2005 8Th StOcean Springs, MS 39564

Property Details for 2005 8Th St

Year built

2006

Lot size

0.26 AC

Property size (Sq ft)

1,767 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a 2-unit duplex located at 2005 S 8th St, Ocean Springs, MS 39564. Built in 2006, this Class B property boasts 1,767 square feet situated on a 0.26-acre lot (APN: 0-54-05-583.000). Currently operating at 100% occupancy (as of August 31, 2024), the property generates a strong NOI of $16,000, with a pro-forma NOI projected at $20,000, representing a 7.11% cap rate and a pro-forma cap rate of 8.89%. The asking price is $225,000, translating to $127.33 per square foot and $112,500 per unit. This value-add opportunity is situated in the desirable Gulf Park Estates neighborhood, offering convenient access to Ocean Springs Public Schools and proximity to Lake Mars Boat Launch. The property is zoned residential and features one single-story building. This represents a compelling investment in a thriving coastal Mississippi community known for its rich history, artistic charm, and family-friendly atmosphere. The property's strong performance and potential for increased profitability make it an attractive addition to any investment portfolio. Serious inquiries only.

Location Insight

City

Ocean Springs

County

Jackson

State

Mississippi

Latitude

30.3706

Longitude

-88.757

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