531 E Oak Avenue, Jonesboro, AR 72401

Property Description

(531 E. Oak Ave.) is a 35-unit multifamily building and the largest asset of the portfolio. Built in 1986, the property consists of 16 1 Bd/1 Ba units and 19 2 Bd/1 Ba units. The property is located in the heart of downtown Jonesboro, within walking distance of Main St., which is home to a number of restaurants, bars, and entertainment. The subject property is across the street from St. Bernard's Medical Center, a 440-bed acute care hospital, employing approximately 4,328 workers. Offered at $2,450,000, with pricing indicators of $70,000/unit, a 6.77 GRM, and a 7.31% cap rate. This property is a part of a listing portfolio with two other apartment complexes. Please see MLS #10106159 and MLS #10106164. Owner reserves the right to sell properties together or separate.