1003 Ferrell Street, Jonesboro, AR 72401

Property Description

1003 Ferrell St. is 16-unit multifamily building built in 2008 and recently renovated in 2018. The property features 16 large 2 Bd/2 Ba apartments in the Scenic Hills neighborhood of Jonesboro. On average, the units at Ferrell Apartments command higher rents than the other buildings due to the size and unit mix. Ferrell Apartments also benefits from its location near a dense retail corridor with nearby retailers including Family Dollar, Dollar General, and Foodsmart. There is ample parking onsite to accommodate the tenants' needs. The property is offered at $1,300,000, with pricing indicators of $81,250/unit, a 7.38 GRM, and 6.93% cap rate. This property is a part of a listing portfolio with two other apartment complexes. Please see MLS #10106159 and MLS #10106163. Owner reserves the right to sell properties together or separate.