Multifamily
Magnolia Townhomes
409 N 38th Ave, Hattiesburg, MS 39401
Listing Price: $1,200,000
Investment Overview
Marcus Millichap is pleased to present to qualified investors, Magnolia Townhomes, a 12-unit townhome asset built in 2012 located in Hattiesburg, Mississippi. Magnolia Townhomes is a turnkey asset boasting a 100% occupancy rate and consists of 10 two-bedroom/one-and-a-half bathroom two-story townhomes with 970 rentable square feet and two three-bedroom/two-and-a-half bathroom two-story townhome units with 1,181 rentable square feet. Each unit has washer/dryer appliances, stained concrete floors on the main level, black appliances, wood cabinets and granite style laminate countertops in the bathrooms and kitchen. In the near term, an investor has the ability to increase rental rates to meet the market upon each lease turning. As a long-term play, an investor has the ability to develop the additional parcel directly to the south as a phase two development consisting of another 12 townhome units, which could add as much as $185,000 of topline revenue to the P&L per year upon stabilization. Magnolia Townhomes is conveniently located two minutes from University of Southern Mississippi which is home to more than 13,000 students, and within 10 minutes to Forrest Roberts General Hospital (545-beds), Merit Health Wesley Hospital (211-beds), M.M. Roberts Stadium, Turtle Creek Mall, Cloverleaf Center, and Downtown Hattiesburg.
Magnolia Townhomes
Investment Highlights
- 12-Unit Multifamily Asset Built in 2012 Consisting of All Large Two and Three-Bedroom Townhome Units
- Units are Rented on a By-The-Unit Basis but Attractive to Students Based on Its Close Proximity to the University of Southern Mississippi, which has 13,597 Students.
- Adjacent Parcel of Developable Land Included in the Sale Offers Investors the Ability to Build an Additional 12 Townhomes on Phase 2 While Phase 1 is Cash Flowing
- Situated in Midtown, Magnolia Townhomes is Close to Highway 49 and Interstate 59 with Proximity to Countless National Retailers.
- Located just Minutes From University of Southern Mississippi: 2023 Enrollment of 13,597 Students With an Economic Impact of $663 Million and Growing.
- Settled in The 16th Fastest Growing City in the Nation, Hattiesburg offers Residents a Loaded MSA with a Small-Town Charm.
- Located Only 5 Minutes from the New Jones Headquarters Which Will be Home to More than 300 New Jobs, Slated to Open Fall of 2024
Listing Price: $1,200,000
Investment Highlights
- 12-Unit Multifamily Asset Built in 2012 Consisting of All Large Two and Three-Bedroom Townhome Units
- Units are Rented on a By-The-Unit Basis but Attractive to Students Based on Its Close Proximity to the University of Southern Mississippi, which has 13,597 Students.
- Adjacent Parcel of Developable Land Included in the Sale Offers Investors the Ability to Build an Additional 12 Townhomes on Phase 2 While Phase 1 is Cash Flowing
- Situated in Midtown, Magnolia Townhomes is Close to Highway 49 and Interstate 59 with Proximity to Countless National Retailers.
- Located just Minutes From University of Southern Mississippi: 2023 Enrollment of 13,597 Students With an Economic Impact of $663 Million and Growing.
- Settled in The 16th Fastest Growing City in the Nation, Hattiesburg offers Residents a Loaded MSA with a Small-Town Charm.
- Located Only 5 Minutes from the New Jones Headquarters Which Will be Home to More than 300 New Jobs, Slated to Open Fall of 2024
Investment Overview
Marcus Millichap is pleased to present to qualified investors, Magnolia Townhomes, a 12-unit townhome asset built in 2012 located in Hattiesburg, Mississippi. Magnolia Townhomes is a turnkey asset boasting a 100% occupancy rate and consists of 10 two-bedroom/one-and-a-half bathroom two-story townhomes with 970 rentable square feet and two three-bedroom/two-and-a-half bathroom two-story townhome units with 1,181 rentable square feet. Each unit has washer/dryer appliances, stained concrete floors on the main level, black appliances, wood cabinets and granite style laminate countertops in the bathrooms and kitchen. In the near term, an investor has the ability to increase rental rates to meet the market upon each lease turning. As a long-term play, an investor has the ability to develop the additional parcel directly to the south as a phase two development consisting of another 12 townhome units, which could add as much as $185,000 of topline revenue to the P&L per year upon stabilization. Magnolia Townhomes is conveniently located two minutes from University of Southern Mississippi which is home to more than 13,000 students, and within 10 minutes to Forrest Roberts General Hospital (545-beds), Merit Health Wesley Hospital (211-beds), M.M. Roberts Stadium, Turtle Creek Mall, Cloverleaf Center, and Downtown Hattiesburg.
