225 Mcdowell Rd Jackson, MS 39204

McDowell Enclave, located at 225 W McDowell Rd, Jackson, MS 39204, presents a compelling value-add investment opportunity. This 80-unit apartment building complex, built in 1970 and extensively renovated in 2023, sits on a 3.65-acre lot. The property comprises nine, two-story buildings totaling 76,880 net rentable square feet, with unit sizes ranging from 896 to 1,189 square feet. Currently, the occupancy rate is 36.25%, with a projected occupancy date of November 11, 2024. Significant renovations totaling approximately $1 million have already been completed by the current owner. These improvements encompass interior upgrades such as LED lighting, LVP flooring, black appliances, fresh paint, updated hardware, HVAC systems, and water heaters. Exterior enhancements include new roofs, paint, siding, trim, masonry work, gutters, resealed and restriped parking lots, and gated access. The property's Class C designation and its current occupancy level offer a significant opportunity for a new owner to increase occupancy to market averages through further leasing efforts. This multifamily complex is situated in Hinds County and presents a strong potential for return on investment. The property is classified as a value-add investment.