5000 Allison LnFort Smith, AR 72901
- Apartment buildings
Property Details for 5000 Allison Ln
- Year built
- 2003
- Property type
- Apartment buildings
Description
This exceptional value-add opportunity presents a 22-unit apartment building located at 5000 Allison Ln, Fort Smith, Arkansas, 72901. The property, built in 2003 and renovated in 2021, consists of a single, one-story building encompassing 11 structures. Currently boasting 100% occupancy, this Class B multifamily asset offers 22 three-bedroom, two-bathroom units, each featuring 1023 square feet of living space. Amenities include laundry hookups, central HVAC, and vinyl plank/tile flooring. The property is zoned RM3 and sits in a prime location near abundant retail and employment opportunities, benefiting from the growth of Fort Smith and Chaffee Crossing. Currently stabilized, this investment presents significant upside potential through conservative rent increases, leveraging market data indicating a $418 premium for comparable units. Further value can be added through light upgrades to both the units and the exterior. The asking price is $2,400,000, representing a below-replacement-cost acquisition.
Location Insight
- City
- Fort Smith
- County
- Sebastian
- State
- Arkansas
- Latitude
- 35.335
- Longitude
- -94.4089
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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