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Captain's Landing Apartments
Asset ClassMultifamily
# Units55
Occupancy: 95%Rentable SF: 58,875Year Built: 2008Access Data Room
Captain's Landing Apartments
overview of deal

Overview

Captain’s Landing Apartments is a 55-unit LIHTC housing community located in Bayou La Batre, originally constructed in 2008 and QC eligible in 2028.

Positioned within southern Mobile County, Captain’s Landing benefits from proximity to the area’s maritime, seafood, and industrial employment base, supporting consistent demand for affordable housing. For investors, the property represents a stable, income-producing asset within an established coastal submarket with limited affordable housing supply.

Investment Highlights

Captain's Landing Apartments

  • Opportunity to achieve $20–$35 in annual rent growth by capturing the spread between effective and max rents as max rents are increased each Spring.
  • The property delivers compelling returns today, with additional upside potential tied to future QC eligibility in 2028 and the ability to lift existing rent ceilings.
  • Strong in-place operations position the asset to qualify for attractive agency or bank financing at leverage levels approaching 75% LTV.

 

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8730 University RdBayou La Batre, AL 36509

Sales Team

185 Devonshire Street, M102, Boston, MA
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