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Fully Leased 40 Unit Multifamily Portfolio

Heart of Retail Trade Are with 30% above Market Income Rents near Interstate 10

Listing Contacts

Active

Asking Price: $8,900,000
Address 

10473 Gorenflo Rd, D'Iberville, MS 39540

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Date Added
Jun 14, 2023
Days on Market
644 days
Time Since Last Update
133 days

Details

Property TypeMultifamily
SubtypeApartment Building
ClassA
Cap Rate7.80%
Occupancy100%
Units40
Stories3
ZoningR-4 Multifamily Diwict
Broker Co-OpYes
Price/Unit$220,000

Marketing Description

Introducing the Ultimate Investment Opportunity, Orchard By The Bay Apartment Complex in D’Iberville, MS

Welcome to Orchard By The Bay, an exceptional apartment complex strategically positioned near the vibrant retail phenomenon of D'Iberville, MS.​ This is not just an investment opportunity; it's a gateway to unprecedented success in the heart of a thriving community.​

Prime Location

D'Iberville is quickly emerging as the go-to destination for major retail and dining establishments along the Mississippi Gulf Coast.​ Our apartment complex is perfectly nestled in this burgeoning retail hub, offering residents unparalleled convenience and lifestyle benefits.​ With proximity to Casino Row in Biloxi and easy access to Interstate 10, Orchard By The Bay promises a seamless blend of entertainment, commerce, and relaxation.​

Modern Living

Imagine owning an apartment complex that was 100% leased from the moment construction was completed.​ That's the level of demand and appeal Orchard By The Bay enjoys.​ With a waiting list for upcoming units, this development is a testament to its allure and the exceptional living experience it offers.​

High Traffic Exposure

Strategically located near Interstate 110, Orchard By The Bay benefits from the steady stream of nearly 80,000 vehicles that pass by daily.​ This ensures unparalleled visibility and a constant influx of potential residents seeking the perfect place to call home.​

Lifestyle Meets Convenience

Our apartment complex doesn't just offer a place to live; it provides an entire community at residents' doorstep.​ The surrounding trade area boasts a comprehensive array of amenities, including neighborhood retail, self-storage facilities, automotive services, banking options, diverse dining experiences, healthcare services, medical facilities, and educational institutions.​ Everything your residents could desire is within walking distance, making Orchard By The Bay the epitome of convenient living.​

Investment Opportunity

Orchard By The Bay isn't just a place to live; it's an unparalleled investment opportunity.​ With the explosive growth of the D'Iberville retail phenomenon, this complex is poised to appreciate in value, providing investors with not just immediate returns, but also long-term capital appreciation.​

Investment Highlights

Orchard By The Bay offers a diverse range of rental possibilities, given its R4 zoning. The flexibility to rent long term, short term, and participate in the Mid-Term Military program offers a variety of options for both tenants and landlords.

Long-term rentals provide stability with minimal turnover, making them an attractive choice for tenants seeking more extended stays. Although the income per night may be lower, the consistent, reliable income stream can be a valuable asset.

Short-term rentals, on the other hand, generate higher income per night but come with more frequent turnovers. These rentals can be appealing for tenants looking for a temporary experience in the area, such as tourists or business travelers.

The mid-term military rental option, known as Temporary Duty (TDY), provides a unique opportunity to accommodate military personnel on temporary relocations. These tenants benefit from the stability of basic allowance for housing, and landlords appreciate their reliability and strong work ethic. Participation in the Rental Partnership Program further expands the tenant pool in military communities. The mid-term military rental approach, where landlords have direct leases with tenants and the government pays rent directly, showcases a model that combines stability and reliable income, making it a win-win for both property owners and military personnel.

This diversified approach allows Orchard By The Bay to cater to a wide range of tenant needs and preferences, ensuring a dynamic and adaptable rental environment.

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Due Diligence

Due diligence information will be provided.
Please reach out to the listing contacts for details.

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