119 35Th AveHattiesburg, MS 39401

Property Details for 119 35Th Ave

Year built

1968

Lot size

1.65 AC

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

This 44-unit apartment building, known as Campus Cottages, presents a compelling value-add investment opportunity in Hattiesburg, Mississippi. Located in a thriving Opportunity Zone and situated just three blocks from the University of Southern Mississippi's main campus, this Class B property boasts strong potential for increased rental income due to below-market rents. The property, built in 1968 and recently renovated in 2024, features 20 updated units, newly paved and striped parking, and recently added on-site laundry facilities (3 washers and 3 dryers). Solar window screens have been installed on all front-facing units to enhance energy efficiency. The 1.65-acre lot (APN 2-028L-07-190.00) is zoned R-3. The property's strategic location offers convenient access to the University's 14,606 students and nearly 900 staff, as well as Forrest General Hospital, a major employer in the area. Its proximity to I-59 (Exit 65A) and a variety of national retailers and restaurants further enhances its appeal. The property currently generates a NOI of $219,274, resulting in a 6.14% cap rate, and is offered at an asking price of $3,700,000. This is a rare chance to acquire a well-positioned multifamily asset with significant upside potential in a rapidly growing market. The property is currently for sale by owner.

Location Insight

City

Hattiesburg

County

Forrest

State

Mississippi

Latitude

31.3257

Longitude

-89.3417

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].