Camelot, Jackson - Exterior

2840 Robinson St. Jackson, MS
Camelot Apartments 287 Units

Strategic Holdings acquired this property on September 29, 2014 for $1,548,750.  The property required approximately $7,400,000 in renovations to cure all deferred maintenance and to reach market occupancy.  After stabilization, the property appraised for $9,350,000 with an estimated net operating income (NOI) of $651,000 per year. Currently the NOI is on pace for $735,000 per year.

DETAILS

Estimated Sales Price: $11,500,000
Acquisition Price: -$1,548,750
Costs: -$7,537,600
Estimated Profit: $2,413,650