1505 West St Jackson, MS 39202

This exceptional investment opportunity presents the Seville Apartments, a 76-unit multifamily complex located at 1505 N West St, Jackson, MS 39202. The property, situated on a 1.68-acre lot (APN: 0000-4000-000), comprises two-story walk-up buildings constructed in 1969 and 1973, operating as a single economic unit under R5 Multifamily Residential zoning. The 47,480 square foot complex boasts a diverse unit mix including 64 one-bedroom, one-bathroom units; 8 two-bedroom, 1.5-bathroom units; and 4 two-bedroom, 1.5-bathroom townhome units. Each unit features a fully equipped kitchen and central HVAC. Resident convenience is enhanced by an on-site community laundry. Currently operating at 37% occupancy, this property presents significant upside potential for increased revenue. The asking price is $3,000,000, translating to $63.18 per square foot and $39,473.68 per unit. Note that this is a court-appointed sale subject to court approval. Offers are due September 18, 2024, at 4:00 PM CST. This is a rare chance to acquire a substantial multifamily asset in a growing Mississippi market. Detailed unit summaries and financial information are available upon request.