Multifamily Investment Opportunity
Contact us to view official Financials & Rent Rolls - NDA Required
Canton Estates presents a unique investment opportunity for the acquisition of a government-subsidized multi-family complex located in Canton, Mississippi. This off-market offering consists of 120 units with a mix of one to four-bedroom apartments spread across 15 well-maintained buildings. Please submit all offers to email@example.com .
Address: 388 Ricks Dr. Canton, MS 39046
Total Units: 120
Building Count: 15
1 Bedroom: 24 units at $557/month
2 Bedroom: 32 units at $663/month
3 Bedroom: 33 units at $745/month
4 Bedroom: 32 units at $895/month
YTD Total Income at Current Rent: $1,048, 519
YTD Total Expenses (Including Repairs & Maintenance) : $745,792
YTD Total CapEx 2023 : $111,681
Strong Government Support: As a HUD complex, Canton Estates benefits from consistent government subsidies, providing a stable income stream.
Diverse Unit Mix: With 120 units ranging from one to four bedrooms, the property caters to a variety of family sizes and tenant demographics.
On-Site Amenities: The complex includes a convenient on-site laundromat for tenant use.
Internal Management: Currently managed by a seller-owned property management firm, offering potential for seamless transition and operational continuity.
Value-Add Potential: Significant rental upside through strategic renovation and repositioning in line with 2024 HUD Fair Market Rents.
Below-Market Rents: Current rents are underpriced by 50.8% to 62.4%, allowing for immediate growth potential.
"YOUR #1 SOURCE FOR OFF MARKET INVESTMENT PROPERTIES, NATIONWIDE"
PROMISE LAND REALTY, LLC
All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. *Realtors add your fee on top*