2925 Eden St
Pascagoula, MS 39581
Willow Creek MS · Multifamily Property For Sale · 96 Units

Willow Creek Apartments is a 96-unit garden style apartment community located at 2925 Eden Street in Pascagoula, MS within the Biloxi-Gulfport DMA. Willow Creek Apartments offers investors an opportunity to acquire a well-positioned value-add asset in a strategic coastal Mississippi market. The property benefits from many attributes that support an increase in value from the property, submarket, and regional levels. The subject is a 96-unit apartment complex contained within 15, two-story, buildings. Built in 1971 and renovated in 2006 and 2016, the buildings have low maintenance brick/vinyl exteriors and metal roofs. The property is situated on one parcel totaling ±3.18 acres and offers 130 total parking spaces for residents and guests. Willow Creek Apartments is currently 76% occupied with a unit mix consisting of forty (40) 1 bed/1 bath units averaging 750 SF and fifty-six (56) 2 bed/2 bath units averaging 895 SF. Units offer renovated interiors, fully furnished kitchens, central HVAC, walk-in closets, window coverings, linen closets, and high speed internet access. A new owner can further increase NOI and create value including by implementation of RUBS (Ratio Utility Billing Systems) to recover appropriate utility costs. Willow Creek Apartments is located in the coastal city of Pascagoula in Jackson County, a high barrier to entry market with improving market fundamentals and no recent supply or planned market rate competition in the immediate area. The subject is accessible via US-90 (one-mile) and connects to Biloxi, MS (23-miles). Willow Creek Apartments is located in a dynamic employment market and is positioned four miles from Chevron Pascagoula Refinery, and two miles from VT Halter Marine. The location is an A-rated, blue ribbon school district and positioned directly across the street from Colmer Middle School, two-minute drive from a Jackson Elementary School, three-minute drive from Cherokee Elementary School, and five-minute drive from Pascagoula High School. The 2019 demographics show approximately 34,684 individuals residing within a five-mile radius of the property and an average household income of $51,882. Willow Creek Apartments is positioned in a high demand rental area with renters accounting for 49.01% of the occupied housing population within one-mile of the subject. Willow Creek Apartments offers investors the opportunity to acquire a ±81% occupied, cash-flowing apartment community with several upside opportunities.