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The Wesley Lofts 222 Union St 11 Unit Apartment Building $3,666,248 CAD ($333,295 CAD/Unit) 7.40% Cap Rate Jonesboro, AR 72401
Investment Highlights
- Gated downtown living. First class living in Downtown Jonesboro. Nice, safe, quiet and one block from Main Street.
Executive Summary
Exceptional Multi-Family Investment Opportunity – Downtown Jonesboro
Rare opportunity to acquire a fully occupied, income-producing multi-family property in the heart of the Downtown Jonesboro Entertainment District. This historic property features 11 loft-style residential units and 8 gated parking spaces, generating over $200,000 in gross annual income, with opportunities to further increase revenue.
Located in the iconic Massinelli's Dry Cleaning Building, the property blends historic character with modern conveniences. Residents enjoy secure gated access, a fire sprinkler system, tankless water heaters, and an exclusive rooftop patio with panoramic downtown views.
Property Highlights:
11 Residential Loft Units
9 Two-Bedroom, Two-Bath Units
2 One-Bedroom, One-Bath Units
8 Gated Parking Spaces
Fully Occupied with Strong Rental History
Gross Annual Income Exceeding $200,000
Secure Gated Access
Fire Sprinkler System
Tankless Water Heaters
Private Rooftop Patio for Residents
Prime Downtown Entertainment District Location
Jonesboro's rental market remains strong, with approximately 52% renter occupancy, making this an attractive, stable investment with immediate cash flow and long-term appreciation potential. Properties offering authentic loft-style living with dedicated gated parking are exceptionally rare in the downtown market.
An outstanding opportunity for investors seeking a high-quality asset or those completing a 1031 Exchange.
Financial statements, rent roll, and additional property information are available upon request.
Rare opportunity to acquire a fully occupied, income-producing multi-family property in the heart of the Downtown Jonesboro Entertainment District. This historic property features 11 loft-style residential units and 8 gated parking spaces, generating over $200,000 in gross annual income, with opportunities to further increase revenue.
Located in the iconic Massinelli's Dry Cleaning Building, the property blends historic character with modern conveniences. Residents enjoy secure gated access, a fire sprinkler system, tankless water heaters, and an exclusive rooftop patio with panoramic downtown views.
Property Highlights:
11 Residential Loft Units
9 Two-Bedroom, Two-Bath Units
2 One-Bedroom, One-Bath Units
8 Gated Parking Spaces
Fully Occupied with Strong Rental History
Gross Annual Income Exceeding $200,000
Secure Gated Access
Fire Sprinkler System
Tankless Water Heaters
Private Rooftop Patio for Residents
Prime Downtown Entertainment District Location
Jonesboro's rental market remains strong, with approximately 52% renter occupancy, making this an attractive, stable investment with immediate cash flow and long-term appreciation potential. Properties offering authentic loft-style living with dedicated gated parking are exceptionally rare in the downtown market.
An outstanding opportunity for investors seeking a high-quality asset or those completing a 1031 Exchange.
Financial statements, rent roll, and additional property information are available upon request.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$284,722
|
$35.59
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$284,722
|
$35.59
|
| Taxes |
$7,844
|
$0.98
|
| Operating Expenses |
$37,017
|
$4.63
|
| Total Expenses |
$44,861
|
$5.61
|
| Net Operating Income |
$239,861
|
$29.98
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $284,722 |
| Annual Per SF | $35.59 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $284,722 |
| Annual Per SF | $35.59 |
| Taxes (CAD) | |
|---|---|
| Annual | $7,844 |
| Annual Per SF | $0.98 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $37,017 |
| Annual Per SF | $4.63 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $44,861 |
| Annual Per SF | $5.61 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $239,861 |
| Annual Per SF | $29.98 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Loft Layout
Site Amenities
- Fenced Lot
- Gated
- Grill
- Roof Terrace
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 01-144183-50100 | Total Assessment | $181,822 CAD (2025) |
| Land Assessment | $13,713 CAD (2025) | Annual Taxes | $7,844 CAD ($0.98 CAD/SF) |
| Improvements Assessment | $168,109 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
01-144183-50100
Land Assessment
$13,713 CAD (2025)
Improvements Assessment
$168,109 CAD (2025)
Total Assessment
$181,822 CAD (2025)
Annual Taxes
$7,844 CAD ($0.98 CAD/SF)
Tax Year
2024
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The Wesley Lofts | 222 Union St
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