ASKING: $4,225,000 | 9.98% CAP Investment Opportunity Overview: We are pleased to present an exceptional opportunity to invest in The River Bend Apartments, located at 501 Cypress Lane, Greenville, MS. This property offers investors the chance to acquire a well-maintained multifamily complex with strong cash flow and further value-add potential. Loopnet DD Portal: https://www.loopnet.com/Listing/501-Cypress-Ln-Greenville-MS/33121232/ Key Property Details: * Property Address: 501 Cypress Lane, Greenville, MS 38701 [Google Street View Link] * Purchase Price: $4,225,000 * Cap Rate: 9.98% * Property Type: Multifamily (60 Units) * Occupancy: 96.67% occupied * Unit Mix: 35 one-bedroom units (780 sq. ft.) and 24 two-bedroom units (975 sq. ft.) * Year Built/Renovated: 1972 / 2024 * Total Square Footage: 54,345 sq. ft. * Land Size: 8 acres * Gross Operating Income (GOI): $656,040 * Expenses: $222,662 (current) * Net Operating Income (NOI): $421,732 (current) Investment Highlights: * Strong Location: River Bend Apartments is located near Highway 278 and downtown Greenville, providing easy access to major retail amenities, including Walmart, Lowe’s, Chick-fil-A, and more. The property is also close to major job centers such as the Delta Health System Medical Center and Washington County Convention Center. * Recent Upgrades: The complex has undergone significant renovations, including a new roof in 2020 and unit updates. * Amenities: The property offers on-site laundry, a swimming pool, a clubhouse, and controlled access, enhancing its appeal to renters. * Value-Add Potential: With several vacant units awaiting renovation, this property presents a value-add opportunity. Additionally, rental rates have room for growth, offering the potential to increase cash flow. * Stabilized Cash Flow: The property is currently 97% occupied and generates stable income. Its location and amenities ensure continued demand. * Section 8 Housing Potential: The property’s unit sizes and rent structures make it a candidate for Section 8 housing conversion, which could provide additional rental security and income stability. * AIRBNB: Unit 2103 Projected Monthly Additional Income of 6k Per Month.