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    502 Dorsett Dr Indianola, MS 38751

    Sponsored
    For Sale
    $1,375,000

    24 Units, 1.2 Acres, High Demand

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 24-unit apartment complex situated on a 1.2-acre lot in Indianola, Mississippi, within Sunflower County. Located at 502 Dorsett Drive, zip code 38751 (33.4609167, -90.6417031), this multifamily property boasts recently completed renovations, transforming each unit from the studs up. Upgrades include brand new stainless steel appliances, granite and concrete countertops, fresh walls, tile flooring, and entirely new HVAC systems. The property's high-quality finishes are unmatched in the area, contributing to its exceptional appeal. Currently, only two of the 24 units are vacant, reflecting the strong rental demand in Indianola. This turnkey operation is primed for immediate income generation, offering a significant return on investment. The asking price for this lucrative property is $1,375,000. This property is classified as both an apartment building and for hunting/recreational use. The high demand for rental units and the scarcity of comparable properties in this condition make this a truly unique and compelling investment prospect. Don't miss this chance to acquire a thriving, renovated apartment complex in a high-demand market.

    Property Features for 502 Dorsett Dr

    General Information

    Property type
    Multifamily properties
    Lot Size
    52,272 SF

    Building Details

    Units
    24

    HighLights

    • 24‑unit apartment complex on a 1.2‑acre lot in Indianola, MS.
    • Recently renovated units with stainless steel appliances, granite/concrete countertops, new HVAC systems, and fresh finishes.
    • Located at 502 Dorsett Drive, Indianola, MS 38751.
    • Only two vacant units, indicating high occupancy and rental demand.
    • Turnkey operation with immediate income potential; asking price $1,375,000.
    • Classified as both apartment building and hunting/recreational use.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Indianola
    County
    Sunflower
    State
    Mississippi
    Longitude
    -90.6417031
    Latitude
    33.4609167

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    FAQs

    What type of property is this?
    Multifamily property - 24 Units, 1.2 Acres, High Demand
    Where is this multifamily property located?
    The property is located at 502 Dorsett Dr Indianola, MS.
    What is the asking price?
    The asking price for this property is $1,375,000.
    What are key features of this property?
    This property features: 24-unit apartment complex on a 1.2-acre lot in Indianola, MS.; Recently renovated units with stainless steel appliances, granite/concrete countertops, new HVAC systems, and fresh finishes.; Located at 502 Dorsett Drive, Indianola, MS 38751.
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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
    502 Dorsett Dr Indianola, MS 38751
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