102 North St Long Beach, MS 39560

Property Details for 102 North St

Year built

1988

Lot size

0.48 lot acres

Property size

4,228 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a well-maintained, four-unit apartment building situated on a sizable 0.48-acre lot in desirable Long Beach, Mississippi. The property consists of two duplexes, each boasting a total of 4,228 square feet, offering a compelling price per square foot of $124.88. Currently operating at 100% occupancy, this property provides immediate cash flow. Built in 1988 and renovated in 2008, the buildings are in excellent condition, featuring new roofs installed in 2021. The property includes a valuable 960 square foot storage shed located at the rear of the buildings, adding further utility and potential income streams. A perimeter fence enhances security and privacy. Conveniently located in a highly sought-after school district, this property is within walking distance of the beaches and minutes from the vibrant downtown area. The property is zoned for residential multi-family use and sits on a ground lease with an expiration date of November 30, 2024, currently month-to-month. This presents a unique opportunity for investors seeking a strong return in a thriving coastal community. The property's strong occupancy rate, desirable location, and recent improvements make it an attractive investment with significant upside potential. The combination of location, condition, and current occupancy makes this a truly exceptional opportunity.