32-Unit Apartment
1015 W Pine St Hattiesburg, MS 39401
1015 W Pine St, Hattiesburg, MS, 39401
$2,000,000
For Sale
$2,000,000
MULTI_FAMILY - Hattiesburg, MS
Property Size24,576 SF
Lot Size0.94 Acres
Price / SF$81.38
Days on Market46
Property Features for 1015 W Pine St
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 1
- Rooms
- Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 3
- Standard status
- Active
- APN
- 019287
- Size
- 24,576 SF
- Lot size
- 0.94 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- Lots 6-7-8, Block 140
- Tax Annual Amount
- 12530
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1972
- Number of units
- 32
- Flooring type
- Vinyl, Carpet
- Building materials
- Brick
- Roof type
- Metal, Tar/Gravel
Listing Agency
REALTYcom, LLC
(601) 749-9440
418 Lake David Drive, Picayune, MS
Listed by
Paulette Egler
(985) 264-5342
Added: Jun 5 Updated: Jul 11 at 2:32 am Checked: Jul 20 at 11:06 pm
MLS# 187941
Listing URL
Copyright © 2026 Pearl River County Board of Realtors. 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 offering is a 32-unit apartment complex comprising twelve 1-bedroom, 1-bath units and twenty 2-bedroom, 1-bath units. The property includes on-site laundry. Updates noted in the public remarks include 14 hot water heaters and 9 central AC units replaced, along with a metal roof on the rear building.
The complex is located at 1015 W Pine St in Hattiesburg, within City limits. The public remarks describe the property as being in Flood Zone C. Information on gross income, rent rolls, total operating expenses, and cap rate is available to qualified buyers, and the listing notes buyer qualification requirements.
This asset is positioned for investors seeking an income-producing multifamily property with a mix of 1- and 2-bedroom units and documented mechanical improvements. The listing also states that buyer/investors must be pre-qualified and that there is no owner financing. Buyers interested in underwriting are instructed to request additional financial details through the listing broker.
The complex is located at 1015 W Pine St in Hattiesburg, within City limits. The public remarks describe the property as being in Flood Zone C. Information on gross income, rent rolls, total operating expenses, and cap rate is available to qualified buyers, and the listing notes buyer qualification requirements.
This asset is positioned for investors seeking an income-producing multifamily property with a mix of 1- and 2-bedroom units and documented mechanical improvements. The listing also states that buyer/investors must be pre-qualified and that there is no owner financing. Buyers interested in underwriting are instructed to request additional financial details through the listing broker.
Key Highlights
- 32‑unit apartment complex built in 1972 with brick construction
- Unit mix: (12) 1 bed / 1 bath and (20) 2 bed / 1 bath
- Public utilities: public water and public sewer
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 | $271.3k | $11.04 |
| − Vacancy | −$21.4k | −$0.87 |
| EGI | $249.9k | $10.17 |
| − OpEx | −$112.4k | −$4.58 |
| NOI | $137.4k | $5.59 |
24,576 SF · lease $11.04/SF/yr · vacancy 7.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.72M – $2.29M
NOI $137,437 @ 7.0% cap · market cap 6.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.04M
$3.54M – $4.72M
NOI $283,116 @ 7.0% cap · market cap 14.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - 32-unit income property with on-site laundry and mixed one- and two-bedroom layouts in Flood Zone C.
Where is this apartment building located?
The property is located at 1015 W Pine St Hattiesburg, MS.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 32‑unit apartment complex built in 1972 with brick construction; Unit mix: (12) 1 bed / 1 bath and (20) 2 bed / 1 bath; Public utilities: public water and public sewer
