Court Street Townhomes 701 W Court St 18 Unit Apartment Building $1,541,166 CAD ($85,620 CAD/Unit) 6.86% Cap Rate Paragould, AR 72450

18 Unit apartment complex - Value Add
Investment Opportunity | 18-Unit Value-Add Apartment Community | Paragould, Arkansas
This well-maintained 18-unit multifamily community presents investors with an outstanding opportunity to acquire a stabilized asset with immediate upside in the growing Northeast Arkansas market. Built in 1972, the property has benefited from extensive capital improvements while still offering meaningful value-add potential through rental rate optimization.
Seventeen of the property's eighteen units were fully renovated in 2021, significantly reducing near-term capital expenditure requirements. In addition, new metal roofing has been installed throughout the property, providing long-term durability and minimizing future maintenance costs.
Designed for operational efficiency, tenants pay all utilities, while ownership is responsible only for landscaping, trash service, and exterior lighting, creating an attractive expense profile for investors. The property also includes an additional building on-site with the potential to be converted into a stand-alone 19th rental unit, offering a unique opportunity to increase revenue through future development.
Located in Paragould, Arkansas, one of Northeast Arkansas' most stable rental markets, the property benefits from a diverse employment base and strong regional demand. Just 20 miles from Jonesboro, residents enjoy convenient access to Arkansas State University, NEA Baptist Memorial Hospital, major manufacturing employers, and the region's premier shopping, dining, and healthcare amenities. This strategic location allows the property to capitalize on the economic strength of the Jonesboro metropolitan area while offering residents the affordability and community atmosphere of Paragould.
With significant recent renovations already completed, low owner-paid operating expenses, and clear upside through rental rate optimization and the potential addition of a 19th unit, this property represents an exceptional opportunity for investors seeking immediate cash flow with long-term appreciation potential.
Investment highlights
18-unit apartment community
Built in 1972
17 of 18 units fully renovated in 2021
New metal roofs throughout the property
Value-add opportunity through rental rate optimization
Potential to convert existing on-site building into a 19th rental unit
Tenants pay all utilities
Owner pays only landscaping, trash service, and exterior lighting
Low-maintenance investment with limited deferred capital needs
Approximately 20 miles from Jonesboro, Arkansas' regional employment, healthcare, education, and retail hub
Strong Northeast Arkansas rental market with consistent demand
*Offers with owner financing will not be considered