3201 Eden St Pascagoula, MS 39581

Property Details for 3201 Eden St

Year built

1965

Property type

Commercial real estate

Description

This exceptional value-add multifamily investment opportunity presents the Eden Portfolio, comprising three apartment communities: Hartford Commons, Eden Manor, and Williamsburg Square. Located in Pascagoula, Mississippi, within the 420,000-person Biloxi/Gulfport MSA, this portfolio boasts a total of 214 units across 33 buildings, offering a diverse unit mix in a highly desirable rental market. The properties, situated on Eden Street, benefit from a strong positive occupancy trend, currently exceeding 90%. Recent capital expenditures exceeding $700,000 have addressed key improvements, including significant parking lot and roofing upgrades. Furthermore, recent leases have been secured above market asking rents, indicating strong potential for future revenue growth. The portfolio's asking price is $8,500,000, translating to approximately $39,720 per unit. Built in 1965 and renovated in 2007, the properties offer a solid foundation for a new owner to implement their operational strategies and capitalize on the significant upside potential. The current occupancy rate, combined with the recent CAPEX investments and above-market rents, presents a compelling value-add proposition with a clear path to stabilization and enhanced profitability. The portfolio's strong location within a desirable renter community, coupled with its substantial size and existing positive momentum, makes it an attractive investment for those seeking immediate scale and significant return potential. The net rentable square footage totals 186,036 square feet. This is a rare opportunity to acquire a well-positioned, multifamily portfolio with a proven track record and substantial room for growth.

Location Insight

City

Pascagoula

County

Jackson

State

Mississippi

Longitude

-88.5312366

Latitude

30.3666998