5201 Spradling Avenue, Fort Smith, AR 72904
Local realty services provided by:CENTURY 21 First Choice Realty
Listed by: lindsey cotton
Office: harmon real estate company
MLS#:1092230
Source:AR_FSBOR
Price summary
- Price:$3,900,000
- Price per sq. ft.:$121.2
About this home
A 62-unit brick garden community on Fort Smith’s Northside. Built in 1991 across four two-story buildings on 1.80 acres, plus an adjacent parcel acquired by current ownership, the property offers a mix of 24 one-bedroom (600 SF) and 38 two-bedroom (820 SF) units with an on-site leasing office, on-site laundry, playground and resident storage.
Current ownership acquired The Hendrix in June 2025 and executed the first phase of a value-add plan: new roofs on all three buildings ($104,500), replacement of rotted decks, a plumbing camera inspection and clean-out program on Building D, exterior painting and rehab, and cleaning and painting of the soffits and rafters — roughly $174,000 of roof, exterior and systems capital — plus eight units renovated to a full-scope specification (new kitchen and bath cabinets and countertops, flooring, tub surrounds, light and sink fixtures, full paint, appliances as needed), the acquisition of the adjacent parcel, and a grounds program that lifted the property’s Google rating from 3.7 to 4.0. Operations followed. August 2026 collections of $39,904 were the highest month under current ownership, and trailing-three-month income annualizes 15% above the first three months of the trailing twelve.
The next owner steps into a proven playbook with the runway intact. Fifty-four classic units remain to be brought to the renovated specification, where two-bedroom units lease at $780 against $585–$765 on legacy leases, and water, sewer and trash are owner-paid with no utility bill-back in place — a RUBS opportunity worth approximately $32,000 per year. Stabilized pro forma NOI of approximately $307,000 represents a 7.9% cap rate at the list price....
Contact an agent
Home facts
- Year built:1991
- Subdivision & Development:STOUGH'S ELECTRIC PARK #2
- Listing ID #:1092230
- Added:1 day(s) ago
- Updated:October 03, 2026 at 02:36 AM
Rooms and interior
- Flooring:Carpet, Vinyl
- Living area:32,178 sq. ft.
Heating and cooling
- Cooling:Window Units
- Heating:Central
Structure and exterior
- Roof:Asphalt, Shingle
- Year built:1991
- Building area:32,178 sq. ft.
- Lot area:1.8 Acres
- Lot Features:Cleared, Open Lot
- Construction Materials:Brick
- Levels:2 Story
Schools
- High school:Northside
- Middle school:Kimmons
- Elementary school:Spradling
Finances and disclosures
- Price:$3,900,000
- Price per sq. ft.:$121.2
- Tax amount:$30,414
Features and amenities
- Appliances:Electric Water Heater, Gas Water Heater
- Amenities:Smoke Detectors
Parking
- Parking description:Asphalt Driveway, Parking Lot
New listings near 5201 Spradling Avenue
- New
$49,900Active2 beds 1 baths1,141 sq. ft.5105 29th Street, Fort Smith, AR 72901
MLS# 1092237Listed by: KELLER WILLIAMS PLATINUM REALTY - New
$1,325,000Active-- beds -- baths12,580 sq. ft.4515 Kinkead Avenue, Fort Smith, AR 72903
MLS# 1092220Listed by: HARMON REAL ESTATE COMPANY - New
$30,000Active0.16 AcresTBD Johnson Street, Fort Smith, AR 72904
MLS# 1092227Listed by: KN REALTY GROUP - New
$329,900Active3 beds 2 baths1,640 sq. ft.8909 Stoney Hedge Drive, Fort Smith, AR 72908
MLS# 1092213Listed by: KELLER WILLIAMS PLATINUM REALTY - Open Sat, 10am to 12pmNew
$248,500Active3 beds 2 baths1,891 sq. ft.5 Brentwood Circle, Fort Smith, AR 72908
MLS# 1363906Listed by: BETTER HOMES AND GARDENS REAL ESTATE JOURNEY BENTO - New
$115,000Active3 beds 1 baths1,008 sq. ft.5108 Staples, Fort Smith, AR 72904
MLS# 1092209Listed by: ALTA STAR REALTY - New
$359,900Active4 beds 3 baths3,177 sq. ft.1447 N 52nd Street, Fort Smith, AR 72904
MLS# 1092207Listed by: O'NEAL REAL ESTATE- FORT SMITH - New
$540,000Active3 beds 3 baths2,250 sq. ft.3816 Aileron Avenue, Fort Smith, AR 72903
MLS# 1092181Listed by: THE HERITAGE GROUP REAL ESTATE - BARLING - New
$440,000Active3 beds 2 baths2,137 sq. ft.12905 Marble Drive, Fort Smith, AR 72916
MLS# 1092203Listed by: WARNOCK REAL ESTATE LLC