1421 South Mulberry Street, Pine Bluff, AR

14.89% return

SP: $219,900

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Property Description

Insane investment!!

Great apartment complex. 6 units. Apartment building is turnkey and doesn't need any maintenance. Potential to increase rents. Low expenses. Tons of new development is coming to the area, including a big casino. Roof was replaced within the last couple of years. Will generate a 15%+ net return on investment.

Professional property management is available. Will not last, call today!

Property Information

Listing statusSold
Property typeMulti Family
Total units6
Total bedrooms12
Total bathrooms6
Building size4828 sq. ft.
Lot size0.4 acres
Year built1994

CountyJefferson County
SubdivisionPINE BLUFF LAND CO ADD
ConstructionBrick/Frame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingWall unit
CoolingWall A/C

Property Financial Summary

Sale price$219,900
Estimated rehab¹$0
Total investment$219,900

TypeProforma

Gross income (annually)$41,400
Operating expenses (annually)$8,661
Net income (annually)$32,739
Gross return18.83%

Gross income (monthly)$3,450
Operating expenses (monthly)$722
Net income (monthly)$2,728
Net return14.89%

Property Income & ExpensesMonthlyAnnual

Income

Unit 1: 2 bed / 1 bath$575/month$6,900/year
Unit 2: 2 bed / 1 bath$575/month$6,900/year
Unit 3: 2 bed / 1 bath$575/month$6,900/year
Unit 4: 2 bed / 1 bath$575/month$6,900/year
Unit 5: 2 bed / 1 bath$575/month$6,900/year
Unit 6: 2 bed / 1 bath$575/month$6,900/year
Total$3,450/month$41,400/year

Expenses

Property Taxes$124/month$1,485/year
Insurance$250/month$3,000/year
Lawn care$60/month$720/year
Electric bill$38/month$456/year
Maintenance reserve$250/month$3,000/year
Total$722/month$8,661/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.