This work presents a study on a new uranium iron arsenide UFe5As3. By implementing Bi-flux synthesis, we were able to grow mm-sized single crystals of this compound, which show twinning. UFe5As3 is one of only two known uranium iron arsenides. It adopts a monoclinic, UCr5P3-type crystal structure (space group P21/m, Pearson symbol mP18, a = 7.050(2) Å, b = 3.8582(9) Å, c = 9.634(1) Å, β = 100.25(1)°). The magnetic susceptibility of UFe5As3 indicates it to be an antiferromagnet with TN = 47 K and μeff = 4.94 μB per formula unit, signaling that both U and Fe are likely magnetic in this material. The material appears to be anisotropic, with a small (likely ferromagnetic) spin reorientation transition around T = 29 K. The Sommerfeld coefficient γ0 = 135 mJ mol-1 K-2 suggests enhanced effective electron mass in UFe5As3, while electrical resistivity indicates metallic, Kondo-like behavior.