River Oak Village Apartments of Yazoo City

RESERVE NOT MET POST-AUCTION PROPERTY AVAILABLE

ASKING: $1,975,000 | 10% CAP

Located at 313 Genesis Court, Yazoo City, MS 39194, the River Oak Village Apartments is a fully occupied, income-generating multifamily property situated in a scenic bedroom community just an hour north of Jackson.​ This garden-style apartment complex comprises 32 units across 4.32 acres, with a well-maintained brick façade and modern amenities.​ The property offers a great opportunity for investors to acquire a stable asset with value-add potential by increasing rents and leveraging its strategic location near major employers and retail corridors.​

Property Overview:

• ​

  Address: 313 Genesis Court, Yazoo City, MS 39194

• ​

  Property Type: Multifamily, Garden-Style Apartments

• ​

  Unit Count: 32 Units

• ​

  Occupancy: 100% Occupied

• ​

  Total Lot Size: 4.32 Acres

• ​

  Year Built: 1991 (Renovated in 2024)

• ​

  Building Count: 8 Buildings

• ​

  Total Square Footage: 23,850 sq.​ ft.​

Financial Overview:

• ​

  Current Gross Operating Income (GOI): $179,388

• ​

  Net Operating Income (NOI): $103,320.39

• ​

  Proforma GOI: $216,720 (with potential rent increases)

• ​

  Projected NOI: $130,405.19

• ​

  Occupancy Rate: 100%

Property Features:

• ​

  Unit Sizes: One-bedroom (550 sq.​ ft.​), Two-bedroom (700 sq.​ ft.​), Three-bedroom (800 sq.​ ft.​)

• ​

  Floor Plan: A flexible mix of one-, two-, and three-bedroom units, offering a range of layouts to attract a broad tenant base.​

• ​

  Recent Upgrades: New roof, HVAC systems with 85% of units upgraded, and washer/dryer hookups in some units.​

• ​

  Parking: 46 parking spaces with a 0.70 parking ratio per unit.​

• ​

  HVAC: Central air with new extra condensers on site.​

Location Highlights:

• ​

  Proximity: Convenient access to Interstate 55 and State Route 3, offering connectivity to Jackson and other key areas.​

• ​

  Nearby Retailers: Walmart Supercenter, Dollar General, Pizza Hut, Subway, KFC, and other household names.​

• ​

  Local Employers: Federal Correction Complex – Yazoo City, Texas Eastern Transmission, and Amco Manufacturing are major employment drivers.​

Market Overview:

• ​

  Population: Yazoo City has a population of approximately 11,000, with Yazoo County’s total population around 28,000.​

• ​

  Rental Market: Strong demand for affordable housing, with average rents at River Oak Village around $789.84/month.​

• ​

  Economic Drivers: The local economy is driven by manufacturing, retail, and proximity to major employers, ensuring a steady demand for rental properties.​

Investor's Takeaway:

The River Oak Village Apartments represent a well-maintained, fully occupied asset with stable cash flow and clear opportunities for rent growth.​ Investors looking for a stable, income-generating property with potential for long-term value appreciation will find this property an excellent addition to their portfolio.​

• ​

  Stable, Cash-Flowing Asset: Fully leased with a strong rental history, providing reliable income for investors.

• ​

  Value-Add Potential: With room to increase rents or convert units to Section 8 housing, this property offers a clear path to enhancing income.

• ​

  Low Competition: River Oak Village is one of the few large apartment complexes in the area, positioning it as a dominant player in the local rental market.