Log In/Sign Up
Your email has been sent.
3811 Mosley Ave 24 Unit Apartment Building $3,100,000 ($129,167/Unit) 7% Cap Rate Jackson, MS 39206
Investment Highlights
- Completely rehabbed rent ready and currentky in lease up.
Executive Summary
The subject property is recently renovated and will be fully occupied within thirty days due to
overwhelming market demand. The subject property has twenty-five renovated apartments with
market rents of $1,200 per unit, resulting in an annual gross income of $360,000. We have
conservatively estimated the vacancy rate at 10%, indicating an effective gross annual income of
$324,000. We have very conservatively estimated expenses at 35% of effective gross income,
even though everything is fully renovated. The estimated annual net income is $210,600. We
have applied a 7% capitalization rate on this investment-grade property to estimate the value at
$3,000,000. Please note that the below-listed comparable sales support the subject property’s
asking price. Additionally, the cost to build the new property would be more than $6,000,000,
not counting the land, which serves as a barrier to competition from new development
overwhelming market demand. The subject property has twenty-five renovated apartments with
market rents of $1,200 per unit, resulting in an annual gross income of $360,000. We have
conservatively estimated the vacancy rate at 10%, indicating an effective gross annual income of
$324,000. We have very conservatively estimated expenses at 35% of effective gross income,
even though everything is fully renovated. The estimated annual net income is $210,600. We
have applied a 7% capitalization rate on this investment-grade property to estimate the value at
$3,000,000. Please note that the below-listed comparable sales support the subject property’s
asking price. Additionally, the cost to build the new property would be more than $6,000,000,
not counting the land, which serves as a barrier to competition from new development
Property Facts
| Price | $3,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $129,167 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.76 AC |
| Cap Rate | 7% | Building Size | 23,692 SF |
| Sale Condition | High Vacancy Property | Average Occupancy | 0% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 1.48/1,000 SF |
| Price | $3,100,000 |
| Price Per Unit | $129,167 |
| Sale Type | Investment |
| Cap Rate | 7% |
| Sale Condition | High Vacancy Property |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.76 AC |
| Building Size | 23,692 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 1974 |
| Parking Ratio | 1.48/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 24 | - | 1,020 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Minimal public transit
10/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 0425-0033-001 | Improvements Assessment | $39,021 |
| Land Assessment | $6,300 | Total Assessment | $45,321 |
Property Taxes
Parcel Number
0425-0033-001
Land Assessment
$6,300
Improvements Assessment
$39,021
Total Assessment
$45,321
1 of 2
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Asset Business Group, LLC
3811 Mosley Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.