212 Pullen Lake RdAberdeen, MS 39730

Property Details for 212 Pullen Lake Rd

Year built

1979

Property size (Sq ft)

15,000 SF

Property type

Apartment buildings

Description

River Oak Village Apartments, located at 212 Pullen Lake Rd, Aberdeen, MS 39730, offers a compelling investment opportunity. This 15,000 sq ft. multifamily property comprises 20 fully renovated, two-bedroom, two-bathroom units, each approximately 750 sq ft, within seven single-story buildings. Recently updated in 2024, the property boasts modern kitchens, energy-efficient appliances, and updated community laundry facilities. Situated on a 3.93-acre lot, it provides 15 parking spaces and enjoys convenient access to Highway 8, placing it near major routes, retail, and dining. The property's current gross operating income is $179,388, with a net operating income of $103,320. Pro forma projections indicate a potential gross operating income of $216,720 and a net operating income of $130,405. Aberdeen's strong rental market, with median rental prices around $700/month, and limited multifamily competition (only 4% of housing in the area is multifamily), make this a highly attractive investment. Nearby amenities include McDonald's, Subway, AutoZone, Food Giant, Western Union, Dollar General, El Jefe, Topp's Barbeque, and North Side Ice Cream Shoppe. The property features new asphalt roofs (installed 4 years ago) and new condensers. The 100% occupancy rate and recent renovations contribute to its strong cash flow and value-add potential. The property's location near Highways 25 and 45 further enhances its appeal to commuters.

Location Insight

City

Aberdeen

County

Monroe

State

Mississippi

Latitude

33.8364

Longitude

-88.571

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