212 Gunter Street Street, Jackson, MS 39216

$1,099,000
12
BD
12
BA
6,624
SqFt
List Price
$1,099,000
Price Change
▼ $50,000 1714422438
MLS#
4075916
Bedrooms
12
Bathrooms
12
Full-baths
12
Sq. Ft
6,624
Acres
1
Subdivision
Fondren
Year Built
1981

Property Description

PLEASE DO NOT DISTURB TENANTS! Excellent opportunity to purchase a completely renovated 12 unit multi-family asset in the growing Fondren neighborhood of Jackson, MS. Boasting three buildings total, with 4 units per building, this asset presents an enticing prospect for savvy investors seeking both lucrative returns and a great long term growth location. The property includes off street parking for 15+ cars. All units are 1 bed 1 bath. Located roughly 2 blocks from the historic Capri Theatre, Highball Lanes, Walker's Drive-In, Rooster's, the nightlife, and all the fun stuff in Fondren. The property is located centrally just minutes from Belhaven University, JSU, Millsaps University, University Medical Center, St Dominic's Hospital, MS Children's Museum, MS Natural History Museum, MS Agriculture Museum, Baptist Hospital, and many of the states largest employers. The property is currently at 100% occupancy. This property has maintained high occupancy since ownership. Rents range from $800-$950/month per unit. Owner pays utilities for some units. Tenants with leases that have utilities included are charged a utility reimbursement fee of $150/month in addition to the monthly rent. There are no gas utility expenses with the property. Owner pays for water/sewer on all units. A dumpster is provided for waste disposal for residents. All units are independently metered. Originally built in 1982, the buildings were completely renovated in 2022-2023. All plumbing, electrical, and HVAC was replaced. All three building's roofs were replaced in 2022 with GAF architectural shingles. All units have been updated with butcher block counter tops, stainless steel appliances, new exterior/interior doors, new windows, new molding, deep stainless steel kitchen sinks, commercial grade vinyl flooring, new electric hot water heaters, new insulation, , new paint, new fixtures, new ceiling fans, new mini split AC/heating units, etc. 220 electric outlets and washer/dryer hookups were also added in each unit. Units have all electric appliances. average roughly 600 square feet per unit. The listing photos of the interior are representative of all units. Fencing was added around the entire property. 8 of the 12 units are completely fenced with 2 access gates for entry. 4 units are partially fenced. Extensive outdoor lighting around the property was also added. An in ground steel charcoal grill and picnic area was also installed in the courtyard as a common area/lounge space for all tenants to use. At full occupancy the property generates a gross income of $129,600 annually. This turnkey property represents more than just a real estate investment; it embodies a strategic opportunity to capitalize on the burgeoning Fondren neighborhood's growth trajectory. Whether you're seeking a lucrative cash flow investment or a promising buy-and-hold opportunity, this property warrants serious consideration. PLEASE DO NOT DISTURB TENANTS! Call the listing agent for more info or to schedule a showing.

Additional Information

Style
Traditional
Interior
See Remarks
Roof
Architectural Shingles
Stories
One
Heating
See Remarks
Cooling
See Remarks
Waterfront Description
None
Lot Description
Corner Lot, Fenced, Few Trees, Rectangular Lot, Dumpster
Water
Public, Separate Meters
Sewer
See Remarks
High School
Murrah
Middle School
Brinkley
Elementary School
Bailey Station

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Right Size Realty, LLC.