925 Theobald StGreenville, MS 38701

Property Details for 925 Theobald St

Year built

1979

Lot size

0.21 AC

Property size (Sq ft)

7,500 SF

Property type

Apartment buildings

Description

This bank-owned, 20-unit apartment building presents a compelling value-add opportunity in Greenville, Mississippi. Located at 925 S Theobald St, this 7,500 square foot property sits on a 0.21-acre lot and boasts a compelling pro-forma cap rate of 39.07% and a projected NOI of $234,000. Built in 1979, the two-story Class C building is currently vacant, offering a blank canvas for renovation and repositioning. The property features separate electric meters, city water and sewer, and presents significant upside potential for the savvy investor. Priced at $599,000 ($29,950 per unit and $79.87 per square foot), this REO property is a handyman special, ideal for an investor seeking a hands-on project with substantial returns. The property's location offers convenient access to Lake Ferguson and downtown Greenville. Owner financing is available with a 20% down payment. This is a rare opportunity to acquire a multifamily asset in a desirable location at a significantly discounted price. The property's current vacant status allows for immediate implementation of a value-add strategy, maximizing rental income and overall return on investment. Don't miss this chance to capitalize on this exceptional investment opportunity.

Location Insight

City

Greenville

County

Washington

State

Mississippi

Latitude

33.3985

Longitude

-91.0659

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