Price Reduction
Address
212 Gunter Street Street, Jackson, MS
Price
$ 1,099,000
Property Attributes
- MLS#4075916
- TypeMulti-Family
- CountyHINDS
- CityJackson
- NeighborhoodFondren
- Zip39216
- StyleTraditional
- Year Built1981
- Taxes$ 7364
- Price$ 1,099,000
- Bedrooms12
- Full Bathrooms12
- Half Bathrooms0
- Sqr Footage6624
- Lot Size1 Acres
Data Source:
MLS United
Property Description
PLEASE DO NOT DISTURB TENANTS! Excellent opportunity to purchase a completely renovated 12 unit multi-family asset in the growing Fondren neighborhood of Jackson, MS. Boasting three buildings total, with 4 units per building, this asset presents an enticing prospect for savvy investors seeking both lucrative returns and a great long term growth location. The property includes off street parking for 15+ cars. All units are 1 bed 1 bath. Located roughly 2 blocks from the historic Capri Theatre, Highball Lanes, Walker's Drive-In, Rooster's, the nightlife, and all the fun stuff in Fondren. The property is located centrally just minutes from Belhaven University, JSU, Millsaps University, University Medical Center, St Dominic's Hospital, MS Children's Museum, MS Natural History Museum, MS Agriculture Museum, Baptist Hospital, and many of the states largest employers.The property is currently at 92% occupancy. One unit currently vacant. This property has maintained high occupancy since ownership. Rents range from $800-$950/month per unit. Owner pays utilities for some units. Tenants with leases that have utilities included are charged a utility reimbursement fee of $150/month in addition to the monthly rent. There are no gas utility expenses with the property. Owner pays for water/sewer on all units. A dumpster is provided for waste disposal for residents. All units are independently metered.Originally built in 1982, the buildings were completely renovated in 2022-2023. All plumbing, electrical, and HVAC was replaced. All three building's roofs were replaced in 2022 with GAF architectural shingles. All units have been updated with butcher block counter tops, stainless steel appliances, new exterior/interior doors, new windows, new molding, deep stainless steel kitchen sinks, commercial grade vinyl flooring, new electric hot water heaters, new insulation, , new paint, new fixtures, new ceiling fans, new mini split AC/heating units, etc. 220 electric outlets and washer/dryer hookups were also added in each unit. Units have all electric appliances. average roughly 600 square feet per unit. The listing photos of the interior are representative of all units.Fencing was added around the entire property. 8 of the 12 units are completely fenced with 2 access gates for entry. 4 units are partially fenced. Extensive outdoor lighting around the property was also added. An in ground steel charcoal grill and picnic area was also installed in the courtyard as a common area/lounge space for all tenants to use. At full occupancy the property generates a gross income of $129,600 annually. This turnkey property represents more than just a real estate investment; it embodies a strategic opportunity to capitalize on the burgeoning Fondren neighborhood's growth trajectory. Whether you're seeking a lucrative cash flow investment or a promising buy-and-hold opportunity, this property warrants serious consideration. PLEASE DO NOT DISTURB TENANTS! Call the listing agent for more info or to schedule a showing.
| Elementary School | Middle School | High School |
|---|---|---|
| Bailey Station Elementary School | Brinkley Middle School | Murrah High School |
| Price History | |
|---|---|
| 4/8/2024 | Listed $1,149,000 |
| 4/29/2024 | 5% - $1,099,000 |
General Features
| Sewer | See Remarks |
|---|---|
| Heating | See Remarks |
| Cooling | See Remarks |
| Utilities | See Remarks |
| Roof | Architectural Shingles |
| School District | Jackson Public |
| HOA | No |
| Tenant Pays | See Remarks |
| Architctural Style | Traditional |
| New Construction | No |
| Subdivision | Fondren |
| County | Hinds |
| Levels | One |
| Property Type | C |
| Owner Pays | See Remarks |
| Accessibility Features | No |
| Tax Year | 2024 |
| Parcel Number | 56-44 |
| Status | Active |
| Year Built Source | Public Records |
| Year Built | 1981 |
| City | Jackson |
| Homestead Y/N | No |
| Community Of | N/A |
| Legal Description | LOTS 3 4 & 5 BLK Q INDUSTRIAL HGTS N J |
| High School | Murrah |
| Elementary School | Bailey Station |
| Elementary School 2 | Galloway |
| Structure Type | Multi Family |
| Street Name | Gunter Street |
| Flood Insurance Required? | No |
Interior Features
| Interior Features | See Remarks |
|---|---|
| Flooring | Luxury Vinyl |
| Furnished Y/N | No |
| Total Floors | 1 |
| SqFt Source | Public Records |
| List Price/SqFt | 165.91 |
Exterior Features
| Exterior Features | Built-in Barbecue,Courtyard,Landscaping Lights,Outdoor Grill,Uncovered Courtyard |
|---|---|
| Lot Features | Corner Lot,Dumpster,Fenced,Few Trees,Rectangular Lot |
| Water Source | Public,Separate Meters |
| WaterFront Features | None |
| Foundation | Slab |
| MLS Identifier | 20210408200911641907000000 |
| Street Number | 212 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 39216
Price
Taxes
Visits
Year Built
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