Hattiesburg Portfolio

This portfolio consisted of 176 units across 3 assets located right near campus (Southern Mississippi University) in Hattiesburg, MS.  Purchased at an amazing basis of $71K/unit with rents well below market, the project plan centers around improving the interior units and exterior improvements to drive rents up by 27%.  On top of the unit improvements, we have the ability to convert 19 four-bedroom units to 32 two-bedroom units which will rapidly push up property value by allowing higher rental income.

Hattiesburg is a very low supply, yet growing, MSA that allows us to avoid the supply vs demand issues that is seen in many cities across the Southeast.  This was a major factor in selecting Hattiesburg as a key investment market for Emerald City Associates.