2614 57th Street

Southwood Apartments, a 16-unit multifamily community located at 2614 S 57th St in Fort Smith, Arkansas. The property totals 9,169 SF across twelve 1-bed/1-bath and four 2-bed/1-bath units in a single building. The community also features 8 on-site storage units and an on-site laundry room, providing additional tenant amenities and potential ancillary income. The property is 100% occupied. Southwood currently generates $119,346 in trailing 12-month income with a 44.9% expense ratio and a T-12 NOI of $65,762. The property is professionally managed with full AppFolio reporting and has maintained full occupancy throughout the current ownership period. In-place rents range from $450 to $795 per month across the portfolio, with several units leased meaningfully below comparable market rents in the area. Buyers are encouraged to evaluate current market conditions and rent comparables to assess the potential value-add opportunity through lease renewals. The on-site storage units and laundry room present additional opportunities for a new owner to enhance revenue through optimized pricing or coin-operated laundry income. The 16-unit single-building format offers efficient management scale — one roof, one address, one insurance policy — making this an attractive asset for investors seeking operational simplicity with meaningful unit count. The property is located along the S 57th St corridor in south Fort Smith with easy access to Rogers Avenue retail, Towson Avenue, and I-540/I-49. Fort Smith is Arkansas's second-largest city with a metro population exceeding 285,000 and an employer base anchored by healthcare, logistics, manufacturing, and defense. Limited new multifamily construction in the submarket continues to support occupancy and rental demand.