285 Nelson Dr - Apartments FOR SALE


Hazlehurst, MS 39083
$655,000 USD
601-552-6756
285 Nelson Dr, Hazlehurst, MS for Sale
$655,000 USD
Apartments - FOR SALE
1/20
null | Request Cap Rate

285 Nelson Dr
Hazlehurst, MS 39083


HIGHLIGHTS

  • 36 units offered 100% vacant, providing immediate control over renovation planning, construction scheduling, and future lease-up efforts.
  • Buildings feature brick lower facades, mansard-inspired rooflines, recessed stairwells, expansive surface parking, and ample land for future use.
  • Unit mix includes eight one-bedroom units, 24 two-bedroom units, and four three-bedroom units, creating exposure to multiple renter groups.
  • Approximately 30 miles south of Jackson along I-55, the property offers value-add potential in a market where renovated housing remains limited.

OVERVIEW

Acquire Hazlehurst Villas, a 36-unit multifamily community at 285 Nelson Drive in Hazlehurst, Mississippi, offered 100% vacant and ready for a full-scale repositioning. The property consists of four garden-style apartment buildings featuring brick lower facades, mansard-inspired rooflines, recessed central stairwells, and ample surface parking. With all units vacant, investors can immediately implement a renovation plan without navigating existing leases, tenant relocations, or phased construction schedules. The unit mix includes 8 one-bedroom units, 24 two-bedroom units, and 4 three-bedroom units, providing exposure to a range of renter demographics. Current ownership estimates stabilized market rents of approximately $750 per month for one-bedroom units, $900 per month for two-bedroom units, and $1,100 per month for three-bedroom units following renovation, creating a clear framework for evaluating renovation costs against potential income. Located approximately 30 miles south of Jackson along Interstate 55, Hazlehurst benefits from regional connectivity while maintaining a lower-cost residential environment than larger metropolitan areas. The city's position along a major transportation corridor supports access to employment centers, healthcare services, education, manufacturing, and distribution employers throughout Central Mississippi. For investors focused on distressed and value-add acquisitions, the offering provides a blank slate. The property's vacancy eliminates lease-up disruption during construction, enabling improvements to be completed efficiently and consistently throughout the community. Renovating all 36 units simultaneously may shorten the path to stabilization while providing flexibility to modernize unit interiors, building systems, exterior appearance, and common areas in line with the investor's business plan. Note: Cash offers only. Seller is seeking a quick sale. Interested buyers may contact the seller directly at (813) 545-4348.

FOR SALE DETAILS

PRICE

$655,000 USD

PRICE/SF

$22 USD /SF

# OF UNITS

36

PRICE/UNIT

$18,194

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hazlehurst Villas

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.2 AC

LAND SF

226,512 SF

ZONING

-

APN/PARCEL ID

1-106E-02-041.00

ASK ABOUT THIS PROPERTY

Tim Taylor31 At 61, LLCMore Info
601-552-6756

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Tim Taylor31 At 61, LLCMore Info
601-552-6756

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.