$3,800,000

10.8± Acres

Active

Lee County, MS

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171 Road 199, Tupelo, Mississippi

MLS ID: 4156733

Status: Active

Price: $3,800,000

Acres: 10.8±

Address: 171 Road 199

City, State: Tupelo, MS

County: Lee County

ZIP Code: 38801

Lat/Long: 34.217163, -88.790313

Parcel Number: 1040-17-037-00

Bedrooms: 8

Bathrooms: 70

Year Built: 1987

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

Directions: From RD 199 turn onto Dr 171, property will be on the right side.

Additional Information

Interior

Appliances: Water Heater

Bathrooms Full: 70

Building Area Total: 70,000

Cooling: Central Air

Furnished: No

Heating: Central

Living Area Source: Public Records

Exterior

Exterior Features: Lighting

Foundation Details: Slab

Lot Features: Cul-De-Sac, Landscaped, Many Trees

Lot Size Area: 11

Lot Size Square Feet: 470,448

Parking Features: Concrete, On Site

Parking Total: 102

Roof: Metal, Shingle

Water Source: Public, Well

Waterfront: Yes

Waterfront Features: See Remarks

Financial/HOA/Schools

Tax Annual Amount: 25421.11

Extra Information

Virtual Tour: https://www.propertypanorama.com/171-Road-199-Tupelo-MS-38801/unbranded

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Scott Lindsey

Mccomb, Mississippi

(601) 248-3561

Interested? Contact Us Today About This Listing

All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information current as of August 14, 2026 at 12:00:00 AM UTC.

Listed By: Daniel Demers of Sell Your Home Services, Llc.