4409 Mcarthur Street

About this listing

Investors opportunity!! This Multi-Family property is centrally located in the Biloxi-Gulfport-Pascagoula Metro Market. Easy access to Hwy 90 and Interstate 10. Once the site of 5 apartment buildings, there is only one building left on site. The parking and footprint of the former buildings can easily be seen and you could add 4/5 buildings. Lots of growth potential in a market with a need for additional housing. Jackson County, MS is witnessing incredible economic growth much due to the Blue Economy. Pascagoula is home to the state's largest private, single-site employer, Ingalls Shipbuilding, owned by Huntington Ingalls Industries. Other major industries include the largest Chevron refinery in the world; Rolls-Royce Naval Marine, specializing in U.S. Navy ship propulsion; and First Chemical/Chemours. The Port of Pascagoula, is a full-service deep water port with modern facilities for handling cargo from around the world. The Port's two harbors include a combination of public and private terminals handling in excess of 32 million tons of cargo through the channel annually. The Port is the largest seaport in Mississippi, and ranks nationally in the top 20 ports in foreign cargo volume.The upside to this property is with moderate investments to update and rehab of units, there's great upside in getting occupancy up and room to raise the rents as well. Annual Gross income for rented property valued at $7140. Apartment situated over pre-existing laundry facility which serviced original apartment complex.