions
NOI Build-Up for 12,580 SF
Gross rent
$146.4K $11.64/SF
− Vacancy
−$11.0K −$0.87/SF
EGI
$135.4K $10.77/SF
− OpEx
−$61.0K −$4.85/SF
NOI
$74.5K $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 Rate 5%
$1,489,940
Cap Rate 7%
$1,064,243
Cap Rate 9%
$827,744
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$931.2K – $1.24M
NOI $74,497 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.68M
$2.34M – $3.12M
NOI $187,356 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
18
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 72903, AR
25,225
Population
12,079
Households
2.1
Avg Household Size
41
Median Age
33%
College-Educated
91%
High-School Grad
16.2 sq mi
ZIP Area
1,557
Density / Sq Mi
$60,186
Median Household Income
$36,560
Median Earnings
$804
Median Rent
$216,200
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 - Two brick buildings offer studio, one-bedroom and two-bedroom apartments in central Fort Smith.
Where is this apartment building located?
The property is located at 4515 Kinkead Ave Fort Smith, AR.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: 18 apartments across two brick buildings; Unit mix: 4 studios at 600 SF, 8 one‑bedrooms at 750 SF and 6 two‑bedrooms at 933 SF; Air‑conditioning units replaced in 17 of 18 apartments
