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Richard Hilliard

richard@selectcoasthomes.com +1(228) 257-1857

$550,000

Est. payment - /mo

9 Beds

6 Baths

4,650 SqFt

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Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 4,650 sqft

Price per Sqft $118

MLS Listing ID 4157803

Bedrooms 9

Full Baths 6

Year Built 1940

Annual Tax Amount $4,309

Lot Size 10,018 Sqft

Acres 0.23

Lot Dimensions 980x1950

Property Sub-Type Apartment

Source MLS United

Property Description

**100 Elizabeth Street | Picayune, Mississippi** **Multifamily Investment Opportunity** This six-unit multifamily property presents an exceptional investment opportunity in the heart of downtown Picayune. Offering stable in-place cash flow, multiple income streams, and immediate upside potential, this asset is well-positioned for investors seeking long-term income and operational flexibility. Property Highlights * Six-unit multifamily property * Three 2-bedroom, 1-bath apartments * Three 1-bedroom, 1-bath apartments * Prime downtown corner location with dual street frontage * Adjoining parcel included for dedicated tenant parking * Municipal utilities * Located in Flood Zone X * Zoned C-2 Downtown Commercial Income-Producing Features * Established rental property with documented operating history * Diversified income through both traditional apartment rentals and an existing furnished corporate rental * Furnished corporate rental has generated income through Airbnb, VRBO, direct bookings, and corporate stays * Furnishings convey with the sale, allowing the next owner to continue operations immediately without additional capital investment * One vacant unit offers an identifiable opportunity to increase revenue through lease-up rather than speculative redevelopment Investment Advantages The property's downtown location provides convenient access to restaurants, retail, and local businesses, supporting both long-term residential leasing and furnished corporate rental demand. Market conditions indicate low vacancy rates, limited concessions, and strong rental demand, reinforcing the property's stable operating profile. With a balanced unit mix, multiple revenue sources, dedicated off-street parking, and a documented history of income production, this property offers investors a combination of current cash flow and near-term growth potential. Its stabilized operating performance is supported by actual rental income and recurring operating expenses, providing a strong foundation for long-term investment ownership.

Location

State MS

County Pearl River

Direction From I-59 take Exit 4 toward Picayune. Turn Left at the red light. Go down Memorial Blvd to Hwy 11. Take a right on Hwy 11. Go to Canal Street and turn left at the red light. Go over the railroad tracks and at the red light take a left on Main Street. The property is on the right on Elizabeth Street

Interior

Heating Central

Cooling Ceiling Fan(s), Central Air, Window Unit(s)

Exterior

Parking Features Gravel

Utilities Available Electricity Connected, Sewer Connected

Garage No

Private Pool No

Building

Lot Description City Lot, Corner Lot

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Tax ID 6-17-5-15-001-050-3900

Virtual Tour https://www.propertypanorama.com/100-W-Elizabeth-Street-Picayune-MS-39466/unbranded

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Listed by Real Broker, LLC.

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Richard Hilliard

+1(228) 257-1857

Broker Associate | License ID: B-24375

Broker Associate License ID: B-24375

100 Elizabeth Street Picayune, MS 39466

Richard Hilliard

Key Details

Location

Interior

Exterior

Building

Others

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