1203 Market StPascagoula, MS 39567

Bay Tower, a 76-unit apartment building in Pascagoula, Mississippi, presents a compelling value-add investment opportunity. This four-story, 57,796 square foot building, constructed in 1964 and renovated in 2010, sits on a 1.85-acre lot at 1203 Market St, 39567. Currently boasting 86% occupancy, the property generates a net operating income (NOI) of $26,371. However, a pro-forma NOI of $199,615 indicates significant upside potential. The property's location offers distinct advantages, being less than half a mile from the beach and within 10 minutes of major employers including Bollinger and Ingall's Naval Shipyard, Chevron's refinery, and a Rolls Royce facility. Historically an age-restricted property, Bay Tower benefits from a stable tenant base, while also presenting the opportunity to attract a broader range of renters by increasing rental rates to market levels. Further revenue growth potential exists through lease agreements with local businesses. This Class C multifamily asset offers investors a chance to capitalize on strong local employment and a prime coastal location. The building's existing infrastructure provides a solid foundation for enhancing profitability and maximizing return on investment.