70 Unit Multi-Family Portfolio

70 Unit Multi-Family Portfolio | Cleveland MS

Sands Investment Group is Pleased to Present Exclusively For Sale a 70 Unit Multi-Family Portfolio Asset Throughout the Cleveland, MS Region, the Heart of the Mississippi Delta. This Opportunity Includes 1 Free Market Property + 4 LIHTC Properties With Restrictions Being Lifted in 2-3 Years. Currently 91% Occupied, With 5 Tenants Planning to Move-In by Jan 2024, Increasing Occupancy to 99%, Providing a Stabilized Double Digit Cap Rate Opportunity.

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  • Home of the Grammy Museum
  • 1 Free Market Property + 4 LIHTC Properties (Restrictions Expiring in 2-3 Years)
  • Ownership Willing to Continue Managing the Portfolio After Sale
  • Low Maintenance Properties – Tenants Are Responsible For All Maintenance – Excluding Roof, Structure and Exterior
  • 14 Buildings Across 5 Property Sites
  • Strong Bones – Brick Structures
  • Currently 91% Occupied With 5 Tenants Planning to Move-In By Jan 2024
  • Current Annual Expenses of $132K (29% Expense Ratio)
  • Scheduled to Be 99% Occupied By January 2024 With an NOI of $355,000 (11.46% Cap Rate)
  • Current Rental Income of $453K, Scheduled to Increase to $488K (8% Increase) When Tenants Move-In
  • Price / Unit of $44,000 – Well Below Home Value of $106,000

In Cooperation With Sands Investment Group Mississippi, LLC – Lic. #22675 BoR: Andrew Ackerman – Lic. MS #22616

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