Lakeside Townhomes
Location: Fort Smith, Arkansas
Units: 104 Units; part of a 267 unit two complex portfolio
Amenities & Features:
- A quiet community with lakeside views, balconies, and swimming pool
- Units are pet friendly and units offer washer/dryer connections
- On-site service includes laundry facilities and maintenance onsite
Rockwood Terrace is located in Fort Smith, AR, which is the #1 manufacturing hub in Arkansas. Fort Smith is the 2nd largest city in Arkansas, with approximately 83,000 people and ranked as the #8 Best Places for Business and Career in 2019 by Forbes. The cost of living is 15% the National Average, unemployment is 31% below the National Average and Arkansas is known to be the #1 landlord friendly State. Where this property is located, annual rent gains continue to be strong at 6.2% (per Apartment Data, Inc as of Dec 2019).
Lakeside Townhomes, located nearby its sister property — Rockwood Terrace, is country living in the city as you wake up to birds singing and wind whistling through the trees on the lake. Located in the heart of Fort Smith, Lakeside is close to shopping, entertainment, banking and fine dining. This project will be purchased as part of a two complex portfolio with Rockwood Terrace in November 2020 and is projected to return 17.5% cash-on-cash return , 100.5% overall rare of return, and an internal rate of return of 17.4% to investors.