Magnolia Square Apartments - Fully Renovated

Matthews™, in collaboration with RealInsight Marketplace, is pleased to present the opportunity to acquire Magnolia Square Apartments, in McComb, MS; a 100-unit multifamily asset located in the heart of McComb. Magnolia Square is the largest market-rate apartment complex in the city and offers investors immediate scale in a limited-supply market. The property features a diverse unit mix of 1-bed, 2-bed, 3-bed, 4-bed, & 5-bed units, catering to a variety of tenant profiles. The property has been fully renovated and offers top-of-market interior finishes and exterior curb appeal. McComb’s primary grocery and retail options, as well as the local schools, are all within a 3-min drive of the property. Magnolia Square’s in-place rents sit below the prevailing comp set and have seen healthy, organic rent premiums achieved on the latest leases and renewals. In addition to the organic rent upside, the property sits on over 14 acres, which includes large open spaces, ideal for enhanced community amenities. The asset presents future ownership with a terrific cost basis for a fully renovated, turn-key asset and well above market cash-on-cash returns. The operational upside waiting to be captured with hands-on management, only further amplifies the already compelling return profile.