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    212 Pullen Lake Rd Aberdeen, MS 39730

    For Sale
    Contact for pricing

    20 Units, Fully Renovated, High Occupancy

    Property size:
    15,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    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.

    Property Features for 212 Pullen Lake Rd

    General Information

    Property type
    Multifamily properties
    Square Feet
    15,000 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1979/2024
    Buildings
    7
    Stories
    1
    Units
    20

    HighLights

    • Strong Cash Flow: Fully leased, renovated apartments in a stable market.
    • Value‑Add Opportunity: Potential for rent increases or Section 8 conversion.
    • Dominant Market Position: River Oak Village is a major multifamily community (largest within 10 miles) in an area with low multifamily housing stock (4%).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Spa & Massage Hair Salon Nail Salon Clothing Store Auto Repair Shop Pharmacy Wholesale Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Aberdeen
    County
    Monroe
    State
    Mississippi
    Longitude
    -88.57097
    Latitude
    33.8364391

    Nearby Similar for Sale

    • $200,000
      5,193 SF

      Established Tire Store Opportunity

      Profitable tire business with land and building in Aberdeen, MS.
      413 Ms 145 N, Aberdeen, MS 39730
      View Details

    FAQs

    What type of property is this?
    Multifamily property - 20 Units, Fully Renovated, High Occupancy
    Where is this multifamily property located?
    The property is located at 212 Pullen Lake Rd Aberdeen, MS.
    What are key features of this property?
    This property features: Strong Cash Flow: Fully leased, renovated apartments in a stable market.; Value-Add Opportunity: Potential for rent increases or Section 8 conversion.; Dominant Market Position: River Oak Village is a major multifamily community (largest within 10 miles) in an area with low multifamily housing stock (4%).
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    212 Pullen Lake Rd Aberdeen, MS 39730
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