Capstone Apartment Partners is pleased to present the unique offering of Boardwalk & College Terrace: a 106-unit, partially affordable community located in Fort Smith, Arkansas. Built in 1972, Boardwalk & College Terrace represent a fantastic opportunity to acquire two properties at once. Tenants of Boardwalk benefit from HUD rental assistance, while ownership takes advantage of vacancy reimbursements and turnover expense alleviation. This HUD program has proven to be so lucrative for owners that HUD no longer offers it to newly applying properties, thereby increasing the desirability of this asset even further. College Terrace is an under-rented, market rate property primed for a market proven value-add initiative to achieve immediate rent growth. The combination of Fort Smith’s growing economy and Boardwalk & College Terrace’s prime location makes this a one-of-a-kind offering.

• Light Value-Add Opportunity
• Organic Growth in submarket
• Prime Location & Strong Fort Smith Economy