Southern Pines Apartments

Located in North Gulfport, Southern Pines Apartments is eight miles from the Gulf Coast along State Highway 49 and 1.7 miles North of Interstate 10, the southernmost cross-country interstate highway in the U.S., stretching from Santa Monica, California, to I-95 in Jacksonville, Florida. Major cities that I-10 connects include Los Angeles, Phoenix, Houston, New Orleans, Biloxi, Mobile, and Jacksonville. Southern Pines is located 3.6 miles from Gulfport-Biloxi International Airport and 10 minutes Mississippi Gulf Coast College, and less than 1 mile from a grocery-anchored shopping center and national retailers such as Starbucks, Chick-fil-A, Walmart, and many others. Strongest Retail corridor in Metro area.SVN | AVAT is proud to present Southern Pines, a 101-unit property located in Gulfport, MS. To many locals, Southern Pines is known as the 'sister property' to Magnolia Crossing, an 80-unit property nestled in a quiet and convenient part of the Biloxi/Gulfport area. This opportunity provides potential investors the chance to get their hands on great scale in the Gulf Coast market. Southern Pines flaunts an estimated year-one cash return of over $150k, which results in a cash-on-cash return of 7.7%. It should be noted that these figures assume an expense ratio of 54% or $6.3k/door of expenses. One of the most attractive parts of this opportunity is the financial performance’s upward trajectory. From T-12 to T-1 the property has increased income nearly $75k, resulting in a revenue upturn of over 8%. Due to the strong cash flow of the property, investors should expect a down payment of less than 30% in order to obtain financing.