409-412 Pearl Dr - Apartments FOR SALE


Pearl, MS 39208
$1,200,000 USD
601-981-6800
409-412 Pearl Dr, Pearl, MS for Sale
$1,200,000 USD
Apartments - FOR SALE
1/22
null | 7.2% Cap Rate

409-412 Pearl Dr
Pearl, MS 39208


HIGHLIGHTS

  • Located in a desirable area off of Hwy 80 in Pearl, MS. The property is 1/2 a mile from Pearson Road and 2 miles from I-20.
  • 18 Units
  • Renovated in 2020
  • Located in the vibrant Pearl area
  • 94% occupancy rate
  • Strong rental history and income potential

OVERVIEW

NAI UCR Propeties is proud to present this 18-unit multi-family property at 409-412 Pearl Drive, Pearl, MS for sale. This property offers an excellent investment opportunity in a prime location. Comprising four buildings, the property includes 1-bedroom, 1-bath studio-style units. Buildings 409-410 were constructed in the mid-1950s, Building 411 in 1967, and Building 412 in the mid-1970s, with its roof replaced around 2020. The property is conveniently situated near major shopping centers, local attractions, Rankin County school district and within easy reach of the airport, making it an attractive option for renters seeking affordability and accessibility. The property is self-managed, with all utilities handled by the owner, and has no laundry hookups on-site. Seventeen of the 18 units have been upgraded, though additional improvements could further enhance their value. This is an ideal opportunity for an investor seeking a manageable property with excellent upside potential. * Owner holds an active RE license and authorized to do business in the state of MS.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$143 USD /SF

# OF UNITS

18

PRICE/UNIT

$66,667

CAP RATE

7.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pearl Drive Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1953

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.81 AC

LAND SF

35,405 SF

ZONING

D-1

APN/PARCEL ID

E08N-000002-00140,E08N-000002-00150,E08N-000002-00160,E08N-000002-00170

ASK ABOUT THIS PROPERTY

Micah McCulloughNAI UCR PropertiesMore Info
601-981-6800

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Micah McCulloughNAI UCR PropertiesMore Info
601-981-6800

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.