Multifamily Investment Opportunity
Contact Eric Brinson 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.
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.
A&R Development & Acquisitions
Eric Brinson, REALTOR and General Contractor
*Note* You DO NOT have permission to market this property in anyway to anyone on any social media platforms, email, or direct to someone you know. You DO NOT have permission to mark up the property for your profit. If you know someone who may want to invest with us on this property contact email@example.com directly to discuss. This is an off market investment opportunity.