Pine Bluff Multifamily Investment
For Sale
$1,900,000
3200 S Olive Street, Pine Bluff, AR 71603
MULTI_FAMILY - Pine Bluff, AR
Property Size28,160 SF
Price / SF$67.47
Days on Market314
Property Features for 3200 S Olive Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Directions
S Olive St. Corner of W. 32nd Ave. - 5 minutes from Walmart.
Subdivision
PINE BLUFF (SOUTH CENTRAL)
Standard status
Active
Size
28,160 SF
Taxes and HOA fees
Tax Description
To be determined
Tax Annual Amount
15000
Legal Description
To be determined
Building Details
Year built
1982
Floors in Building
2
Listing Agency:
Resource Realty
(501) 214-8888
Listed By:
Della Wallace
(850) 400-2299
Added: Sep 25, 2025
Changed: May 21
Last Checked: Aug 4 at 2:06AM
MLS# 25038610
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.
Investment Insights
Based on property information with market context.
This 22-unit apartment complex in Pine Bluff, Arkansas, presents a fantastic investment opportunity. Currently, the property is 86% occupied, with 19 units rented and generating strong rental income. Situated on a spacious lot, the property offers room for expansion, with plumbing already in place for two additional buildings. This provides a value-add opportunity for investors seeking to increase unit count and maximize returns. The property contains 28,160 square feet. With consistent occupancy, growth potential, and a convenient location, this complex is suitable for both experienced investors and those looking to expand their portfolio.
Key Highlights
- Strong rental income with 86% occupancy (19 of 22 units rented).
- Value‑add opportunity: Plumbing infrastructure in place for two additional buildings, allowing for expansion.
- Well‑maintained 22‑unit apartment complex.
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 | $337.9k | $12.00 |
| − Vacancy | −$33.1k | −$1.18 |
| EGI | $304.8k | $10.82 |
| − OpEx | −$137.2k | −$4.87 |
| NOI | $167.6k | $5.95 |
28,160 SF · lease $12.00/SF/yr · vacancy 9.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.39M
$2.10M – $2.79M
NOI $167,642 @ 7.0% cap · market cap 8.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.22M
$6.32M – $8.42M
NOI $505,382 @ 7.0% cap · market cap 26.60%
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 - 22-unit apartment complex with expansion potential in Pine Bluff, AR.
Where is this apartment building located?
The property is located at 3200 S Olive Street Pine Bluff, AR.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Strong rental income with 86% occupancy (19 of 22 units rented).; Value‑add opportunity: Plumbing infrastructure in place for two additional buildings, allowing for expansion.; Well‑maintained 22‑unit apartment complex.
