Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Waters Mark Apartments. Waters Mark is a well-maintained asset with strong operational history located in Gulfport, MS. Gulfport is the second-most populous city in Mississippi with 72,000+ residents inGulfport proper and 416,000+ in the MSA. Waters Mark is located less than 0.5 miles north of US Hwy 90/Beach Boulevard (25,000 vehicles-per-day) and 0.5 miles east of US Hwy 49/25th Avenue (42,000 vehicles-per-day) providing tenants onvenient access to the entire Gulfport-Biloxi MSA. Additionally, Waters Mark is 4 miles south of Interstate-10 (66,000 vehicles-per-day) granting quick access to the entire Gulf region. In addition to convenient access to major thoroughfares, Waters Mark is 0.5 miles access from a public beach access and fishing pier allowing teantns to easily enjoy the natural amenities of Coastal Mississippi. Waters Mark boast a well maintained physical appearance and market standard interior finishes. Current ownership has dilligently managed the Property to ensure the physical health and longevity of the asset. Most notably, all roofs were replaced in 2021. Waters Mark Apartments has competitive market rental rates which help boost the strong occupancy history. Based on a rent comparable study, Waters Mark has room to organically increase rents to the upper echelon of comparable properties. Rental rates of $775 and $875 for 1Bd and 2Bd units, respectively, would grow annual top line revenue by $34,000 and be within the appropriate market range. The Property is being offered as an assumption or all cash. The assumption is detailed on the next page. The loan matures in December 2026 so a new owner could purchase the asset at low leverage and then execute a refinance at debt maturity. Waters Mark Apartments provides investors the opportunity to acquire a stabilized cash-flowing asset in a economically strong market with projected growth.