3923 State St Jackson, MS 39206
- Commercial real estate
- 2,206 SF
Current Use by Public Records
- Commercial real estate
Property Details for 3923 State St
- Year built
- 194
- Property size
- 2,206 SF
- Property type
- Commercial real estate
- APN
- 53-117
Description
This stabilized Class B apartment building, located in Jackson, Mississippi's vibrant Fondren District, presents a compelling investment opportunity. The property, situated at 3923 N State Street, is a single-story triplex totaling 2,206 square feet, built in 1940. It features three units: one 3-bedroom/1-bathroom, and two 1-bedroom/1-bathroom units. Currently boasting 100% occupancy, the property generates a substantial net operating income (NOI) of $20,830 annually, resulting in an attractive 8.50% cap rate. The asking price is $245,000, translating to $111.06 per square foot and $81,667 per unit. The Fondren District is known for its thriving culinary and arts scene, offering numerous restaurants and shops within walking distance. This triplex is part of a larger portfolio of five properties containing ten units, but is available for individual sale. Detailed financial information and an offering memorandum for the entire portfolio are available upon request. The property's strong occupancy history and prime location in a rapidly developing area make it an ideal addition to any investment portfolio. The Hinds County Assessor's Parcel Number (APN) is 53-117. Gross monthly rent is $2,425.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Jackson
- County
- Hinds
- State
- Mississippi
- Longitude
- -90.175808743851
- Latitude
- 32.344752098398
