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Campus Cottages

$3,700,000

119 N 35th Ave, Hattiesburg, MS 39401

Active
Last Updated: 03/26/2025

6.14

Cap Rate

227,074

NOI

Details:
Cap Rate:    6.14%
NOI:    $227,074
Building Size:    30,679 sqft
Lot Area:    1.6541 acres
Occupancy:    100%
Units:    44
Year Built:    1968
Highlights:
  • - Located in an OPPORTUNITY ZONE
  • - Value Add with rents below market
  • - 30,679 SF building with 44 units
  • - Renovated in 2024, with 100% occupancy
  • - Zoned R-3 and located in an Opportunity Zone
  • - 30 units recently renovated
  • - Onsite laundry with 3 washers and 3 dryers
  • - Repaved and striped parking in 2024
  • - Solar window screens for energy efficiency
  • - Proximity to I-59 (Exit 65A) and US-49
  • - Surrounded by University of Southern Mississippi
Description:

Unlock the potential of this remarkable investment in an OPPORTUNITY ZONE, perfectly positioned in the thriving Mid-Town Area! With 44 units – 30 of which have been beautifully renovated and achieve 100% occupancy, this property is primed for growth. Benefit from below-market rents, freshly repaved and striped parking (2024), and new onsite laundry facilities featuring 3 washers and 3 dryers. Plus, we've enhanced energy efficiency with solar window screens installed on each unit. All of this, surrounded by the vibrant community of the University of Southern Mississippi, makes this an investment you won't want to miss.

Discover the vibrant market of Hattiesburg, MS, surrounding Campus Cottages. Located in close proximity to the University of Southern Mississippi, this area offers a robust rental market for multifamily and low-rise/garden investors. With a bustling student population, the property benefits from a lively atmosphere and a steady stream of potential tenants. Nearby, residents can explore the historic downtown area, enjoy the diverse local dining scene, and take advantage of the city's rich cultural offerings. Investors will appreciate the area's potential for strong rental demand and the opportunity to tap into Hattiesburg's dynamic real estate market.

Map:
Documents:
Title
Offering Memorandum_119 N 35th St- Hattiesburg_MS
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Sale_Brochure_119_N_35th_St-Hattiesburg_MS.pdf
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