10473 Gorenflo Rd D'Iberville, MS 39540

Property Details for 10473 Gorenflo Rd

Property type

Commercial real estate

Description

This exceptional 40-unit Class A apartment building in D'Iberville, Mississippi, presents a compelling investment opportunity. Located near Interstate 10 and a thriving retail area, this three-story building boasts 100% occupancy. The property features a diverse rental mix, including long-term, short-term, and military temporary duty (TDY) rentals, maximizing income potential. Its R-4 zoning allows for flexibility in tenant selection and lease terms. The strategic location near Interstate 110 provides high visibility and accessibility, with nearly 80,000 vehicles passing daily. The property's proximity to a wide array of amenities, including retail, dining, healthcare, and educational institutions, enhances its appeal to residents. With a current asking price of $8,900,000, representing $220,000 per unit, and a 7.80% cap rate, this fully leased property offers immediate cash flow and significant long-term growth potential in a rapidly developing market. The property's strong performance and diverse tenant base make it an attractive investment for those seeking stable returns and appreciation in a prime Mississippi Gulf Coast location. The building's success is further evidenced by a waiting list for available units. This is a rare opportunity to acquire a high-performing, fully leased multifamily asset in a dynamic growth area. The property is zoned R-4 Multifamily Diwict, allowing for a variety of rental options.