134 Skyland Dr - Multi-Family FOR SALE


Meridian, MS 39301
$1,250,000 USD
601-533-8832
134 Skyland Dr, Meridian, MS for Sale
$1,250,000 USD
Multi-Family - FOR SALE
1/1
null | 12% Cap Rate

134 Skyland Dr
Meridian, MS 39301


HIGHLIGHTS

  • Great location

OVERVIEW

This is a hidden gem of 7 Buildings on a 2 block cul de sac, housing 14 beautiful duplexes, all sitting on over 5 acres of land. 100% Occupancy, and high Retention Rates. Long Term tenants. 12 Month Leases in place. Fully managed out of state property with an online rent payment system. Most units are fully renovated and feature brand new HVAC units, brand new water heaters, and new roofs. Low Taxes and a top school district (Clarkdale). Currently below market rental rates with immediate pro-forma upside. Includes 2 acres approved by the City of Meridian for additional development. Located in Meridian, Mississippi 14 Units (12 are 2bed/1ba, 2 are 3bed/1ba) Residents pay all utilities Property Highlights Located on a quiet cul-de-sac, offering privacy and reduced traffic Amenities: Each unit offers washer/dryer hookups, energy-efficient appliances (including dishwasher), spacious layouts, and modern interior finishes Outdoor Features: Long driveways, large yards, and private porches provide residents with comfort and convenience Ownership: The property is absentee-owned, professionally managed, and maintained to high standards Community Appeal: Situated in a growing area with strong population trends, ensuring continued demand and long-term value Capital Improvements Completed Roof replacements and repairs Full HVAC unit & Water Heater replacements Septic tank pumping and installation of new field lines Interior upgrades including flooring, paint, fixtures, and appliances The property sits on 5 acres, with a portion still unused. The City of Meridian Site Planning Department has already begun discussions regarding approval for additional unit build-out. Current rents remain approximately 30% below market, presenting substantial upside potential. All units are on signed leases with renewal potential in 2026. SKYLAND LLC is committed to maintaining high-quality housing and maximizing long-term asset performance. With strong occupancy, proven stability, and significant room for rent growth and expansion, this property represents an exceptional investment opportunity. The combination of desirable location, modern amenities, and future development potential positions Skyland Drive as a high-performing asset for years to come.

FOR SALE DETAILS

PRICE

$1,250,000 USD

PRICE/SF

$89 USD /SF

# OF UNITS

14

PRICE/UNIT

$89,286

CAP RATE

12%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Skyland Duplexes

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.66 AC

LAND SF

159,272 SF

ZONING

-

APN/PARCEL ID

089-32-0-0000-000-00400,089-32-0-0000-000-00501,089-32-0-5810-001-00700,089-32-0-5810-001-00800

ASK ABOUT THIS PROPERTY

Tamer KassisSkyland, LLCMore Info
601-533-8832

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Tamer KassisSkyland, LLCMore Info
601-533-8832

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.