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    511 32Nd St Gulfport, MS 39507

    View on Map
    Sponsored
    For Sale
    $749,900

    MULTI_FAMILY - Gulfport, MS

    Property size:
    10,276 SF
    Lot size:
    0.33 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 5 at 4:06 am

    Property Features for 511 32Nd St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Window features
    Blinds
    Rooms
    Bedroom 5, Bathroom 10, Bathroom 4, Bedroom 15, Bedroom 16, Bathroom 1, Bathroom 13, Bedroom 19, Bedroom 9, Bathroom 12, Bedroom 14, Bedroom 4, Bathroom 7, Bedroom 10, Bedroom 7, Bedroom 11, Bedroom 17, Bathroom 3, Bedroom 3, Bathroom 6, Bedroom 8, Bathroom 11, Bathroom 14, Bedroom 2, Bathroom 16, Bedroom 13, Bathroom 8, Bathroom 15, Bedroom 12, Bedroom 18, Bathroom 2, Bedroom 6, Bathroom 5, Bathroom 9, Bedroom 1
    Bedrooms
    19
    Bathrooms
    16
    APN
    0910n-05-010.000
    Size
    10,276 SF
    Lot size
    0.33 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1965
    Floors in Building
    2
    Number of units
    15
    Flooring type
    Tile - Ceramic, Laminate, Combination
    Roof type
    Shingle

    We can help!

    Listing Contact
    Monique C Ward

    A&W Associates Inc. (228) 617-2332

    Listing agent Monique C Ward (228) 819-2091 License #B21551

    Listing date Mar 5, 2026

    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.

    Learn more

    Property Insight Report

    Overview

    Multi-Family Investment Property in Gulfport

    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.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Gulfport
    County
    Harrison
    State
    Mississippi
    Longitude
    -89.059864
    Latitude
    30.388227

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    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 St 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: - Income-producing 15-unit property with strong rental demand potential.; - Centrally located with convenient access to downtown Gulfport, the Gulfport business district, major employers, and coastal amenities.; - Desirable unit mix: 3 two-bedroom/one-bath, 1 two-bedroom/two-bath, and 11 one-bedroom/one-bath units.
    (228) 327-4814
    Request Owner's contact information
    511 32Nd St Gulfport, MS 39507
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    Gulfport, MS 39507
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    511 32Nd St Gulfport, MS 39507
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    We can help!
    Listing Contact
    Monique C Ward
    Real Estate License ID: B21551
    (228) 327-4814 (228) 819-2091 (228) 875-7793
    Learn more
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