Skip to main content

Multifamily

The Gardens

910 Kings Creek Rd, New Albany, MS 38652

Listing Price: Request For Offer

Number of Units
80
Occupancy
96.0%
Gross SF
70,000

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale 80 apartment units located in New Albany, MS. The Gardens Apartments (the Property) is located at 910 Kings Creek Road. The Property is well maintained with no deferred maintenance. Based on a competitive rent analysis, the current average leased rents at The Gardens are nearly $120 below market for both 1Bd and 2Bd units. Located on one parcel spanning 5.60 acres, the Property is well located in New Albany near I-22 (30,000 vehicles per day) granting easy access to nearby employers, restaurants and retail. The Property is located off Mississippi Highway 15 that encounters 11,000+ vehicles per day. The Gardens offers investors the opportunity to purchase a clean and well occupied asset with value add upside through light-to-moderate cosmetic interior upgrades.

Investment Highlights

  • Value add opportunity to increase rental revenue nearly $120/unit through cosmetic interior upgrades.
  • Ideal location near major thoroughfares, employers, retail and entertainment.
  • Meticulously maintained asset with no deferred maintenance.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Listing Price: Request For Offer

Number of Units
80
Occupancy
96.0%
Gross SF
70,000

Investment Highlights

  • Value add opportunity to increase rental revenue nearly $120/unit through cosmetic interior upgrades.
  • Ideal location near major thoroughfares, employers, retail and entertainment.
  • Meticulously maintained asset with no deferred maintenance.

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale 80 apartment units located in New Albany, MS. The Gardens Apartments (the Property) is located at 910 Kings Creek Road. The Property is well maintained with no deferred maintenance. Based on a competitive rent analysis, the current average leased rents at The Gardens are nearly $120 below market for both 1Bd and 2Bd units. Located on one parcel spanning 5.60 acres, the Property is well located in New Albany near I-22 (30,000 vehicles per day) granting easy access to nearby employers, restaurants and retail. The Property is located off Mississippi Highway 15 that encounters 11,000+ vehicles per day. The Gardens offers investors the opportunity to purchase a clean and well occupied asset with value add upside through light-to-moderate cosmetic interior upgrades.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

MM Texture Background
MM Textured Background Lower