1906 W Matthews Ave Jonesboro, AR 72401
- Commercial real estate
Current Use by Public Records
- Stratford Manor Apartments / Apartment Building
Property Details for 1906 W Matthews Ave
- Property type
- Commercial real estate
Description
This exceptional value-add multifamily investment opportunity presents a 48-unit apartment complex located at 1906 W Matthews Ave, Jonesboro, AR 72401, in Craighead County. Priced at $4,400,000, this Class C property boasts a strong 92% occupancy rate, translating to a price per unit of $91,666.67. The complex comprises seven two-story buildings, offering a total of 48 units. Significant recent renovations enhance the property's appeal and potential for increased profitability. Improvements completed within the last three years include new roofs (three years old), updated flooring, fresh paint throughout, new countertops, some new appliances, several new HVAC systems and water heaters, and exterior repainting. This strategic location offers convenient access to major employers in Jonesboro, including Riceland, Arkansas State University (ASU), and St. Bernard's, ensuring consistent tenant demand. The property's strong occupancy and recent upgrades position it ideally for a savvy investor seeking immediate cash flow and long-term appreciation. This is a rare opportunity to acquire a well-maintained, high-occupancy apartment complex in a thriving Arkansas market. The property's solid foundation and recent renovations provide a strong base for future value enhancement and increased returns. This is a compelling investment opportunity not to be missed.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jonesboro
- County
- Craighead
- State
- Arkansas
- Longitude
- -90.7327339
- Latitude
- 35.8362853
