4515 kinkead AVE
Property Description
Kinkead Court is an 18-unit, two-building brick community on the Kinkead Avenue corridor in central Fort Smith, one mile from the University of Arkansas-Fort Smith and four-tenths of a mile from Kinkead Corner, which traded in December 2025. The unit mix is four studios (600 SF), eight one-bedrooms (750 SF) and six two-bedrooms (933 SF) - 14,000 rentable square feet on 0.49 acres, zoned RM-3. Current ownership acquired the property in December 2024 and has completed a full operating reset: new A/C units in 17 of the 18 apartments, a complete exterior repaint of siding, trim, soffits, stairways and railings, new privacy fencing on the 45th Street side and the street frontage, locking mailboxes, upgraded exterior lighting, enclosed under-stair areas, two full unit renovations with targeted kitchen and bath upgrades in two more, plumbing repairs, tree work and landscaping - and a renewal program that has moved rents roughly 32%. The property was 100% occupied at August month-end with a utility bill-back already in place; two units turned in September and are rent-ready. What remains is loss-to-lease, not construction. In-place rents on the occupied units sit $800 per month below their market rents, so the buyer's upside is captured on renewal with no capital required. Stabilized pro forma NOI of approximately $79,000 is a 6.0% cap rate at the list price.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,325,000 |
| No. of Units: | 18 |
| Year Built: | 1976 |
| Lot Size: | 12,580.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $73,611 |
| Property Website | Click Here |
| Number of Bedrooms: | 24 |
| Number of Bathrooms: | 0 |
ID: 3yd-FSBORAR-1092220
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
15852-15856 S 51st Place
Terre Haute, Indiana
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout