36-Unit Apartment Complex For
For Sale
Contact for pricing
2123 South Blake Street, Pine Bluff, AR 71603
36-unit apartment complex with immediate cash flow potential.
Property Size21,630 SF
Price / SF$73.97
Days on Market86
Property Features for 2123 South Blake Street
General Information
Standard status
Active
Size
21,630 SF
Property subtype
Multifamily
Listing Agency:
RE/MAX Platinum Pine Bluff
(870) 209-4628
Listed By:
Wes Brown · License #PB00087003
Source:
Crexi
Added: May 11
Changed: Jul 10
Last Checked: Aug 3 at 1:43PM
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 RE/MAX Platinum Pine Bluff
Investment Insights
Based on property information with market context.
This 36-unit apartment complex features all 1-bedroom, 1-bathroom units. The property is situated on a busy street with high visibility in Pine Bluff. Currently, 34 of the 36 units are occupied, providing immediate cash flow with potential for increased income through lease-up of the remaining units. The area exhibits strong rental demand and a consistent occupancy history. Each unit is designed for ease of maintenance and tenant appeal. The property's exposure and accessibility make it suitable for a long-term hold or value-add investment strategy. The property size is 21630 square feet. The location is near major thoroughfares, shopping, and employment centers.
Key Highlights
- Immediate cash flow with 34/36 units currently occupied.
- Upside potential through lease‑up of remaining units.
- Strong rental demand in the area with consistent occupancy history.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $259.6k | $12.00 |
| − Vacancy | −$25.4k | −$1.18 |
| EGI | $234.1k | $10.82 |
| − OpEx | −$105.4k | −$4.87 |
| NOI | $128.8k | $5.95 |
21,630 SF · lease $12.00/SF/yr · vacancy 9.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.84M
$1.61M – $2.15M
NOI $128,768 @ 7.0% cap · market cap 8.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.55M
$4.85M – $6.47M
NOI $388,190 @ 7.0% cap · market cap 24.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
130
Businesses Nearby
Explore this area
Business Placement
Demographics for 71603, AR
30,236
Population
13,997
Households
2.2
Avg Household Size
43
Median Age
24%
College-Educated
90%
High-School Grad
167.8 sq mi
ZIP Area
180
Density / Sq Mi
$51,019
Median Household Income
$35,833
Median Earnings
$859
Median Rent
$116,000
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - 36-unit apartment complex with immediate cash flow potential.
Where is this apartment building located?
The property is located at 2123 South Blake Street Pine Bluff, AR.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Immediate cash flow with **34/36 units currently occupied**.; Upside potential through lease‑up of remaining units.; Strong rental demand in the area with consistent occupancy history.
