Description
Lakefront / Lilly Jean Duplexes & Houses Expand your portfolio with this rare, income-producing multi-family community situated on over 17 scenic acres NEAR 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 97% 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 lake views 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 17 acres with a lake views 97% occupied Predominantly one-year leases Most units renovated
Details
| MLS # | 4156733 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1987 |
| Days On Site | 43 |
| Listing Provided By | Sell Your Home Services, LLC. | Daniel Demers |
Features
| Bed(s) | 8 |
|---|---|
| Bath(s) | 70 Total |
| SQ Feet | 70,000 |
| Story(s) | 1 |
| Units | 67 |
| Acreage | 10.80 |
| Water Front | See Remarks |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Furnished | No |
| Appliances | Water Heater |
Exterior
| Exterior Features | Lighting |
|---|---|
| Roof | Metal, Shingle |
| Construction Materials | Brick, Siding |
| Foundation Details | Slab |
| Lot Features | Cul-De-Sac, Landscaped, Many Trees |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Parking Features | Concrete, On Site |
Utilities
| Utilities | Cable Connected, Electricity Connected, Sewer Connected, Water Connected |
|---|
Taxes
| Property | 25421 |
|---|
Area Information
| State | MS |
|---|---|
| County | Lee |
| City | Tupelo |
| Zip Code | 38801 |
| Area | Lee |
| Listing VS Median (in 38801) | |
Price: $3,800,000 low | high Med: $95,000 sqft: 70,000 low | high Med: 1,305 $ / sqft: $54 low | high Med: $73 On site: 43 low | high Med: 34 | |
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Learn More About This Property
| State | MS |
|---|---|
| County | Lee |
| City | Tupelo |
| Zip Code | 38801 |
| Area | Lee |
| Listing VS Median (in 38801) | |
Price: $3,800,000 low | high Med: $95,000 sqft: 70,000 low | high Med: 1,305 $ / sqft: $54 low | high Med: $73 On site: 43 low | high Med: 34 | |