321 Rodenberg Avenue, Biloxi, MS 39531 (MLS# 4115559)

321 Rodenberg Avenue, Biloxi, MS 39531

$775,000

Property Type: Res Income Multi-Fam Bedrooms: 27 Square Footage: 11,044 Lot Size (sq. ft.): 55,757 Status: Closed

Current Price: $775,000 List Date: 6/06/2025 Last Modified: 1/05/2026

Overview

Description

Oasis Apartments is a 16-unit multifamily property (15 units with additional 1827 SF 3br/1ba residence) with immediate upside potential. Current rents are significantly below market, offering an opportunity to increase income by over $20,000 annually. Additionally, the property has two unfinished shells that can be converted into one-bedroom apartments with minimal impact on expenses, further increasing revenue. The property is 100% occupied, consist of approximately 10,000 square feet of rentable space on 1.27 acres. and was last renovated in 2006. Offered at $895,000, the asset is priced at $55,938 per unit (excluding the shells) with a proforma cap rate of 12.23%. Representing a projected IRR of 24.95% on a 5-year hold.

Listing Details MLS# 4115559

General Property Information

# of Units Included in Sale: 18
Approx Lot Size Acres: 1.28
Approx H/C SqFt: 11044
SqFt Source: Public Records
List Price/SqFt: 81.04
Year Built: 1956
Year Built Source: Public Records
Total Floors: 2
Bedrooms Total: 27
Bathrooms Full: 18
Furnished: No
Accessibility Features: No

Property Features

Structure Type: Multi Family Levels: Two Cooling: Electric Heating: Electric Utilities: Electricity Connected; Sewer Connected; Water Connected Sewer: Public Sewer Water Source: Public Foundation Details: Slab Listing Terms: Conventional Roof: Shingle Exterior Features: See Remarks Parking Features: On Site Waterfront Features: None

Address and Location Information

Street Number: 321
Street Name: Rodenberg
Street Suffix: Avenue
County: Harrison
State: MS
Zip Code: 39531
Parcel Number: 1210h-04-010.004
Subdivision: Metes And Bounds
N or S of I-10: S
N or S of CSX Railroad Track: N

Listing Information

Listing Service: Full Service

Tax and Financial Information

Tax Annual Amount: 8541
Tax Year: 2024
Homestead Y/N: No
Additional Exemptions Y/N: No
Flood Insurance Required?: No
Leasehold Y/N: No
Association: No
Covenants Y/N: No
Legal Description: BEG W MAR RODENBERG AVE 314 FT N OF N MAR PASS ROAD N ALG RD 50 FT N 85 DG W 57.4 FT N 59 DG W 49.5 FT N 73 DG W 42.5 FT N 57.8 FT N 88 DG W 39.2 FT N 12.9 FT N 88 DG W 64.9 FT N 23.5 FT N 88 DG W 140 FT S 202.8 FT N 89 DG E 380.2 FT TO POB NW 1/4 OF SE 1/4 SEC 25-7-10

Status Change Info

Contract Date/Pending Date: 2025-10-28
Closing Date: 2025-12-19
Appraised SqFt: 13415
Sold Price/SqFt: 70.17

More Information

Waterfront Features

Waterfront: No

Showing Requirements

Showing: Appointment Required

Listing Office: Molyneaux Group, LLC

Listing Agent: Doug J Molyneaux

Last Updated: January - 05 - 2026