12-Unit Apartment
3101 Olivia Court, Jonesboro, AR 72404
For Sale
$2,400,000
Multi-Family, Jonesboro, AR
Property Size14,616 SF
Price / SF$164.20
Days on Market146
Property Features for 3101 Olivia Court
General Information
Property type
Property subtype
Property condition
Parking features
Patio and Porch features
Interior features
Exterior features
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Taxes and HOA fees
Tax Description
Legal Description
Building Details
Year built
Floors in Building
Number of units
Flooring type
Roof type
Buildings
Listing Agency:
Coldwell Banker Village Communities
(870) 935-7800
Listed By:
Kevin Kercheval · License AR PB00056142
(870) 926-3225
Added: Jun 18
Changed: Nov 2
Last Checked: Nov 10 at 7:06PM
MLS# 26024971
Copyright © 2026 Cooperative Arkansas Realtors Multiple Listing Service. 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.
This 12-unit apartment development at 3101 Olivia Court comprises three quadplex buildings and 14,616 square feet. The condominium ownership structure includes six two-bedroom, two-bath residences and six three-bedroom, two-bath residences. The two-bedroom units measure approximately 1,216 square feet, while the three-bedroom units provide approximately 1,220 square feet. All homes are newly constructed, have never been occupied, and are available for immediate leasing.
Interior finishes include luxury vinyl plank flooring, vaulted ceilings, granite countertops, open-concept living areas, quality cabinetry, and tiled primary-suite showers. Each residence includes a covered two-car carport, along with washer and dryer connections, a breakfast bar, ceiling fan, electric range, dishwasher, and patio space. The property is located in Jonesboro, Arkansas, within Craighead County, and carries a 2026 year built designation.
Interior finishes include luxury vinyl plank flooring, vaulted ceilings, granite countertops, open-concept living areas, quality cabinetry, and tiled primary-suite showers. Each residence includes a covered two-car carport, along with washer and dryer connections, a breakfast bar, ceiling fan, electric range, dishwasher, and patio space. The property is located in Jonesboro, Arkansas, within Craighead County, and carries a 2026 year built designation.
Key Highlights
- 12‑unit apartment development organized into three quadplex buildings
- Six 3‑bedroom, 2‑bath units and six 2‑bedroom, 2‑bath units
- 14,616 square feet total property size
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
$236,300
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Jonesboro, AR
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Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Twelve unoccupied residences offer two- and three-bedroom layouts with covered two-car parking for each home.
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‑unit apartment development organized into three quadplex buildings; Six 3‑bedroom, 2‑bath units and six 2‑bedroom, 2‑bath units; 14,616 square feet total property size
