1421 S Mulberry Street, Pine Bluff, AR
14.89% return
SP:
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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 statusActive
  • 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
  • RoofShingle
  • Water sourceCity water
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWall A/C

Property Financial Summary

  • Sale price $219,900
  • Estimated rehab 1 $0
  • Total investment $219,900
  • Type Proforma
  • Gross income (annually) $41,400
  • Operating expenses (annually) $8,661
  • Net income (annually) $32,739
  • Gross return 18.83%
  • Gross income (monthly) $3,450
  • Operating expenses (monthly) $722
  • Net income (monthly) $2,728
  • Net return 14.89%

Property Income & Expenses

  • 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.

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