Multifamily Investment
For Sale
$2,000,000
1015 W Pine St, Hattiesburg, MS 39401
Cash-flowing multifamily with long-term corporate lease for 12 units and 24-hour notice showings.
Property Size2,320 SF
Price / SF$81.38
Days on Market124
Property Features for 1015 W Pine St
General Information
Standard status
Active
Size
2,320 SF
Property subtype
Residential Income
Lease Term
12 Months
Additional Details
Multifamily Units
32
Taxes and HOA fees
Annual Taxes
$12,530
Amenities
Central Air
Central
Electric Water Heater
Off Street
Building Details
Building Size
2,320 SF
Year Built
1972
Listing Agency:
REALTYcom, LLC
Listed By:
Paulette Egler · License #15308
(985) 264-5342
Source:
Evrealestate
Added: Jun 16
Changed: Oct 16
Last Checked: Oct 16 at 6:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REALTYcom, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property is being offered for sale as a cash-flowing residential income investment. The offering includes a corporate tenant lease covering 12 units, with the lease in place for more than 6 years. According to the public remarks, nothing needs to be changed or added by the current owner or a new owner in connection with the “Right Down Broadway” Overlay Project, as confirmed by the Hattiesburg Urban Development & Planning Division. Gross income, rent rolls, and total operating expenses are available to qualified buyers with a signed Confidentiality Agreement. Floorplans and photos can also be provided to qualified buyers under the same process.
The property is located at 1015 West Pine Street in Hattiesburg, Mississippi. The listing notes that this is the first time the property has been on the market in six years.
For buyers looking for a more stabilized tenant profile, the long-term corporate tenancy is positioned as the key operating factor in the current leasing structure. The seller’s remarks also indicate the current owners have maintained the existing contract in good standing throughout their ownership period. Please note that the property manager does not live on-site, and at least a 24-hour notice is required for showings. Owner financing and leaseback are not offered by the seller, while buyers who want deeper underwriting detail should be prepared to execute an NDA first.
The property is located at 1015 West Pine Street in Hattiesburg, Mississippi. The listing notes that this is the first time the property has been on the market in six years.
For buyers looking for a more stabilized tenant profile, the long-term corporate tenancy is positioned as the key operating factor in the current leasing structure. The seller’s remarks also indicate the current owners have maintained the existing contract in good standing throughout their ownership period. Please note that the property manager does not live on-site, and at least a 24-hour notice is required for showings. Owner financing and leaseback are not offered by the seller, while buyers who want deeper underwriting detail should be prepared to execute an NDA first.
Key Highlights
- 12‑unit multifamily property built in 1972
- Long‑term corporate tenant leasing all 12 units
- Lease has been in place for more than 6 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,437
Cap Rate
6.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,748,740
$2.7M
Cap Rate 7%
$1,963,386
$2.0M
Cap Rate 9%
$1,527,078
$1.5M
Market Conditions
NOI Build-Up for 24,576 SF
Gross rent
$271.3K $11.04/SF
− Vacancy
−$21.4K −$0.87/SF
EGI
$249.9K $10.17/SF
− OpEx
−$112.4K −$4.58/SF
NOI
$137.4K $5.59/SF
Area
Forrest County, MS
Vacancy
7.90%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,748,740
Cap Rate 7%
$1,963,386
Cap Rate 9%
$1,527,078
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.72M – $2.29M
NOI $137,437 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.04M
$3.54M – $4.72M
NOI $283,116 @ 7.0% cap · market cap 14.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
32
Residential units
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
Explore this area
Business Placement
Demographics for 39401, MS
43,183
Population
20,232
Households
2.1
Avg Household Size
32
Median Age
28%
College-Educated
89%
High-School Grad
188.9 sq mi
ZIP Area
229
Density / Sq Mi
$40,287
Median Household Income
$25,697
Median Earnings
$932
Median Rent
$120,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Cash-flowing multifamily with long-term corporate lease for 12 units and 24-hour notice showings.
Where is this apartment building located?
The property is located at 1015 W Pine St Hattiesburg, MS.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 12‑unit multifamily property built in 1972; Long‑term corporate tenant leasing all 12 units; Lease has been in place for more than 6 years
