1765 Ridgeway Dr, Biloxi, MS 39531

Three stand-alone properties/rentals in one area on two adjacent parcels, with potential to add a fourth. There is an opportunity for increasing all three rental rates, as well as transferring lawn maintenance and water bills (currently paid by landlord) to tenants' responsibility, for substantial cash flow increase. The two smaller units at 1764 and 1766 Garden Park are occupied with established tenants which should both be month to month starting 3/31/23, but 1765 Ridgeway is vacant, prepped, and ready for your next tenant. Unaware of any covenants or HOA. DETAILS: 1765 RIDGEWAY, vacant, 3/1; 1,522 SF per appraiser. Remodeled in 2017 (paint, bathtub, waterproof LVT), 2nd potential bathroom off back porch needs completion. Good curb appeal and nice-looking roof. Fenced backyard. X flood zone Potential for value-add via subdividing rear of lot and extending Garden Park rental properties to a fourth total rental unit with approvals. 2022 taxes - $1,410. Current insurance premium is $1,674..... 1764 GARDEN PARK:, currently rented for $550 to stable solo tenant, 1/1 – 680 SF per appraiser, plus an additional 736 of garage/storage on first floor. 2nd flood efficiency above garage (current tenant doesn't have access to). AE flood zone. 2022 taxes - $1,134 (includes both 1764 and 1766 Garden Park structures on same parcel). Total current insurance premium is $841, plus $666 for flood policy.... 1766 GARDEN PARK, currently rented for $430 (likely due for an increase for long-time tenant). 1/1 – 731 SF per appraiser. Single family cottage with fencing. Long term tenant (25+/- years). AE flood zone 2022 taxes - $1,134 (includes both 1764 and 1766 Garden Park structures on same parcel) Total current insurance premium $819, plus $640 for flood policy.