Pearl Drive Apartments | 409-412 Pearl Dr
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Pearl Drive Apartments 409-412 Pearl Dr
18 Unit Block of Flats £961,800 (£53,433/Unit) 6.50% Net Initial Yield Pearl, MS 39208
Investment 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.
- Buildings 409-410 were built in 1953. Building 411 was built in 1967 and building 412 was built in the mid-1970s and the roof was replaced in 2020.
- 4 buildings with brick exterior and professional landscaping.
- The property is close to major shopping centers, grocery stores, dining, and retailers.
- The 18 units are contained in four, one-story residential buildings.
- The property has surface level parking and is accessible on Pearl Drive. Property handles all utilities; no laundry hookups on-site.
Executive Summary
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.
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.
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Property Facts
| Price | £961,800 | Apartment Style | Low Rise |
| Price Per Unit | £53,433 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.81 AC |
| Net Initial Yield | 6.50% | Building Size | 8,400 SF |
| No. Units | 18 | Number of Floors | 1 |
| Property Type | Residential | Year Built/Renovated | 1953/2020 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | £961,800 |
| Price Per Unit | £53,433 |
| Sale Type | Investment |
| Net Initial Yield | 6.50% |
| No. Units | 18 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.81 AC |
| Building Size | 8,400 SF |
| Number of Floors | 1 |
| Year Built/Renovated | 1953/2020 |
| Opportunity Zone |
Yes |
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £0 | |
| Land Assessment | £0 | Total Assessment | £48,565 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£48,565
zoning
| Zoning Code | D-1 |
| D-1 |
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Pearl Drive Apartments | 409-412 Pearl Dr
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