USAMSMccombMetes and Bounds302 Martin Luther King Drive

302 Martin Luther King Dr, Mccomb, MS

House

For Sale

Listed price in listed location currency (USD).

$350,000

560

MLS® 4164072

Overview

Key Facts

Type Multi Family

Levels Residential Income

Size 5000 sqft

Garage

Taxes $2,326

Days Active 6

Lot Size 0.06 Acres

Approx. Age 1954

Avg. Price Per Sqft $70

MLS® Number 4164072

Property Address: 302 Martin Luther King Drive, McComb, MS, 39648

Average square foot calculated using Size range provided by listing agent.

Description

Income-producing property with value-add potential! This renovated 6-unit apartment complex offers investors an opportunity to acquire an established rental property with major improvements already completed. Tucked back off the street, the complex provides a quiet, private setting with a diverse unit mix consisting of three 2-bedroom apartments, two 1-bedroom apartments, and one studio apartment. All six units have undergone extensive renovations, including updated electrical panels, plumbing, mini-split HVAC systems, kitchens, bathrooms, flooring, sheetrock, and fixtures throughout. These substantial improvements may help reduce some of the immediate capital expenditures often associated with older multifamily properties. The property also features an on-site laundry room equipped with 2 washers and 2 dryers for tenant convenience. Currently 5 of the 6 units are occupied, providing immediate rental income with an opportunity to increase occupancy by leasing the remaining unit. The property currently generates approximately $18, 000 in annual gross rental income, with additional value-add potential through increased occupancy, future rent optimization, and the possible renovation of additional space into rental units, subject to zoning, permitting, and building requirements. For an investor looking to expand a rental portfolio or enter the multifamily market, this property offers an attractive combination of existing cash flow, extensive completed renovations, multiple unit sizes, and future growth potential. Much of the heavy lifting has already been completed--leaving the next owner an opportunity to build upon an established property and further maximize its income-producing potential.

MLS® Number4164072

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1954

Basement

DrivewayGravel Drive, Common, On Site

Garage Spaces

HeatCentral

A/CCentral Air

Extras

Map

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