PRICE IMPROVEMENT — $244,900, SOLD AS-IS. Fully leased 3-unit income property in the heart of Long Beach producing $2,900 per month — $34,800 annually — with all three units occupied and under lease at closing. At the new price that's a 7.0 gross rent multiplier and a 9.68% cap rate, calculated on actual taxes of $2,764 and actual insurance of $3,814, not estimates. Verify the numbers yourself; they hold up. The main residence (Unit A) is a 3-bedroom, 2-bath home with hardwood, tile, and brick flooring, granite countertops, stainless appliances, a two-car garage, and a private fenced yard. Two additional 2-bedroom, 1-bath apartments sit at the rear of the 0.59-acre lot, each with its own garage and separate driveway — private entrances and genuine separation between tenants, which is exactly why this property holds occupancy the way it does. Central heat and air throughout, architectural shingle roof, public water and sewer. Not in a flood zone — no flood insurance requirement, and that shows up directly in the expense ratio. Total operating expenses run 28.3% of effective gross income with no flood premium and no HOA dues, which is what pushes the return into the high nines. Location drives the rent roll here. Minutes from the Gulf beaches, a short drive to the Pass Road gate of NCBC Gulfport, and inside the Long Beach School District — consistently among the top-rated districts in Mississippi. Military and family tenants, BAH-supported market rents, low turnover, steady demand. This property is being sold AS-IS, WHERE-IS. Seller will make no repairs and offers no warranties of any kind. Inspections are welcome for the buyer's informational purposes only. The price reflects as-is condition. The property cash flows on day one, and the upside belongs to a buyer willing to improve the units over time and push rents toward the top of the Long Beach market. Serious investors, bring your offer. All information deemed reliable but not guaranteed. Buyer to verify all information including but not limited to lease terms, rental amounts, square footage, operating expenses, flood zone status, and school assignments.
Listing Office:Coldwell Banker Alfonso Realty-Lorraine Rd
Interior Features
Interior:2010 Sq. Ft.
Flooring:Brick,Wood,Other,Slate,See Remarks
Water Heater:40 Gallons or Less
Cooking Unit:Range
Amenities
Waterfront Features:None
# Garage Stalls:2
Patio:Patio
Exterior Features
Roof:Architectural Shingles
Sewer:Public Sewer
Details
Details:PRICE IMPROVEMENT — $244,900, SOLD AS-IS. Fully leased 3-unit income property in the heart of Long Beach producing $2,900 per month — $34,800 annually — with all three units occupied and under lease at closing. At the new price that's a 7.0 gross rent multiplier and a 9.68% cap rate, calculated on actual taxes of $2,764 and actual insurance of $3,814, not estimates. Verify the numbers yourself; they hold up. The main residence (Unit A) is a 3-bedroom, 2-bath home with hardwood, tile, and brick flooring, granite countertops, stainless appliances, a two-car garage, and a private fenced yard. Two additional 2-bedroom, 1-bath apartments sit at the rear of the 0.59-acre lot, each with its own garage and separate driveway — private entrances and genuine separation between tenants, which is exactly why this property holds occupancy the way it does. Central heat and air throughout, architectural shingle roof, public water and sewer. Not in a flood zone — no flood insurance requirement, and that shows up directly in the expense ratio. Total operating expenses run 28.3% of effective gross income with no flood premium and no HOA dues, which is what pushes the return into the high nines. Location drives the rent roll here. Minutes from the Gulf beaches, a short drive to the Pass Road gate of NCBC Gulfport, and inside the Long Beach School District — consistently among the top-rated districts in Mississippi. Military and family tenants, BAH-supported market rents, low turnover, steady demand. This property is being sold AS-IS, WHERE-IS. Seller will make no repairs and offers no warranties of any kind. Inspections are welcome for the buyer's informational purposes only. The price reflects as-is condition. The property cash flows on day one, and the upside belongs to a buyer willing to improve the units over time and push rents toward the top of the Long Beach market. Serious investors, bring your offer. All information deemed reliable but not guaranteed. Buyer to verify all information including but not limited to lease terms, rental amounts, square footage, operating expenses, flood zone status, and school assignments.
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