4511 High Street, Fort Smith, AR
12.68% return
SP:
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Property Description

Awesome Investment!! 

24 unit complex. Only $25k per unit!!! Currently rented below market value. Property needs some cosmetic improvements to increase rents. Fort Smith MSA is home to 270,000 residents. Tons of rental demand in the area. Properties will generate an amazing return on investment once complete. Will easily appraise at $35-40k per unit after renovations. 

Financing and property management is available. 

Property Information

  • Listing statusActive C
  • Property typeMulti Family
  • Total units24
  • Total bedrooms30
  • Total bathrooms24
  • Building size13416 sq. ft.
  • Lot size0.8 acres
  • Year built1985
  • CountySebastian County
  • SubdivisionMIDLAND HEIGHTS
  • ConstructionBrick/Frame
  • RoofShingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingWindow Unit
  • CoolingWindow A/C

Property Financial Summary

  • Sale price $660,000
  • Estimated rehab 1 $120,000
  • Total investment $780,000
  • Type Proforma
  • After repair value $840,000
  • Potential profit $60,000
  • Gross income (annually) $136,800
  • Operating expenses (annually) $37,874
  • Net income (annually) $98,926
  • Gross return 17.54%
  • Gross income (monthly) $11,400
  • Operating expenses (monthly) $3,156
  • Net income (monthly) $8,244
  • Net return 12.68%

Property Income & Expenses

  • Income
  • 1
  • Unit 1: 1 bed / 1 bath $450/month $5,400/year
  • Unit 2: 1 bed / 1 bath $450/month $5,400/year
  • Unit 3: 1 bed / 1 bath $450/month $5,400/year
  • Unit 4: 1 bed / 1 bath $450/month $5,400/year
  • Unit 5: 1 bed / 1 bath $450/month $5,400/year
  • Unit 6: 1 bed / 1 bath $450/month $5,400/year
  • Unit 7: 1 bed / 1 bath $450/month $5,400/year
  • Unit 8: 1 bed / 1 bath $450/month $5,400/year
  • 2
  • Unit 9: 1 bed / 1 bath $450/month $5,400/year
  • Unit 10: 1 bed / 1 bath $450/month $5,400/year
  • Unit 11: 1 bed / 1 bath $450/month $5,400/year
  • Unit 12: 1 bed / 1 bath $450/month $5,400/year
  • Unit 13: 1 bed / 1 bath $450/month $5,400/year
  • Unit 14: 1 bed / 1 bath $450/month $5,400/year
  • Unit 15: 1 bed / 1 bath $450/month $5,400/year
  • Unit 16: 1 bed / 1 bath $450/month $5,400/year
  • 3
  • Unit 17: 1 bed / 1 bath $450/month $5,400/year
  • Unit 18: 1 bed / 1 bath $450/month $5,400/year
  • Unit 19: 2 bed / 1 bath $550/month $6,600/year
  • Unit 20: 2 bed / 1 bath $550/month $6,600/year
  • Unit 21: 2 bed / 1 bath $550/month $6,600/year
  • Unit 22: 2 bed / 1 bath $550/month $6,600/year
  • Unit 23: 2 bed / 1 bath $550/month $6,600/year
  • Unit 24: 2 bed / 1 bath $550/month $6,600/year
  • Total $11,400/month $136,800/year
  • Expenses
  • Property Management $1,140/month $13,680/year
  • Property Taxes $374/month $4,494/year
  • Insurance $267/month $3,200/year
  • Water and Sewer $750/month $9,000/year
  • Maintenance reserve $625/month $7,500/year
  • Total $3,156/month $37,874/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.

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