The unique one-story detached design is highly desirable to residents resulting in lower turnover and higher rents compared to traditional multifamily. This detached rental concept (i.e., “built-to-rent”) is sweeping the country, and “cottage style” developments have become increasingly popular among both residents, developers, and investors.

• No shared walls with neighbors – more privacy
• Lives/feels more like a house
• Appeals to empty nesters, millennials, and everyone in between
• Lower turnover – people stay longer, leading to lower turnover costs
• Rental rates for one-story, detached product are generally higher than otherwise comparable product
• Favored by “renters-by-choice” who typically have higher disposal incomes
• Lower delinquency rates among the “built-to-rent” segment of the multifamily market
• Offers opportunities to have fenced yards – coveted by residents with pets or small children
• Parking is closer to the unit and hence more convenient

The property’s one-story, detached housing design is highly unique along the coast.

The Ocean Springs apartment market is extremely healthy and is the closest location to the Pascagoula area, where Class B+ and A multifamily products are almost nonexistent.

This limited competition results in great rent growth potential and an opportunity to enhance The Cabanas Cottages, pushing rents to the next level.

The Cabanas Cottages are situated in Ocean Springs, whose school district is rated #1 in the state and whose “artsy and eclectic” downtown is one of the crown jewels of the coast and regularly cited in national publications as one of the coolest little downtowns in the country. The property is also strategically located between the Mississippi gulf coast’s two dominant employment hubs within a 10–25-minute drive of Biloxi / Keesler Air Force Base (over 20,000 employees), and within 30 minutes of Pascagoula and its massive shipyards and energy complex (over 13,000 employees).

Cabanas Cottages is located within a 10–15-minute drive of eight Biloxi and D’Iberville casinos with over 7,200 employees. The Mississippi Gulf Coast has the 3rd largest concentration of casinos in the United States.

The property offers a very convenient location at the epicenter of Ocean Springs two main employment centers each located within a 3–5-minute drive:

1) The 2.5-mile corridor along Highway 90 including Ocean Springs Hospital, Super Walmart, and Rouses Market featuring more than 2,500 employees, which features the greatest concentration of both medical employment and retail employment in Ocean Springs.

2) Sunplex Industrial Park with over 400 employees and 16 businesses