Jonesboro Apartment Complex for
1906 W Matthews Ave, Jonesboro, AR 72401
Apartment complex near major employers with recent renovations.
Type:Multifamily
Property size:
42,580 SFPrice / SF:
$111/SF- Added:
- Apr 16, 2024
- Days on Market:
- 767
- Last Refresh:
- May 12 at 8:48 pm
Property Features for 1906 W Matthews Ave
General Information
- Standard status
- Active
- Size
- 42,580 SF
- Property subtype
- Multifamily
Listing agent William Gay
Listing office Halsey Real Estate
Listing date Apr 16, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Halsey Real Estate
HighLights
- Close proximity to major employers like Riceland, ASU, and St. Bernard's.
- Recent renovations including new flooring, paint, and countertops.
- Relatively new roofs (3 years old).
- Recent exterior repaint (within last three years).
- Updated HVAC systems and water heaters.
- Some new appliances.
Overview
This apartment complex is situated in close proximity to several large employers in Jonesboro, including Riceland, ASU, and St. Bernard's. The apartment buildings feature roofs that are three years old, along with new flooring, paint, and countertops. Some appliances, several HVAC units, and water heaters have been recently replaced. The exterior of the buildings has also been repainted within the last three years. The property encompasses a total size of 42580 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$2.84M
NOI $255,424 @ 9.00% cap · cautious / downside scenario
Moderate
$3.65M
NOI $255,424 @ 7.00% cap · market / base-case scenario
Aggressive
$5.11M
NOI $255,424 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $495.6k | $11.64 |
| − Vacancy | −$31.2k | −$0.73 |
| EGI | $464.4k | $10.91 |
| − OpEx | −$209.0k | −$4.91 |
| NOI | $255.4k | $6.00 |
42,580 SF · lease $11.64/SF/yr · vacancy 6.30% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$3.65M
$3.19M – $4.26M
NOI $255,424 @ 7.0% cap · market cap 5.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.45M
$6.52M – $8.70M
NOI $521,825 @ 7.0% cap · market cap 10.99%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Stratford Manor Apartments
Apartment Building
Location Insight
- Map
- Local Demand
- City
- Jonesboro
- County
- Craighead
- State
- Arkansas
- Longitude
- -90.731883
- Latitude
- 35.83595
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Apartment complex near major employers with recent renovations.
Where is this apartment building located?
The property is located at 1906 W Matthews Ave Jonesboro, AR.
What is the asking price?
The asking price for this property is $4,750,000.
What are key features of this property?
This property features: Close proximity to major employers like Riceland, ASU, and St. Bernard's.; **Recent renovations including new flooring, paint, and countertops.**; Relatively new roofs (3 years old).
