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203 N Cleveland AveLong Beach, MS 39560
Long Beach Square Apartments
Asset ClassMultifamily
Year Built1984
# Units: 100AVG SF: 960Land: 6.8 AcresAccess Data Room
overview of deal

Overview

Long Beach Square in Long Beach, MS presents a strong multifamily investment opportunity. The property offers a mix of one- and two-bedroom units with in-demand amenities and a location just minutes from the beach, downtown Long Beach, and the University of Southern Mississippi–Gulf Park campus. Residents also benefit from nearby shopping, dining, schools, and healthcare services, enhancing long term renter appeal. With steady population growth and limited apartment supply in the submarket, Long Beach Square is positioned to maintain stable occupancy and deliver consistent returns.

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Investment Highlights

  • Significant decreases to insurance have occurred under current ownership within the last year, and we have received quotes that would decrease the total insurance expense further under new ownership.
  • Anticipated cash-on-cash just above 12% and IRR exceeding 24% at the ask price of $8.5M.
  • We have received agency debt quotes ranging from 5.2-5.3% rates with up to 5 years of Interest Only payments.
  • Renovated units are currently leased at the same rates as classic units, creating immediate upside through establishing a rent premium that is already supported by the market.
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203 N Cleveland AveLong Beach, MS 39560

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Listing provided by Revere CRE