Back to Search

Gulfport Multifamily Investment Opportunity

1423 Jo Ellen Circle Gulfport, MS 39501

1423 Jo Ellen Circle, Gulfport, MS, 39501

$309,000

For Sale

$309,000

MULTI_FAMILY - Gulfport, MS

Property Size3,120 SF

Lot Size0.20 Acres

Price / SF$99.04

AddedFeb 9

Days on Market155

Last RefreshJul 14 at 2:06 pm

Property Features for 1423 Jo Ellen Circle

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 15
Bathrooms: 5
Rooms: Bedroom 13, Bedroom 2, Bedroom 14, Bathroom 4, Bedroom 10, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 6, Bedroom 11, Bedroom 15, Bedroom 1, Bedroom 4, Bedroom 12, Bedroom 7, Bedroom 9, Bathroom 5, Bedroom 8, Bathroom 2, Bedroom 5
Parking: 8
Standard status: Active
APN: 0711k-04-037.002
Size: 3,120 SF
Lot size: 0.20 Acres

Taxes and HOA fees

Tax Year: 2025
Tax Description: LOT 1423 OWEN HOMES SUBD PHASE 2
Tax Annual Amount: 3226

Utilities

Utilities: Water Available
Sewer type: Public Sewer
Water source: Public

Building Details

Year built: 1970
Floors in Building: 2
Number of units: 5
Roof type: Metal

Listing agent Elizabeth Wackenhut License #S57105

Listing office Keller Williams 707 Russell Ave, Gulfport, MS

Listing date Feb 9, 2026

MLS# 4138627 Listing URL

Investment Insights

Based on property information with market context.

This unfinished 5-unit apartment building presents a significant opportunity for contractors and investors seeking a value-add project. The existing structure comprises five separate apartments, offering the flexibility to complete the units as planned or reconfigure them to optimize income potential. The planned layout includes a total of 15 bedrooms and 5 bathrooms, with three upstairs units and two downstairs units. Each unit is designed to feature 3 bedrooms, 1 bathroom, a kitchen, and a living room. The property is situated on a lot of 0.2 acres with a spacious rear backyard. Concrete parking is in place in front of the building to accommodate all five units. Major upgrades were completed in 2025, including a new metal roof, a new wood privacy fence enclosing the entire property, fresh exterior paint, two new French double doors, and five new mailboxes. This property is being sold AS IS and is ideally suited for contractors or investors looking to finish the existing design or reimagine the layout to maximize rental income. Buyers are advised to verify the square footage, unit count, and configuration with the City of Gulfport.

Key Highlights

1970‑built 5‑unit apartment building with separate apartments and total plan for 15 bedrooms and 5 bathrooms
Five‑unit setup includes three upstairs units and two downstairs units, each with 3 bedrooms, 1 bath, kitchen, and living room
Major 2025 upgrades include a brand‑new metal roof and fresh exterior paint

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$34.4k	$11.04
− Vacancy	−$2.7k	−$0.87
EGI	$31.7k	$10.17
− OpEx	−$14.3k	−$4.58
NOI	$17.4k	$5.59

3,120 SF · lease $11.04/SF/yr · vacancy 7.90% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$249.3K

$218.1K – $290.8K (±1% cap)

NOI $17,448 @ 7.0% cap · market cap 5.65%

Second Best

—

no second resolved use

Theoretical Best

Healthcare Medical

$502.6K

$439.8K – $586.4K (±1% cap)

NOI $35,184 @ 7.0% cap · market cap 11.39%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Similar For Sale Nearby

$996,000

12,062 SF

Light Industrial Warehouse with Office

I-1 light industrial building includes climate controlled office space, observation room, and multiple rollup doors on 2.3 acres.

21051 Coastal Parkway, Gulfport, MS 39503

View Details
$549,500

3,325 SF

Single-Tenant Retail Building

Single-tenant retail building on E Pass Road with direct frontage and lease in place through Thriffiley Orthopedic.

1639 E Pass Road, Gulfport, MS 39507

View Details
$489,900

3,300 SF

Zoned B-1 Office Building

Office building with flexible layout, rear parking, and multiple reception/waiting areas under B-1 zoning.

416 E Pass Road, Gulfport, MS 39507

View Details
$425,000

6,000 SF

Renovated Medical Office Building

Renovated brick medical/office building with multiple entrances, ample parking, and new flooring throughout most areas.

283 Debuys Road, Gulfport, MS 39507

View Details
$175,000

2,608 SF

Office Property with Garage

Includes a 2,608 sf office building with attached double car garage and a 768 sf metal building with roll-up door.

14121 Dedeaux Road, Gulfport, MS 39503

View Details
$499,500

4,395 SF

Multi-Tenant Shopping Center

Established multi-tenant retail center with current tenancy and T4+ zoning in Gulfport.

1092 Acadian Drive lot: 3, Gulfport, MS 39507

View Details
$989,000

7,830 SF

Office Building with Multiple Entrances

Sought-after business park office building with 20 private offices, conference rooms, and five ADA restrooms.

10281 Corporate Drive, Gulfport, MS 39503

View Details
$698,000

4,666 SF

Flex Industrial Property with Rental

Front metal building includes multiple roll-up doors, showroom, office, and service bays, with a leased rear building.

15237 Russell Boulevard, Gulfport, MS 39503

View Details
$660,000

8,034 SF

Multifamily Housing Bundle with 12 Units

Owner prefers sale of 12-unit bundle with a 7-plex, two duplexes, and one house on one street.

1226 43rd Avenue, Gulfport, MS 39501

View Details
$555,000

6,557 SF

Downtown Office Building with Suites

6,557+/- SF office building across from City Hall with a front office area and a large rear open space.

1513 24th Avenue, Gulfport, MS 39501

View Details
$399,000

2,400 SF

Updated Convenience Store with Kitchen

Updated convenience store with an open interior layout and fully equipped kitchen, including included coolers and kitchen equipment.

16260 Robinson Road, Gulfport, MS 39503

View Details
$1,495,000

44,175 SF

Warehouse with Office and Dock

For-sale warehouse and retail building with office space, a loading dock, and outdoor storage bins on 5.86 acres.

813 E Pass Road, Gulfport, MS 39507

View Details

For sale
Apartment buildings
MS
Gulfport
39501
1423 Jo Ellen Circle

What type of property is this?

Apartment building - Unfinished 5-unit apartment building with value-add potential.

Where is this apartment building located?

The property is located at 1423 Jo Ellen Circle Gulfport, MS.

What is the asking price?

The asking price for this property is $309,000.

What are key features of this property?

This property features: 1970‑built 5‑unit apartment building with separate apartments and total plan for 15 bedrooms and 5 bathrooms; Five‑unit setup includes three upstairs units and two downstairs units, each with 3 bedrooms, 1 bath, kitchen, and living room; Major 2025 upgrades include a brand‑new metal roof and fresh exterior paint

1423 Jo Ellen Circle Gulfport, MS 39501

MULTI_FAMILY - Gulfport, MS

Property Features for 1423 Jo Ellen Circle

General Information

Taxes and HOA fees

Utilities

Building Details

Investment Insights

Key Highlights

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Property Analytics

Current Use by Public Records

Suggested Use

Similar For Sale Nearby

Light Industrial Warehouse with Office

Single-Tenant Retail Building

Zoned B-1 Office Building

Renovated Medical Office Building

Office Property with Garage

Multi-Tenant Shopping Center

Office Building with Multiple Entrances

Flex Industrial Property with Rental

Multifamily Housing Bundle with 12 Units

Downtown Office Building with Suites

Updated Convenience Store with Kitchen

Warehouse with Office and Dock

FAQs