Captain's Landing

Investment Overview

Captain’s Landing is a well-maintained, 55-unit affordable housing (LIHTC) community built in 2008, featuring durable masonry exteriors and pitched shingle roofs. Offering spacious two- and three-bedroom floorplans that average an impressive 1,070 square feet, the property maintains a strong 96% occupancy rate by catering to the area's steady workforce housing demand. For investors, the asset presents a highly lucrative, dual-phased value-add strategy. In the short term, ownership can realize immediate revenue growth by achieving the maximum allowable LIHTC rent limits. Long-term, the property’s initial compliance period expires in early 2028, opening the door for new ownership to apply for a Qualified Contract (QC). Once accepted, the property will enter a three-year decontrol period and become a completely unrestricted Market Rent property by 2031.

Investment Highlights

• 55 Units | Built in 2008 | 58,875 ft²
• Clear Path to Market-Rate: LIHTC compliance ends in January 2028.
• Immediate Rent Upside: Investors can achieve immediate income growth by closing the spread between current effective rates and max allowable rents.
• Expansive Floorplans: The 55 units are perfectly balanced between 2-Bed/2-Bath (975 sq. ft.) and 3-Bed/2-Bath (1,150 sq. ft.) layouts, offering some of the largest residential footprints in the competitive submarket.
• Strong Asset Fundamentals: Built in 2008 and stabilized at 96% occupancy, the property features a clubhouse, business center, playground, and low-maintenance masonry construction.
• Favorable Financing: The property's proven, strong in-place operations position the asset to qualify for highly attractive agency or bank financing.
• Stable Coastal Workforce Base: Consistent tenant demand is driven by Bayou La Batre's active waterfront industries and convenient highway access to major regional employers in Mobile