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Lofts at 517 517 Washington Ave 28 Unit Apartment Building $2,500,000 ($89,286/Unit) 13% Cap Rate Greenville, MS 38701

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Executive Summary

The Lofts is a Luxury Mixed-Use 32-unit apartment building located at 517 Washington Ave, Greenville, MS. With an average in-place rent of $1,815, the property has a historical and proforma NOI of ~$325k. Asking is $2.5M, making this a 13% cap rate offering.
Loan not assumable and seller financing not available.

OM - The Lofts

Rent Roll - The Lofts

2025 P&L - The Lofts

Property Facts

Price	$2,500,000	Apartment Style	Low-Rise
Price Per Unit	$89,286	Building Class	C
Sale Type	Investment	Lot Size	1.00 AC
Cap Rate	13%	Building Size	44,908 SF
No. Units	28	No. Stories	3
Property Type	Multifamily	Year Built	1900
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$2,500,000
Price Per Unit	$89,286
Sale Type	Investment
Cap Rate	13%
No. Units	28
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	1.00 AC
Building Size	44,908 SF
No. Stories	3
Year Built	1900
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.