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    23061 Road 262 Picayune, MS 39466

    For Sale
    $259,900

    Five-unit rental portfolio, high ROI potential.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a five-unit single-family rental portfolio nestled on a sprawling 5.95-acre lot in Picayune, Mississippi. The property, located at 23061 Rd 262, boasts four existing mobile home rentals, each updated to varying degrees in 2020. The units consistently maintain high occupancy rates, providing immediate cash flow. Beyond the existing rentals, the property offers significant upside potential. Approximately 3.5 acres remain undeveloped, presenting an opportunity to expand the portfolio with an additional unit. A substantial pole building, complete with a second-story storage room, adds further value. Existing concrete slabs further facilitate potential construction projects. Built in 1985, the property benefits from recent renovations and is situated amidst picturesque oak trees. This turnkey investment is poised to deliver strong returns, offering a rare combination of immediate income and future growth potential in a desirable location. The property's substantial size and existing infrastructure make it an ideal investment for both seasoned and aspiring real estate investors seeking a high-yield, low-maintenance portfolio. The property is located in Hancock County, Mississippi, zip code 39466.

    Property Features for 23061 Road 262

    General Information

    Property type
    Multifamily properties
    Lot Size
    259,182 SF

    Building Details

    Year Built/Renovated
    1985/2020
    Buildings
    5

    HighLights

    • $259,900 asking price.
    • Multifamily property consisting of a five‑building, single‑family rental portfolio.
    • Located on a 5.95‑acre lot in Picayune, Mississippi.
    • Built in 1985, renovated in 2020.
    • Broker co‑op available.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Restaurant Spa & Massage Hair Salon Nail Salon Hotel & Motel Food Market Grocery Store Convenience Store Pet Store Pet Supply Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Picayune
    County
    Hancock
    State
    Mississippi
    Longitude
    -89.5579343
    Latitude
    30.5129388

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    FAQs

    What type of property is this?
    Multifamily property - Five-unit rental portfolio, high ROI potential.
    Where is this multifamily property located?
    The property is located at 23061 Road 262 Picayune, MS.
    What is the asking price?
    The asking price for this property is $259,900.
    What are key features of this property?
    This property features: $259,900 asking price.; Multifamily property consisting of a five-building, single-family rental portfolio.; Located on a 5.95-acre lot in Picayune, Mississippi.
    Request Owner's contact information
    23061 Road 262 Picayune, MS 39466
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    Picayune, MS 39466
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    23061 Road 262 Picayune, MS 39466
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