Map of Property

Magnolia Crossing Apartments

For Sale

880 Lindh Rd, GULFPORT, MS 39507

This GULFPORT property for sale is located at 880 Lindh Rd. The current listed sale price for Magnolia Crossing Apartments is Subject To Offer. Magnolia Crossing Apartments is situated on a lot that is 4.4 acre in size.

Contacts

broker

Jason Hyde

SVN | AVAT Realty

(256) 726-9096

Property Details

  • Property Type Multi-Family
  • Property Size 62,320 SF
  • Units 80
  • Lot Size 4.4 Acre
  • Year Built 1984
  • Date Updated Apr 23, 2024
Gulfport, MSSVN | AVAT is excited to present Magnolia Crossing, an 80-unit property nestled in a quiet and convenient part of the Biloxi/Gulfport Area, less than 10 minutes from 70% of the jobs in this growing area of the Sunbelt region. This property is unique in many respects, but the most attractive feature is the DAY ONE CASH FLOW of over 8% (YR 1) a potential investor will be receiving. Current ownership has made it a priority to fill this property not only with a good tenant base, but also bring those tenants in near market rent. With loss-to-lease nearing the sub 10% mark, investors should expect a year one cash return of over $130k, resulting in a cash on actual cash return of 8.15%. The recommended five-year hold period offers an average cash on cash return over 12%, and an astounding IRR of over 31%, with only modest rent increases. Looking for a safe place to put your cash? Look no further, the opportunity is here, with Magnolia Crossing. Of Note: Southern Pines Apartments, a 101-unit property in Gulfport, and the Sister property to Magnolia Crossing, is available to purchase along with Magnolia, providing investors the opportunity to scale in the market, reduce expenses per unit, and establish an infrastructure that could acquire additional units in the coming 24 months.

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Highlights

  • Easy Lift Upside
  • Fitness Center
  • Pool
  • BBQ Area
  • Very nice, clean deal that is financiable with I/O.

Getting around

  • 49/100

    Walk Score ®

  • 42/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City GULFPORT, MS
  • Zip Code 39507

Points of Interest

  • Texaco

    0.53 miles

  • Clark's

    0.57 miles

  • Clark's

    2.01 miles

  • Exxon

    2.19 miles

  • Kangaroo Express

    2.23 miles

  • Clark's

    2.96 miles

  • Shell

    3.77 miles

  • Circle K

    5.03 miles

  • Shell

    5.18 miles

  • Clark's

    5.38 miles

  • IVCR Employee parking

    6.03 miles

  • Hardy Hall Parking Lot

    8.43 miles

  • Vietnamese Martyrs Catholic Church

    8.44 miles

  • Tennis Court Parking Lot

    8.44 miles

  • Palace Casino Parking Garage

    8.97 miles

  • Motel 6

    1.90 miles

  • Grand Centennial Hotel

    3.12 miles

  • The Oasis Resort - North

    3.22 miles

  • The Oasis Resort - South

    3.25 miles

  • Days Inn by Wyndham Biloxi Beach

    4.00 miles

  • Residence Inn

    4.01 miles

  • Flamingo Inn

    4.10 miles

  • South Beach

    4.17 miles

  • Star Inn

    4.19 miles

  • Star Inn

    4.20 miles

  • Walmart Neighborhood Market

    0.70 miles

  • Walmart Supercenter

    1.20 miles

  • JCPenney

    1.34 miles

  • Belk

    1.45 miles

  • Dillard's

    1.46 miles

  • Walmart Neighborhood Market

    3.04 miles

  • Save-A-Lot

    4.05 miles

  • Walmart Neighborhood Market

    4.77 miles

  • Walmart Supercenter

    4.90 miles

  • TJ Maxx

    5.38 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Jason Hyde

SVN | AVAT Realty

(256) 726-9096