1106 32nd Avenue, Gulfport, MS 39501

$400,000
Property Type: Res Income Multi-Fam Square Footage: 4,420 Status: Closed
Current Price: $400,000 List Date: 11/13/2019 Last Modified: 11/15/2024

Overview

Description

This well constructed four unit building is in the heart of the action in downtown Gulfport and closely located to major employers. The building recently underwent major improvements in 2018 and is fully leased with quality tenants. Being offered below replacement cost and located in a designated Opportunity Zone with the ability to raise rents, this is the perfect next investment. Owner holds r/e license. Please do not walk on property or talk with tenants. Call with questions or for more information.

Listing Details MLS# 3355588

General Property Information

# of Units Included in Sale
4
Approx H/C SqFt
4420
SqFt Source
Builder
List Price/SqFt
100.67
Year Built
2009
Year Built Source
Builder

Property Features

Structure Type: Quadruplex Owner Pays: Grounds Care; Insurance; Taxes Tenant Pays: All Utilities Appliances: Dishwasher; Oven; Range; Refrigerator Walls - Interior: Sheetrock Flooring: Vinyl Laundry Features: Washer Hookup; Other Cooling: Central Air; Electric Heating: Electric Sewer: Public Sewer Water Source: Public; Separate Meters; See Remarks Foundation Details: Slab Listing Terms: Cash; Conventional Parking Features: On Street; Parking Lot Community Features: Schools Nearby; Shopping Nearby; Other Waterfront Features: Beach Access; View Water Heater: Electric Lease Term: Other; See Remarks Available Documents: Marketing Package; Pro Forma

Address and Location Information

Street Number
1106
Street Name
32nd
Street Suffix
Avenue
County
Harrison
State
MS
Zip Code
39501
Parcel Number
0811l-03-021.100
Subdivision
Original Gulfport
N or S of I-10
S
N or S of CSX Railroad Track
S

Tax and Financial Information

Tax Annual Amount
3859
Flood Insurance Required?
No
Legal Description
LOTS 15 & 16 & S 14.2 FT OF LOT 17 INC BLK 199 ORIGINAL GULFPORT SEC 9-8-11

Status Change Info

Contract Date/Pending Date
2019-12-03
Closing Date
2020-01-06
Appraised SqFt
4420
Sold Price/SqFt
90.5

More Information

Waterfront Features

Waterfront
Yes
Beach Access
Yes
View
Yes

Unit 1

Full Baths
2
Rent
1000
Furnished
No
Description
Unit A

Unit 2

Full Baths
2
Rent
1000
Furnished
No
Description
Unit B

Unit 3

Full Baths
2
Rent
975
Furnished
No
Description
Unit C

Unit 4

Full Baths
2
Rent
1050
Furnished
No
Description
Unit D

Remarks & Miscellaneous

Public Remarks
This well constructed four unit building is in the heart of the action in downtown Gulfport and closely located to major employers. The building recently underwent major improvements in 2018 and is fully leased with quality tenants. Being offered below replacement cost and located in a designated Opportunity Zone with the ability to raise rents, this is the perfect next investment. Owner holds r/e license. Please do not walk on property or talk with tenants. Call with questions or for more information.

Structure Type

Quadruplex
Yes

Income & Expenses

Annual Net Income
39463
Gross Operating Income
48300

Sewer

Public Sewer
Yes

Water Source

Public
Yes
Separate Meters
Yes
See Remarks
Yes

Listing Terms

Cash
Yes
Conventional
Yes

Owner Pays

Grounds Care
Yes
Insurance
Yes
Taxes
Yes

Tenant Pays

All Utilities
Yes

Appliances

Dishwasher
Yes
Oven
Yes
Range
Yes
Refrigerator
Yes

Walls - Interior

Sheetrock
Yes

Flooring

Vinyl
Yes

Laundry Features

Washer Hookup
Yes
Other
Yes

Cooling

Central Air
Yes
Electric
Yes

Heating

Electric
Yes

Foundation Details

Slab
Yes

Exterior Construction/Siding

Other
Yes
See Remarks
Yes

Parking Features

On Street
Yes
Parking Lot
Yes

Community Features

Schools Nearby
Yes
Shopping Nearby
Yes
Other
Yes

Water Heater

Electric
Yes

Available Documents

Marketing Package
Yes
Pro Forma
Yes

Lease Term

Other
Yes
See Remarks
Yes
Listing Office: Moran
Listing Agent: Jeff M Young
Source MLS Verified
Last Updated: November - 15 - 2024
Information is deemed to be reliable but not guaranteed. Copyright 2022 MLS United, LLC.