Multi-Family Investment Property in
511 32nd Street Gulfport, MS 39507
For Sale
$749,900
MULTI_FAMILY - Gulfport, MS
Property Size10,276 SF
Lot Size0.33 Acres
Price / SF$72.98
Days on Market146
Property Features for 511 32nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
19
Bathrooms
16
Rooms
Bedroom 4, Bedroom 3, Bedroom 18, Bathroom 4, Bathroom 13, Bedroom 6, Bedroom 16, Bedroom 2, Bedroom 10, Bathroom 15, Bathroom 11, Bedroom 8, Bathroom 2, Bathroom 16, Bedroom 9, Bedroom 11, Bedroom 17, Bathroom 14, Bathroom 3, Bedroom 14, Bathroom 8, Bathroom 1, Bedroom 1, Bedroom 7, Bedroom 13, Bedroom 5, Bedroom 15, Bedroom 19, Bathroom 5, Bathroom 6, Bathroom 7, Bedroom 12, Bathroom 10, Bathroom 9, Bathroom 12
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 Agency:
Beau Vue Realty, LLC
(228) 819-2091
Listed By:
Monique C Ward · License #B21551
(228) 327-4814
Added: Mar 4
Changed: Jul 24
Last Checked: Jul 28 at 12:06AM
MLS# 4141295
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.
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 15‑unit income‑producing multi‑family built in 1965 with a unit mix of 11 1BD/1BA and 4 2BD units (3 with 1BA, 1 with 2BA)
- Several downstairs units updated with new sheetrock, appliances, paint, fixtures, shower/tubs, cabinets, vanities, and sinks
- Recent exterior improvements include new soffit and fascia, painted vinyl siding, exterior lighting, and new upstairs railings
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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
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 income‑producing multi‑family built in 1965 with a unit mix of 11 1BD/1BA and 4 2BD units (3 with 1BA, 1 with 2BA); Several downstairs units updated with new sheetrock, appliances, paint, fixtures, shower/tubs, cabinets, vanities, and sinks; Recent exterior improvements include new soffit and fascia, painted vinyl siding, exterior lighting, and new upstairs railings
