Multi-Family Investment Property in
511 32nd Street, Gulfport, MS 39507
MULTI_FAMILY - Gulfport, MS
Property size:
10,276 SFLot size:
0.33 AcresPrice / SF:
$72/SF- Added:
- Mar 4, 2026
- Days on Market:
- 98
- Last Refresh:
- Jun 10 at 2:06 am
Property Features for 511 32nd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 19
- Bathrooms
- 16
- Rooms
- Bathroom 15, Bedroom 7, Bedroom 13, Bedroom 18, Bathroom 7, Bathroom 8, Bedroom 11, Bedroom 6, Bedroom 3, Bathroom 5, Bedroom 10, Bathroom 13, Bathroom 1, Bathroom 12, Bathroom 4, Bedroom 16, Bedroom 2, Bedroom 12, Bathroom 16, Bedroom 19, Bedroom 8, Bathroom 6, Bathroom 10, Bedroom 9, Bathroom 14, Bedroom 15, Bedroom 5, Bedroom 1, Bedroom 14, Bathroom 9, Bathroom 11, Bedroom 17, Bathroom 3, Bathroom 2, Bedroom 4
- Window features
- Blinds
- Standard status
- Active
- APN
- 0910n-05-010.000
- Size
- 10,276 SF
- Lot size
- 0.33 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- LOTS 1 & 2 BLK 14 REV OF MAGNOLIA GROVE
- Tax Annual Amount
- 7658
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1965
- Floors in Building
- 2
- Number of units
- 15
- Flooring type
- Laminate, Tile - Ceramic, Combination
- Roof type
- Shingle
Listing agent Monique C Ward License #B21551 (228) 327-4814
Listing office Beau Vue Realty, LLC 3108 Government Street, Ocean Springs, MS (228) 819-2091
Listing date Mar 4, 2026
MLS# 4141295
Listing URL
Copyright © 2026 MLS United. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 15‑unit multi‑family property with a unit mix of 11 one‑bedroom/one‑bath units, three 2‑bedroom/1‑bath units, and one 2‑bedroom/2‑bath unit
- Recent exterior improvements include new soffit and fascia, painted vinyl siding, exterior lighting, and new upstairs railings
- Several downstairs units updated with new sheetrock, appliances, paint, fixtures, shower/tubs, cabinets, vanities, and sinks
- Upgrades include four new mini‑split systems and one new conventional HVAC unit
- Services include public water and public sewer
- Roof is shingle; flooring includes laminate, tile (ceramic), and combination
Overview
This 15-unit income-producing property is centrally located with convenient access to downtown Gulfport and the Gulfport business district. Its location makes it an attractive rental option for tenants seeking proximity to work, entertainment, and coastal amenities. The property is ideally situated near major employers and destinations including the Gulfport-Biloxi International Airport, Mississippi Air National Guard, Port of Gulfport, Island View Casino Resort, Jones Park, Gulfport Small Craft Harbor, and the Mississippi Aquarium. Its central location along the Mississippi Gulf Coast provides strong rental demand potential and convenient access to shopping, dining, recreation, and major transportation routes. The complex, situated on a 0.33-acre lot, consists of 3 two-bedroom/one-bath units, 1 two-bedroom/two-bath unit, and 11 one-bedroom/one-bath units, providing a desirable unit mix for a variety of tenants. The property has a total size of 10276 square feet. Recent exterior improvements include new soffit and fascia, painted vinyl siding, exterior lighting, and new upstairs railings. Several downstairs units have been updated with new sheetrock, appliances, paint, fixtures, shower/tubs, cabinets, vanities, and sinks. Additional upgrades include four new mini-split systems and one new conventional HVAC unit. Upstairs several units have also been refreshed, receiving new paint and repairs as needed.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $113.4k | $11.04 |
| − Vacancy | −$9.0k | −$0.87 |
| EGI | $104.5k | $10.17 |
| − OpEx | −$47.0k | −$4.58 |
| NOI | $57.5k | $5.59 |
10,276 SF · lease $11.04/SF/yr · vacancy 7.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$821.0K
$718.3K – $957.8K
NOI $57,467 @ 7.0% cap · market cap 7.66%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.66M
$1.45M – $1.93M
NOI $115,882 @ 7.0% cap · market cap 15.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Gulfport
- County
- Harrison
- State
- Mississippi
- Longitude
- -89.059864
- Latitude
- 30.388227
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 15-unit property near downtown Gulfport with recent improvements.
Where is this apartment building located?
The property is located at 511 32nd Street Gulfport, MS.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: 15‑unit multi‑family property with a unit mix of 11 one‑bedroom/one‑bath units, three 2‑bedroom/1‑bath units, and one 2‑bedroom/2‑bath unit; Recent exterior improvements include new soffit and fascia, painted vinyl siding, exterior lighting, and new upstairs railings; Several downstairs units updated with new sheetrock, appliances, paint, fixtures, shower/tubs, cabinets, vanities, and sinks
