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Listed by Bill Pressly • Arnold Group Real Estate
$2,650,000
Est. payment /mo
8,000 SqFt
Active
Union St #1-11 Street Jonesboro, AR 72401
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Key Details
Property Type Condo
Sub Type Apartments
Listing Status Active
Purchase Type For Sale
Square Footage 8,000 sqft
Price per Sqft $331
MLS Listing ID 10128650
Style Other/See Remarks
Annual Tax Amount $5,670
Tax Year 2024
Lot Size 9,583 Sqft
Acres 0.22
Property Sub-Type Apartments
Property Description
Exceptional multi-family investment opportunity located in the Downtown Jonesboro Entertainment District. This fully occupied property features 11 loft-style residential units and 8 gated parking spaces, generating over $200,000 in gross annual income with potential for increased revenue. The property offers a unique loft living experience within the historic Massinelli's Dry Cleaning Building, combining character with modern amenities. Features include secure gated access, fire sprinkler system, tankless water heaters, and a rooftop patio for tenant only use. Situated in a strong rental market (approximately 52% renter-occupied), this asset provides immediate cash flow and long-term investment stability. One of the few downtown properties offering both loft-style units and dedicated gated parking. Nine 2 bed, 2 bath and Two 1 bed, 1 bath. Perfect for a 1031 Exchange. Financials and additional property details available upon request.
Location
State AR
County Craighead
Area E
Interior
Interior Features Balcony/Loft, Built-Ins, Ceiling Fan(s), Climate Control, Jet Tub, Other/See Remarks
Heating Electric
Cooling Central Air, Electric, Heat Pump(s)
Flooring Hardwood, Vinyl
Exterior
Exterior Feature Deck, Paved Streets
Roof Type Flat
Schools
Elementary Schools Jonesboro Magnet
High Schools Jonesboro High School
Others
Tax ID 0114418350200
NEARBY SCHOOL & BUSINESS
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