2005 8Th St Ocean Springs, MS 39564
- Residential income homes
- 1,767 SF
- 0.26 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 2005 8Th St
- Year built
- 2006
- Lot size
- 0.26 lot acres
- Property size
- 1,767 SF
- Property type
- Residential income homes
- APN
- 0-54-05-583.000
Description
This exceptional investment opportunity presents a 2-unit duplex located at 2005 S 8th St, Ocean Springs, MS 39564. Built in 2006, this Class B property boasts 1,767 square feet situated on a 0.26-acre lot (APN: 0-54-05-583.000). Currently operating at 100% occupancy (as of August 31, 2024), the property generates a strong NOI of $16,000, with a pro-forma NOI projected at $20,000, representing a 7.11% cap rate and a pro-forma cap rate of 8.89%. The asking price is $225,000, translating to $127.33 per square foot and $112,500 per unit. This value-add opportunity is situated in the desirable Gulf Park Estates neighborhood, offering convenient access to Ocean Springs Public Schools and proximity to Lake Mars Boat Launch. The property is zoned residential and features one single-story building. This represents a compelling investment in a thriving coastal Mississippi community known for its rich history, artistic charm, and family-friendly atmosphere. The property's strong performance and potential for increased profitability make it an attractive addition to any investment portfolio. Serious inquiries only.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ocean Springs
- County
- Jackson
- State
- Mississippi
- Longitude
- -88.7569609
- Latitude
- 30.3706261
