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:
$895,000
List Date:
6/06/2025
Last Modified:
2/25/2026
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.
More Information MLS# 4115559
Address and Location Information
Parcel Number: 1210h-04-010.004
N or S of I-10: S
N or S of CSX Railroad Track: N
Street Number: 321
Street Name: Rodenberg
Street Suffix: Avenue
County: Harrison
State: MS
Zip Code: 39531
Subdivision: Metes And Bounds
Listing Information
Listing Service: Full Service
Status: Closed
List Date: 2025-06-03
List Price: $895,000
Current Price: $775,000
General Property Information
New Construction: No
# of Units Included in Sale: 18
Approx Lot Size Acres: 1.28
SqFt Source: Public Records
List Price/SqFt: 81.04
Year Built Source: Public Records
Total Floors: 2
Bathrooms Half: 0
Bathrooms Three Quarter: 0
Furnished: No
Accessibility Features: No
Approx H/C SqFt: 11044
Year Built: 1956
Bedrooms Total: 27
Bathrooms Full: 18
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
Remarks & Miscellaneous
Public Remarks: 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.
Status Change Info
Appraised SqFt: 13415
Sold Price/SqFt: 70.17
Contract Date/Pending Date: 2025-10-28
Closing Date: 2025-12-19
Structure Type
Multi Family: 1
Levels
Two: 1
Sewer
Public Sewer: 1
Water Source
Public: 1
Listing Terms
Conventional: 1
Waterfront Features
Waterfront: No
None: 1
Showing Requirements
Showing: Appointment Required
Utilities
Electricity Connected: 1
Sewer Connected: 1
Water Connected: 1
Cooling
Electric: 1
Heating
Electric: 1
Foundation Details
Slab: 1
Exterior Construction/Siding
Brick: 1
Siding: 1
Roof
Shingle: 1
Exterior Features
See Remarks: 1
Parking Features
On Site: 1
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
Listing Office:
Molyneaux Group, LLC
Listing Agent:
Doug J Molyneaux
Last Updated: February - 25 - 2026
Information is deemed to be reliable but not guaranteed. Copyright 2022 MLS United, LLC.