Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
2015
Sq.Footage
8,000
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.
Features & Amenities
Interior
-
Other Interior Features
Pantry
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Cooling YN
YES
-
Cooling
Central Air, Electric
-
Heating YN
YES
-
Heating
Central, Electric
-
Pet friendly
N/A
Exterior
-
Garage
No
-
Construction Materials
Brick
-
Parking
Garage Door Opener
-
Pool
No
Area & Lot
-
Lot Size(acres)
0.22
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
-
Architectural Style
Other (see remarks)
Price
-
Sales Price
$2,650,000
-
Tax Amount
$5,670.73
-
Zoning
Multi Use
-
Sq. Footage
8, 000
-
Price/SqFt
$331
HOA
-
Association
No
School District
-
Elementary School
N/A
-
Middle School
N/A
-
High School
N/A
Property Features
-
Stories
2
-
New Construction
NO
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Location
County
Craighead
Elementary School
Middle School
High School
Listing Courtesy of Bill Pressly , Arnold Group Real Estate
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REALTOR®
Shery Ragsdale
Call Shery today to schedule a private showing.
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