Current Use by Public Records
- Apartment buildings
Property Details for 616 Bayou Ave
- Lot size
- 0.92 lot acres
- Property type
- Apartment buildings
Description
This exceptional 8-unit apartment building in Cleveland, Mississippi presents a compelling investment opportunity. Situated on a 0.92-acre lot, the property comprises four triplexes and one duplex, totaling 14 residential rental units. The property's strategic location near the Cleveland Country Club, Delta State University, and Downtown Cleveland ensures high tenant demand and occupancy rates. An added benefit is an available pad site, offering significant potential for future development and expansion of the property's income stream. The current projected annual income is $132,000, based on a monthly potential of $11,000. This translates to a strong return on investment, making this multifamily property an attractive addition to any portfolio. The property's solid construction and desirable location combine to create a stable and profitable investment. This is a rare opportunity to acquire a well-maintained, income-producing property in a growing Mississippi market. The existing units provide immediate cash flow, while the vacant pad site allows for future growth and increased profitability. Don't miss this chance to secure a prime piece of real estate in a thriving community.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cleveland
- County
- Bolivar
- State
- Mississippi
- Longitude
- -90.7281
- Latitude
- 33.7569
