520 Dexter Drive, Flowood, MS 39232 (MLS# 1248704)
520 Dexter Drive, Flowood, MS 39232
$1,417,000
Property Type:
Res Income Multi-Fam
Lot Size (sq. ft.):
126,324
Status:
Closed
Current Price:
$1,700,000
List Date:
1/11/2013
Last Modified:
4/15/2025
Overview
Description
This is an investor?s opportunity to own income producing property in an area gaining in value. Adjacent to Flowood?s medical community these 1/1 apartments offer upside potential with minor improvements. These 52 units are divided into 13 4-plexes and the street, Dexter Dr., is a cul de sac so traffic is limited. All units provide refrigerators in addition to washers and dryers. These units produce $525 - $535 per unit monthly and vacancies are consistently low. Appraisal shows Cap Rate of 9.44%. Be sure to see the aerial view to understand the true opportunity this property provides.
Listing Details MLS# 1248704
General Property Information
- # of Units Included in Sale
- 52
- Approx Lot Size Acres
- 2.9
- Lot Size Dimensions
- 230X155X192X194 NE PT
- Year Built
- 1988
- Total Floors
- 2
- Elementary School
- Flowood
- Middle or Junior School
- Northwest Rankin Middle
- High School
- Northwest Rankin
- Complex Name
- PERDUE APARTMENTS
Property Features
Architectural Style:
Other
Levels:
Two
Interior Features:
High Ceilings
Appliances:
Exhaust Fan; Plumbed For Ice Maker
Window Features:
Skylight(s)
Laundry Features:
Electric Dryer Hookup
Security Features:
Smoke Detector(s)
Cooling:
Central Air
Heating:
Central; Electric
Utilities:
Cable Available; Cable Connected
Sewer:
Public Sewer
Water Source:
Public
Foundation Details:
Concrete Perimeter; Slab
Listing Terms:
Cash; Other
Roof:
Asphalt Shingle
Exterior Features:
Lighting
Fencing:
None
Parking Features:
On Site
Community Features:
None
Waterfront Features:
None
Flood Insurance:
Unknown
Lot Size Range:
1 to 5 Acres
Address and Location Information
- Street Number
- 520
- Street Name
- Dexter
- Street Suffix
- Drive
- County
- Rankin
- State
- MS
- Zip Code
- 39232
- Parcel Number
- F10I000021
- Subdivision
- Metes And Bounds
- Directions to Property
- Flowood Dr. between River Oaks Hospital and Flynt Dr. Dexter on the north side of Flowood Dr.
Tax and Financial Information
- Tax Annual Amount
- 22147
- Tax Year
- 2011
- Legal Description
- Parcels F10I000021 and F10I000022 00010
Status Change Info
- Contract Date/Pending Date
- 2013-03-15
- Closing Date
- 2013-04-05
- Appraised SqFt
- 66092
More Information
Waterfront Features
- Waterfront
- No
- None
- Yes
Basement Features
- Basement
- No
Remarks & Miscellaneous
- Public Remarks
- This is an investor?s opportunity to own income producing property in an area gaining in value. Adjacent to Flowood?s medical community these 1/1 apartments offer upside potential with minor improvements. These 52 units are divided into 13 4-plexes and the street, Dexter Dr., is a cul de sac so traffic is limited. All units provide refrigerators in addition to washers and dryers. These units produce $525 - $535 per unit monthly and vacancies are consistently low. Appraisal shows Cap Rate of 9.44%. Be sure to see the aerial view to understand the true opportunity this property provides.
Income & Expenses
- Gross Operating Income
- 336000
Architectural Style
- Other
- Yes
Levels
- Two
- Yes
Sewer
- Public Sewer
- Yes
Water Source
- Public
- Yes
Listing Terms
- Cash
- Yes
- Other
- Yes
Interior Features
- High Ceilings
- Yes
Utilities
- Cable Available
- Yes
- Cable Connected
- Yes
Appliances
- Exhaust Fan
- Yes
- Plumbed For Ice Maker
- Yes
Window Features
- Skylight(s)
- Yes
Laundry Features
- Electric Dryer Hookup
- Yes
Security Features
- Smoke Detector(s)
- Yes
Cooling
- Central Air
- Yes
Heating
- Central
- Yes
- Electric
- Yes
Foundation Details
- Concrete Perimeter
- Yes
- Slab
- Yes
Exterior Construction/Siding
- Wood Siding
- Yes
- Other
- Yes
Roof
- Asphalt Shingle
- Yes
Exterior Features
- Lighting
- Yes
Fencing
- None
- Yes
Parking Features
- On Site
- Yes
Community Features
- None
- Yes
Flood Insurance
- Unknown
- Yes
Lot Size Range
- 1 to 5 Acres
- Yes
Listing Office:
Century 21 Prestige
Listing Agent:
Bret Baxter
Last Updated: April - 15 - 2025
Information is deemed to be reliable but not guaranteed. Copyright 2022 MLS United, LLC.