100 Elizabeth St 6 Unit Apartment Building $550,000 ($91,667/Unit) 9.75% Cap Rate Picayune, MS 39466

**100 Elizabeth Street | Picayune, Mississippi**
**Off-Market 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
Financial Highlights
* Current Annual Rental Income: **$70,200**
* Stabilized Annual Gross Scheduled Rent: **$80,400**
* Stabilized Effective Gross Income: **$76,380**
* Stabilized Net Operating Income (NOI): **Approximately $53,648**
### 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.
For additional financial information, operating details, or to discuss this investment opportunity, please contact me.