Income-Producing Five-Unit
406 Russell Avenue Unit 5 Long Beach, MS 39560
406 Russell Avenue Unit 5, Long Beach, MS, 39560
$632,000
For Sale
$632,000
Five-unit complex near the beach with strong rental income.
Property Size4,028 SF
Price / SF$156.90
Days on Market179
Property Features for 406 Russell Avenue Unit 5
General Information
- Standard status
- Active
- Size
- 4,028 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1974
Listing Agency
Premier Living Realty, LLC
(601) 750-3843
Listed by
Ajuanzie Ross Johnson · License #s-60717
(601) 750-3843
Source
Compass
Added: Jan 18 Checked: Jul 16 at 6:09 am
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 Premier Living Realty, LLC
Investment Insights
Based on property information with market context.
This well-maintained, income-producing five-unit complex is located a short distance from the beach and is not situated in a flood zone. The property is fully occupied and generates a total monthly rental income of $5,400, offering excellent cash flow. The front building consists of four spacious two-story units, each featuring one bedroom and one bathroom, along with large living areas and bedrooms. The second building is a single-story unit with two bedrooms, tile flooring throughout, and a screened back porch. The property has been well maintained. Each unit is equipped with a washer and dryer, as well as an icemaker in the freezer. The low-maintenance setup and the fact that all units are currently under lease make this a turnkey investment opportunity. This property presents an excellent opportunity for investors seeking strong and stable income in a desirable coastal location. The property size is 4,028 square feet.
Key Highlights
- Income‑producing five‑unit complex generating $5,400 monthly.
- Short stroll from the beach and not in a flood zone.
- Fully occupied, turnkey investment opportunity.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.5k | $11.04 |
| − Vacancy | −$3.5k | −$0.87 |
| EGI | $41.0k | $10.17 |
| − OpEx | −$18.4k | −$4.58 |
| NOI | $22.5k | $5.59 |
4,028 SF · lease $11.04/SF/yr · vacancy 7.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$321.8K
$281.6K – $375.4K
NOI $22,526 @ 7.0% cap · market cap 3.56%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$648.9K
$567.8K – $757.1K
NOI $45,424 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five-unit complex near the beach with strong rental income.
Where is this apartment building located?
The property is located at 406 Russell Avenue Unit 5 Long Beach, MS.
What is the asking price?
The asking price for this property is $632,000.
What are key features of this property?
This property features: Income‑producing five‑unit complex generating $5,400 monthly.; Short stroll from the beach and not in a flood zone.; Fully occupied, turnkey investment opportunity.
