Value-Add Multifamily Near Interstate 55 | 303 Genesis Ct
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Value-Add Multifamily Near Interstate 55 303 Genesis Ct
32 Apartment Units Online Auction Sale Yazoo City, MS 39194
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Investment Highlights
- Income-producing apartment community comprising 32 units across 8 two-story buildings on a professionally landscaped 4.32-acre lot.
- Community attracts commuting professionals, with I-55 and Highways 3 & 16 providing easy access to major employers and quality retail amenities.
- With a flexible mix of one-, two-, and three-bedroom apartments, the community is 88% occupied, and the remaining units are pre-leased.
- Yazoo City offers a sizable renter population, with 52% of the almost 20,000 residents currently renting their homes.
Executive Summary
303 Genesis Court, the River Oak Village, is a turnkey multifamily investment with a prime location in the scenic bedroom community of Yazoo City, Mississippi.
The community comprises eight two-story buildings across 4.32 acres originally constructed in 1991. Totaling 23,850 square feet, the garden-style apartment complex provides abundant on-site parking, a well-maintained brick façade, professionally landscaped grounds, and a flexible mix of one-, two-, and three-bedroom units. With 32 units currently 88% occupied, this cash-flowing property presents an additional value-add upside to fill the remaining vacancies and bring the community to its peak performance.
The River Oak Village is ideally situated less than 10 minutes from downtown Yazoo City, near large employers and quality retail amenities. The Interstate 55 retail and commuter corridor is just six minutes away, home to household name brands, including CVS, Walmart Supercenter, Dollar General, Pizza Hut, Burger King, Subway, KFC, and many more. Another vital commercial thoroughfare, State Route 3, is just five minutes away, providing residents with easy access to the city’s largest employers, which include the Federal Correction Complex – Yazoo City, Texas Eastern Transmission, Amco Manufacturing, and J & J Bagging.
Located less than an hour north of Jackson, Yazoo City is a close-knit commuter enclave on the banks of the Yazoo River. Its charming, walkable main street is lined with local restaurants and shops painted in vibrant pastels. Proximity to Mississippi’s capital and most populous city provides Yazoo City residents with quick access to urban amenities and major employers. This big city convenience is juxtaposed by the rich natural beauty of several nearby wildlife refuges and the Delta National Forest. Yazoo City is home to a population of approximately 20,000, with 52% currently renting their homes. This sizable renter pool has resulted in a consistent pipeline of new residents, providing long-term stability to a new owner.
Seize the chance to acquire a cash-flowing multifamily investment with leasing and operational upside at 303 Genesis Court, the River Oak Village.
Listed with Brian Brockman with Bang Realty, MS License #21542
The community comprises eight two-story buildings across 4.32 acres originally constructed in 1991. Totaling 23,850 square feet, the garden-style apartment complex provides abundant on-site parking, a well-maintained brick façade, professionally landscaped grounds, and a flexible mix of one-, two-, and three-bedroom units. With 32 units currently 88% occupied, this cash-flowing property presents an additional value-add upside to fill the remaining vacancies and bring the community to its peak performance.
The River Oak Village is ideally situated less than 10 minutes from downtown Yazoo City, near large employers and quality retail amenities. The Interstate 55 retail and commuter corridor is just six minutes away, home to household name brands, including CVS, Walmart Supercenter, Dollar General, Pizza Hut, Burger King, Subway, KFC, and many more. Another vital commercial thoroughfare, State Route 3, is just five minutes away, providing residents with easy access to the city’s largest employers, which include the Federal Correction Complex – Yazoo City, Texas Eastern Transmission, Amco Manufacturing, and J & J Bagging.
Located less than an hour north of Jackson, Yazoo City is a close-knit commuter enclave on the banks of the Yazoo River. Its charming, walkable main street is lined with local restaurants and shops painted in vibrant pastels. Proximity to Mississippi’s capital and most populous city provides Yazoo City residents with quick access to urban amenities and major employers. This big city convenience is juxtaposed by the rich natural beauty of several nearby wildlife refuges and the Delta National Forest. Yazoo City is home to a population of approximately 20,000, with 52% currently renting their homes. This sizable renter pool has resulted in a consistent pipeline of new residents, providing long-term stability to a new owner.
Seize the chance to acquire a cash-flowing multifamily investment with leasing and operational upside at 303 Genesis Court, the River Oak Village.
Listed with Brian Brockman with Bang Realty, MS License #21542
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Title and Insurance
Property Facts
| Sale Type | Investment | Building Class | B |
| Sale Conditions | Auction Sale | Lot Size | 4.32 AC |
| No. Units | 32 | Building Size | 23,850 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1991 |
| Apartment Style | Garden | Parking Ratio | 1.84/1,000 SF |
| Sale Type | Investment |
| Sale Conditions | Auction Sale |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 4.32 AC |
| Building Size | 23,850 SF |
| No. Stories | 1 |
| Year Built | 1991 |
| Parking Ratio | 1.84/1,000 SF |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
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About Vicksburg/Central Area
As the home of Mississippi State University, Starkville is a prototypical college town. The university enrolls more than 23,000 students, and total enrollment has increased over the past few years. Furthermore, the university employs roughly 4,500 individuals as either administrative or academic staff, further boosting the local rental demand pool.
Aside from Mississippi State, some of Starkville’s largest employers include healthcare and manufacturing operations such as Oktibbeha County Hospital, Flexsteel Industries, and Weavexx Corporation. The Cotton District is a major regional attraction, as well, and the neighborhood frequently draws visitors for its festivals and concerts.
Investors are drawn to the Starkville for the area’s stable demand drivers, which provides the region with a steady base of renters. In particular, students at Mississippi State provide an outsized share of rental demand for the area. As there are only about 5,000 dormitory beds at the university, the vast majority of students seek off-campus housing, boosting demand for market-rate properties throughout the area.
Sale Advisor
Sale Advisor
Steven Koutsantonis, Owner/Founder/Principal
(917) 903-4168
Contact
Steven Koutsantonis is the Founder of Cedar William, a premier NYC-based commercial real estate brokerage and investment firm. Since partnering with HCG Commercial Real Estate in 2016, Cedar William has facilitated transaction exceeding $100M in asset value with focus on value-add retail and office opportunities throughout the national United States. The firm's expertise spans from deal origination, underwriting, lending, due diligence, acquisition, property management, and strategic exit planning.
Moreover, Cedar William stands out in the NYC market with its top-tier brokerage services. Boasting 20 years of industry experience, we provide both tenant and landlord representation for sales and leasing throughout the New York metropolitan area.
Moreover, Cedar William stands out in the NYC market with its top-tier brokerage services. Boasting 20 years of industry experience, we provide both tenant and landlord representation for sales and leasing throughout the New York metropolitan area.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Sophy Cardenas
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 202567. Ten-X Auction Firm 1474; Arlene Richardson Auctioneer 1677
-
Steven Koutsantonis -
Cedar William | Commercial Real Estate
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Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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