212 Pullen Lake Road | Aberdeen, MS – 20 Units ASKING: $1,200,000 | 10.9% CAP (In-Place) Summary: I wanted to present you with an excellent investment opportunity located at 212 Pullen Lake Road, Aberdeen, MS — River Oak Village Apartments, a 20-unit, 100% occupied, garden-style complex offered for sale at a strong in-place yield. Below are the key investment highlights for your review: This fully renovated, cash-flowing multifamily asset offers stable income with upside through rent increases, lease repositioning, or conversion to Section 8 housing. Ideally located just off Highway 8 with immediate access to Highways 25 and 45, the property is surrounded by national retailers and serves a tight rental market with limited local multifamily inventory. Key Property Details: * Address: 212 Pullen Lake Road, Aberdeen, MS 39730 * Price: $1,200,000 * Cap Rate: 10.9% (In-Place) * Property Type: Multifamily – Garden-Style Apartments * Unit Count: 20 Units (All 2 Bed / 2 Bath) * Avg. Unit Size: 750 SF * Total SF: 15,000 * Lot Size: 3.93 Acres * Year Built / Renovated: 1979 / 2024 * Occupancy: 100% * Current Gross Operating Income: $198,180 * Expenses: $67,098 * Net Operating Income (NOI): $131,081 * Pro Forma Rent: $903/month/unit Property Features: * Renovations: 2024 updates include new interiors, flooring, kitchens, and bathrooms * HVAC: 50% new, remaining units 5 years old * Roof: Asphalt – 4 years old * Construction: Brick exterior / wood-frame * Laundry: New community laundry room (contract with Caldwell & Gregory) * Parking: 15 spaces (0.75 per unit) Location Highlights: * Connectivity: Adjacent to Highway 8; near Highways 25 & 45 * Nearby Retailers: McDonald’s, AutoZone, Subway, Dollar General, Food Giant * Local Dining: El Jefe, Topp’s Barbeque, North Side Ice Cream Shoppe * Surrounding Area: Quiet, residential neighborhood with low density Investment Highlights: * ? Cash-Flowing: Fully occupied asset with renovated interiors * ? Value-Add: Rent increase potential to ~$903/unit or Section 8 conversion * ? Limited Competition: Only 4% of housing stock within 10 miles is multifamily * ? Efficient Units: Large 2/2 floor plans with energy-efficient appliances * ? Stable Rental Market: Strong demand and minimal vacancy in submarket Market Overview – Aberdeen, MS: * Population: ~5,200 (City); ~34,100 (Monroe County) * Median Rent: ~$700/month * Rental Demographics: 36% renter population * Vacancy Rate: ~7% * Cost of Living: ~22% below national average * Historic Appeal: Over 200 properties listed on the National Register Investor’s Takeaway: River Oak Village Apartments presents a rare chance to acquire a stabilized, cash-producing multifamily asset in a market with strong fundamentals and minimal competition. With modernized units, upside in rents, and proximity to employers and national retail, this deal offers both short-term returns and long-term growth potential.