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University Park Place 24 Duplexes 5717 Park Ave 48 Unit Apartment Building $24,618,007 CAD ($512,875 CAD/Unit) 6.50% Cap Rate Fort Smith, AR 72903
Executive Summary
University Park Place is a 48-unit, purpose-built student housing community strategically located within a 5-minute walk to the University of Arkansas–Fort Smith campus. Fully furnished 4-bedroom, 4-bathroom townhomes with individual, by-the-bed leasing, catering directly to student renters. Each unit offers modern, highly desirable amenities including private bedrooms and bathrooms, stainless steel appliances, wood-style flooring, in-unit washer and dryer sets (two per unit), walk-in closets, and fully furnished living spaces with large-screen TVs. Community features are outdoor grilling areas, fire pit pergolas, pet-friendly spaces, and planned resident events, enhancing tenant retention and lifestyle appeal. The asset is positioned as one of the most affordable off-campus housing options in the market while maintaining strong unit quality and competitive amenities.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$2,268,796
|
$23.46
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$68,064
|
$0.70
|
| Effective Gross Income |
$2,200,732
|
$22.75
|
| Taxes |
$285,323
|
$2.95
|
| Operating Expenses |
$315,926
|
$3.27
|
| Total Expenses |
$601,249
|
$6.22
|
| Net Operating Income |
$1,599,483
|
$16.54
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $2,268,796 |
| Annual Per SF | $23.46 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $68,064 |
| Annual Per SF | $0.70 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $2,200,732 |
| Annual Per SF | $22.75 |
| Taxes (CAD) | |
|---|---|
| Annual | $285,323 |
| Annual Per SF | $2.95 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $315,926 |
| Annual Per SF | $3.27 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $601,249 |
| Annual Per SF | $6.22 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,599,483 |
| Annual Per SF | $16.54 |
Property Facts
| Price | $24,618,007 CAD | Property Subtype | Apartment |
| Price Per Unit | $512,875 CAD | Apartment Style | Townhome |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.50% | Lot Size | 5.06 AC |
| Gross Rent Multiplier | 10 | Building Size | 96,720 SF |
| No. Units | 48 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2020 |
| Zoning | Multifamily | ||
| Price | $24,618,007 CAD |
| Price Per Unit | $512,875 CAD |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Gross Rent Multiplier | 10 |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 5.06 AC |
| Building Size | 96,720 SF |
| No. Stories | 2 |
| Year Built | 2020 |
| Zoning | Multifamily |
Amenities
Unit Amenities
- Dishwasher
- Microwave
- Washer/Dryer
- Refrigerator
- Range
- Island Kitchen
Site Amenities
- Laundry Facilities
- Picnic Area
- Furnished Units Available
- Grill
- Pet Play Area
- Planned Social Activities
- Recycling
- Trash Pickup - Curbside
- Walking/Biking Trails
- Walk To Campus
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+4 | 48 | $3,939 CAD | 96,720 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 11264-0001-00000-00 | Total Assessment | $1,915,819 CAD |
| Land Assessment | $122,280 CAD | Annual Taxes | $285,323 CAD ($2.95 CAD/SF) |
| Improvements Assessment | $1,793,539 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
11264-0001-00000-00
Land Assessment
$122,280 CAD
Improvements Assessment
$1,793,539 CAD
Total Assessment
$1,915,819 CAD
Annual Taxes
$285,323 CAD ($2.95 CAD/SF)
Tax Year
2025
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University Park Place 24 Duplexes | 5717 Park Ave
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