2003 Belt Street, Jonesboro, AR 72401 (MLS # 10114215)
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Coldwell Banker Commercial is pleased to present The Vue on Regency Arms. This 29-unit apartment complex (all 1 bed / 1 bath units with an additional equipment owned on-site laundry) located a short distance from Arkansas State University, Riceland Foods, and Jonesboro Historic Downtown. This property is priced to sell with an out of state, motivated seller who is ready to focus on deals closer to his market area and is willing to let this property transfer at asking which is significantly lower than it was purchased for in July of 2022. Upgrades include new roofs, new vinyl siding, HVAC window units, new main sewer lines, and the full interior renovation of 19 units and partial renovations in the other 10. The property offers a unique opportunity for a savvy investor to increase value without the expense of CapEx simply by continuing to increase occupancy with lease up currently underway and climbing monthly. Below asking offers will not be reviewed. Owner finance or seller carry offers must be over asking to be reviewed per seller request.
| DAYS ON MARKET | 186 | LAST UPDATED | 7/8/2024 |
|---|---|---|---|
| TRACT | Cedar Heights | YEAR BUILT | 0 |
| COUNTY | Craighead | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| Elementary School | Jonesboro Magnet |
|---|---|
| Jr. High School | Annie Camp |
| High School | Jonesboro High School |
| PRICE HISTORY | |
| Prior to May 6, '24 | $1,650,000 |
|---|---|
| May 6, '24 - May 22, '24 | $1,450,000 |
| May 22, '24 - Jul 8, '24 | $1,350,000 |
| Jul 8, '24 - Today | $1,275,000 |
| ADDITIONAL DETAILS | |
| LOT | 0.56 acre(s) |
|---|---|
| LOT DESCRIPTION | Level |
| SEWER | Public Sewer |
| SUBDIVISION | Cedar Heights |
| TAXES | 1375 |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listed with Coldwell Banker Village Communities Inc
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