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Timothy Holmes

tim@coastcommonwealthhomes.com +1(228) 860-8681

$3,800,000

Est. payment - /mo

8 Beds

70 Baths

70,000 SqFt

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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 70,000 sqft

Price per Sqft $54

MLS Listing ID 4156733

Bedrooms 8

Full Baths 70

Year Built 1987

Annual Tax Amount $25,421

Lot Size 10.800 Acres

Acres 10.8

Source MLS United

Property Description

Lakefront / Lilly Jean Duplexes & Houses Expand your portfolio with this rare, income-producing multi-family community situated on over 10 scenic acres featuring a private lake. This unique offering includes 67 residential units consisting of 60 duplex units (2-bedroom, 1-bath) and 7 single-family homes with a mix of floor plans: 3 homes - 3 bedroom, 2 bath 2 homes - 3 bedroom, 1 bath 2 homes - 2 bedroom, 1 bath Currently 96% occupied with predominantly one-year leases in place, this property provides immediate, stable cash flow. Many units have been updated with fresh paint, flooring, cabinets and other improvements, helping attract and retain quality tenants. The property is serviced by city water with an available well system offering operational flexibility. The spacious grounds, mature setting, and private lake create an attractive living environment that sets this community apart from typical rental properties. Whether you're looking to expand an existing portfolio or acquire a turnkey investment with strong occupancy and long-term potential, this is an opportunity to purchase an entire established rental community in a single transaction. Highlights: 67 total residential units 60 duplex units (2 bed / 1 bath) 7 single-family homes Over 10 acres with a private lake 96% occupied Predominantly one-year leases Most units renovated

Location

State MS

County Lee

Direction From RD 199 turn onto Dr 171, property will be on the right side.

Interior

Heating Central

Cooling Central Air

Fireplaces Type None

Furnishings No

Appliance Water Heater

Exterior

Exterior Feature Lighting

Parking Features Concrete, On Site

Utilities Available Cable Connected, Electricity Connected, Sewer Connected, Water Connected

Waterfront Description See Remarks

Roof Type Metal,Shingle

Garage No

Building

Lot Description Cul-De-Sac, Landscaped, Many Trees

Foundation Slab

Sewer Shared Septic

Water Public, Well

Level or Stories One

Structure Type Lighting

New Construction No

Others

Tax ID 1040-17-037-00

Virtual Tour https://www.propertypanorama.com/171-Road-199-Tupelo-MS-38801/unbranded

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Listed by Sell Your Home Services, LLC.

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Timothy Holmes

+1(228) 860-8681

Commonwealth Quick Search

171 Road 199 Tupelo, MS 38801

Timothy Holmes

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

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