141 Market St Monticello, AR 71655
64-unit apartment complex, value-add opportunity
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 137
Highlights
- Significant upside potential through market-rate rent increases following LIHTC decontrol, with current new leases commanding $200 more in rent.
- Convenient location near University of Arkansas at Monticello, Monticello Police Department, and Drew Memorial Health System.
- 100% occupancy as of July 1, 2024.
- Well-maintained asset with recent renovations including new roofs, flooring, HVAC units, and common area updates.
- Opportunity for further rent increases through light renovations.
- Prime location with proximity to Little Rock, Memphis, and Jackson.
Property Details for 141 Market St
- Property type
- Apartment buildings
- Class
- C
- Year Built/Renovated
- 2002/2023
- Buildings
- 13
- Stories
- 2
- Lot Size (sq. ft)
- 236,966 SF
- Units
- 64
Location Insight
- City
- Monticello
- County
- Drew
- State
- Arkansas
- Latitude
- 33.635166
- Longitude
- -91.8077523
Nearby Similar for Sale
FAQs
- What type of property is this?
- Apartment building - 64-unit apartment complex, value-add opportunity
- Where is the apartment building located?
- The property is located at 141 Market St Monticello, AR.
- What are key features of this property?
- This property features: Significant upside potential through market-rate rent increases following LIHTC decontrol, with current new leases commanding $200 more in rent.; Convenient location near University of Arkansas at Monticello, Monticello Police Department, and Drew Memorial Health System.; 100% occupancy as of July 1, 2024.
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