New 12-Unit Apartment
For Sale
$2,400,000
3101 Olivia Court, Jonesboro, AR 72404
Multi-Family, Jonesboro, AR
Property Size14,616 SF
Price / SF$164.20
Days on Market127
Property Features for 3101 Olivia Court
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
30
Rooms
Bedroom 6, Bedroom 11, Bedroom 27, Bedroom 22, Bedroom 17, Bedroom 9, Bedroom 20, Bedroom 25, Bedroom 16, Bedroom 10, Bedroom 19, Bedroom 29, Bedroom 13, Bedroom 1, Bedroom 7, Bedroom 14, Bedroom 8, Bedroom 2, Bedroom 18, Bedroom 28, Bedroom 30, Bedroom 24, Bedroom 5, Bedroom 4, Bedroom 23, Bedroom 12, Bedroom 3, Bedroom 21, Bedroom 26, Bedroom 15
Interior features
Breakfast Bar, Ceiling Fan(s), Vaulted Ceiling(s)
Exterior features
Brick
Subdivision
Brendar Village
Lot features
Landscaped, Level
Elementary school
Nettleton
High school
Nettleton
Standard status
Active
APN
01-134041-14500
Size
14,616 SF
Taxes and HOA fees
Tax Description
3101 Units 1-4, 3021 Units 1-4, 3017 Units 1-4 in Brendar Village HPR; Craighead County, Jonesboro
Legal Description
3101 Units 1-4, 3021 Units 1-4, 3017 Units 1-4 in Brendar Village HPR; Craighead County, Jonesboro
Utilities
Heating system
Central
Cooling system
Central Air
Amenities
luxury vinyl plank flooring
vaulted ceilings
granite countertops
spacious open-concept living areas
tile showers in the primary suites
quality cabinetry
modern finishes throughout
Building Details
Floors in Building
1
Number of units
12
Flooring type
Vinyl
Roof type
Shingle
Architectural style
Other
Listing Agency:
Coldwell Banker Village Communities Inc · Coldwell Banker Real Estate
Listed By:
Kevin Kercheval
(870) 935-7800
Added: Jun 18
Changed: Oct 18
Last Checked: Oct 22 at 7:06PM
MLS# 10130460
Copyright © 2026 Northeast Arkansas Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Brendar Village is a 12-unit apartment development arranged across three quadplex buildings in Jonesboro, Arkansas. The completed condominium residences include six two-bedroom, two-bath units and six three-bedroom, two-bath units. Each home has a covered two-car carport, open-concept living space, vaulted ceilings, granite countertops, quality cabinetry, luxury vinyl plank flooring, and tile showers in the primary suite. Central heating and cooling serve the units, with brick exteriors and shingle roofs throughout.
All residences are vacant, have never been occupied, and are ready for leasing. The condominium ownership structure supports operation as a multifamily rental property while allowing individual unit sales as a future disposition option. Condominium association dues include blanket exterior insurance and common-area maintenance, reducing the owner's direct responsibility for those items. The development contains approximately 14,616 square feet in total.
All residences are vacant, have never been occupied, and are ready for leasing. The condominium ownership structure supports operation as a multifamily rental property while allowing individual unit sales as a future disposition option. Condominium association dues include blanket exterior insurance and common-area maintenance, reducing the owner's direct responsibility for those items. The development contains approximately 14,616 square feet in total.
Key Highlights
- 12 completed condominium units in three quadplex buildings
- Unit mix includes six 3‑bedroom, 2‑bath units and six 2‑bedroom, 2‑bath units
- 3‑bedroom units offer approximately 1,220 square feet; 2‑bedroom units offer approximately 1,216 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$87,677
Cap Rate
3.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,753,540
$1.8M
Cap Rate 7%
$1,252,529
$1.3M
Cap Rate 9%
$974,189
$974.2K
Market Conditions
NOI Build-Up for 14,616 SF
Gross rent
$170.1K $11.64/SF
− Vacancy
−$10.7K −$0.73/SF
EGI
$159.4K $10.91/SF
− OpEx
−$71.7K −$4.91/SF
NOI
$87.7K $6.00/SF
Area
Craighead County, AR
Vacancy
6.30%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,753,540
Cap Rate 7%
$1,252,529
Cap Rate 9%
$974,189
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,677 @ 7.0% cap · market cap 3.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.56M
$2.24M – $2.99M
NOI $179,122 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
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Business Placement
Demographics for 72404, AR
29,344
Population
12,518
Households
2.3
Avg Household Size
35
Median Age
34%
College-Educated
93%
High-School Grad
128.0 sq mi
ZIP Area
229
Density / Sq Mi
$67,000
Median Household Income
$40,373
Median Earnings
$938
Median Rent
$236,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - New condominium residences offer modern finishes, covered carports, and immediate leasing availability.
Where is this apartment building located?
The property is located at 3101 Olivia Court Jonesboro, AR.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: 12 completed condominium units in three quadplex buildings; Unit mix includes six 3‑bedroom, 2‑bath units and six 2‑bedroom, 2‑bath units; 3‑bedroom units offer approximately 1,220 square feet; 2‑bedroom units offer approximately 1,216 square feet
