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Multifamily

Campus Cottages

119 N 35th Ave, Hattiesburg, MS 39401

Listing Price: Request For Offer

Number of Units
44
Gross SF
72,018

Investment Overview

The Gulf States office of Marcus and Millichap is pleased to present the exclusive opportunity to acquire Campus Cottages, a 44-unit multifamily community located in Hattiesburg, MS. Situated in the midtown submarket and within walking distance of The University of Southern Mississippi (Southern Miss), Campus Cottages will arrive to market at nearly 100% leased and having been fully capitalized – $7,000 per unit infusion over the past 12 months - allowing future ownership to step into an attractive day-one yield.

The next investor will inherit extremely strong operational trends due to the “A” location of the asset within the submarket, which is walking distance to the area’s top retail, dining, and entertainment drivers, including Starbucks and Corner Market. The property is surrounded on three sides by the Southern Miss University campus, providing constant demand for rentals. The university boasts a total enrollment north of 13,200 students and employs 2,500 full-time staff, contributing over $660 million in annual economic impact to the state. The asset is also centrally positioned in proximity to the interstate and each of the top demand drivers in the market.

Heavily capitalized in recent years with an emphasis on asset preservation, Campus Cottages has benefited greatly from strategic capital infusion across nearly every interior unit. Additionally, a partial list of exterior improvements includes a complete re-skinning of exteriors with hardie board siding, installation of new architectural shingles on all cottages, re-paving and striping of the parking lot, replacement of all front doors, and installation of solar window screens. Additional value can be created by leveraging the ongoing momentum in this booming midtown micro-market to continue elevating rental income upon renewals and new leases as a material delta still exists between these assets and the newer vintage competing rental set.

Investment Highlights

  • $7,000 per unit infusion over the past 12 months
  • Heavily capitalized in recent years with an emphasis on asset preservation
  • Within walking distance of The University of Southern Mississippi (Southern Miss

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Multifamily

Campus Cottages

Listing Price: Request For Offer

Number of Units
44
Gross SF
72,018

Investment Highlights

  • $7,000 per unit infusion over the past 12 months
  • Heavily capitalized in recent years with an emphasis on asset preservation
  • Within walking distance of The University of Southern Mississippi (Southern Miss

Investment Overview

The Gulf States office of Marcus and Millichap is pleased to present the exclusive opportunity to acquire Campus Cottages, a 44-unit multifamily community located in Hattiesburg, MS. Situated in the midtown submarket and within walking distance of The University of Southern Mississippi (Southern Miss), Campus Cottages will arrive to market at nearly 100% leased and having been fully capitalized – $7,000 per unit infusion over the past 12 months - allowing future ownership to step into an attractive day-one yield. The next investor will inherit extremely strong operational trends due to the “A” location of the asset within the submarket, which is walking distance to the area’s top retail, dining, and entertainment drivers, including Starbucks and Corner Market. The property is surrounded on three sides by the Southern Miss University campus, providing constant demand for rentals. The university boasts a total enrollment north of 13,200 students and employs 2,500 full-time staff, contributing over $660 million in annual economic impact to the state. The asset is also centrally positioned in proximity to the interstate and each of the top demand drivers in the market. Heavily capitalized in recent years with an emphasis on asset preservation, Campus Cottages has benefited greatly from strategic capital infusion across nearly every interior unit. Additionally, a partial list of exterior improvements includes a complete re-skinning of exteriors with hardie board siding, installation of new architectural shingles on all cottages, re-paving and striping of the parking lot, replacement of all front doors, and installation of solar window screens. Additional value can be created by leveraging the ongoing momentum in this booming midtown micro-market to continue elevating rental income upon renewals and new leases as a material delta still exists between these assets and the newer vintage competing rental set.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

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