Current Use by Public Records
- Residential income homes
Property Details for 3175 Robinson Rd
- Property type
- Residential income homes
- Property subtype
- Apartment buildings
Description
This exceptional value-add multifamily investment opportunity presents a compelling prospect for significant returns. Located at 3175 Robinson Rd, Jackson, MS 39209, in Hinds County, this 225-unit apartment complex, built in 1974 and situated on two stories, offers a blend of immediate income and substantial upside potential. The property boasts a strong net operating income (NOI) of $1,880,000, translating to an attractive 17.90% capitalization rate at an asking price of $10,500,000. Currently, over 80 units are occupied following recent renovations. Furthermore, 45 fully renovated units are vacant and ready for immediate lease-up. The remaining 100 units require renovation, presenting a clear path for value enhancement. The property features a gated community, a swimming pool, fitness center, sports court, playground, clubhouse, game room, and on-site maintenance and management. Unit amenities include air conditioning, washer/dryer hookups, high-speed internet access, and walk-in closets. The property is served by the Jackson Public School District. Water, trash removal, and sewer are included in the lease. Lease options are available for 12 months. This property presents a rare opportunity to acquire a substantial multifamily asset in a growing market with significant potential for increased profitability through strategic renovations and lease-up. The price per unit is $46,666.67. This is a Class C property.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jackson
- County
- Hinds
- State
- Mississippi
- Longitude
- -90.2401
- Latitude
- 32.3064
