Gulfport Multifamily Investment Opportunity

1423 Jo Ellen Circle, Gulfport, MS 39501

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For Sale

$309,000

MULTI_FAMILY - Gulfport, MS

Property size:

3,120 SF

Lot size:

0.20 Acres

Price / SF:

$99/SF

HighLights

Unfinished 5‑unit apartment building with planned layout of 15 bedrooms and 5 bathrooms
Three upstairs units and two downstairs units, each planned with 3 bedrooms, 1 bath, kitchen, and living room
Major upgrades completed in 2025: brand‑new metal roof, fresh exterior paint, and new wood privacy fence
Concrete parking in front for all five units, plus spacious rear backyard
Utilities include public water and public sewer; roof is metal
Sold as‑is; buyer to verify square footage, unit count, and configuration with the City

We can help!

Listing Contact

Elizabeth Wackenhut

Learn more

For Sale

$309,000

MULTI_FAMILY - Gulfport, MS

Property size:

3,120 SF

Lot size:

0.20 Acres

Price / SF:

$99/SF

Added:: Feb 9, 2026
Days on Market:: 121
Last Refresh:: Jun 10 at 12:06 am

Property Features for 1423 Jo Ellen Circle

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 15
Bathrooms: 5
Rooms: Bedroom 7, Bedroom 15, Bedroom 6, Bedroom 5, Bedroom 8, Bathroom 3, Bedroom 3, Bathroom 4, Bathroom 1, Bedroom 11, Bathroom 2, Bedroom 14, Bedroom 4, Bedroom 13, Bedroom 1, Bedroom 9, Bedroom 2, Bedroom 12, Bathroom 5, Bedroom 10
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

We can help!

Listing Contact

Elizabeth Wackenhut

Listing agent Elizabeth Wackenhut License #S57105

Listing office Keller Williams 707 Russell Ave, Gulfport, MS

Listing date Feb 9, 2026

MLS# 4138627 Listing URL

HighLights

Unfinished 5‑unit apartment building with planned layout of 15 bedrooms and 5 bathrooms
Three upstairs units and two downstairs units, each planned with 3 bedrooms, 1 bath, kitchen, and living room
Major upgrades completed in 2025: brand‑new metal roof, fresh exterior paint, and new wood privacy fence
Concrete parking in front for all five units, plus spacious rear backyard
Utilities include public water and public sewer; roof is metal
Sold as‑is; buyer to verify square footage, unit count, and configuration with the City

Overview

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.

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.

Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Gulfport
County: Harrison
State: Mississippi
Longitude: -89.125789
Latitude: 30.367138

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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: Unfinished 5‑unit apartment building with planned layout of 15 bedrooms and 5 bathrooms; Three upstairs units and two downstairs units, each planned with 3 bedrooms, 1 bath, kitchen, and living room; Major upgrades completed in 2025: brand‑new metal roof, fresh exterior paint, and new wood privacy fence

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

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Single-Tenant Retail Building with Frontage

Multi-Tenant Shopping Center

Industrial Office/Warehouse Property

Turnkey Retail Bin Store

Versatile Commercial Investment Property

Downtown Gulfport Commercial Building

Updated Convenience Store with Inventory

Versatile Commercial Property in Gulfport

Gulfport Commercial Property For Sale

Multi-Family Investment Property in Gulfport

Downtown Gulfport Commercial Building

Downtown Gulfport Office Opportunity

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