Eden Portfolio

The Eden Portfolio includes Hartford Commons, Eden Manor, and Williamsburg Square, totaling 214 units.​ The portfolio is located in Pascagoula, Mississippi, and is in the 420,000-person Biloxi/Gulfport MSA.​ The assets are currently on a solid positive occupancy trend and features a diverse unit mix in a desirable rental market location.​ Recent CAPEX expenditures and a focus on returning all units to available status provides an excellent entry point for the new owner and their future vision for the properties.​

• Asking price $8,500,000.

• Excellent basis going in.

• Immediate scale with 214 units.

• Diverse unit mix.

• All three properties are on Eden Street in a desirable renter community.

• Current occupancy is over 91% with a positive occupancy trend.

• Approximately $700,000 in recent CAPEX including significant parking lot and roofing upgrades.

• Recent leases in excess of market asking rents.

• Approximately $100 delta to market comps and over $140 to the market leader.

• Great basis for new owners with many options to improve the asset and operations.

• Solid value-add play with an excellent starting point including an asset in good physical condition with an improving trend

and path to stabilization.