Quadplex with Mixed Unit
For Sale
$210,000
1605 Fern Ave, Gulfport, MS 39501
Four-unit residential property includes studios and two-bedroom apartments, with utilities provided for the studio units.
Property Size2,181 SF
Price / SF$96.29
Days on Market59
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Property Features for 1605 Fern Ave
General Information
Standard status
Active
Size
2,181 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA, 2 x Studio
Multifamily Units
4
Building Details
Year Built
1945
Listing Agency:
Keller Williams
Listed By:
Nicole S Sanchez · License #B24326
(228) 243-1222
Source:
Fiorellaavenue
Added: Aug 18
Changed: Sep 5
Last Checked: Oct 7 at 3:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams
Investment Insights
Based on property information with market context.
Located at 1605 Fern Ave in Gulfport, Mississippi, this 2,181-square-foot quadplex contains four rental units. The unit mix includes two 2-bedroom/1-bath apartments and two studio apartments, creating varied residential layouts within the property.
The studio units include all utilities. Built in 1945, the property is offered for sale and provides an established four-unit residential configuration.
The studio units include all utilities. Built in 1945, the property is offered for sale and provides an established four-unit residential configuration.
Key Highlights
- Four rental units in a quadplex configuration
- Unit mix includes two 2‑bedroom/1‑bath apartments and two studio apartments
- 2,181 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,727
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$274,540
$274.5K
Cap Rate 7%
$196,100
$196.1K
Cap Rate 9%
$152,522
$152.5K
Market Conditions
NOI Build-Up for 2,181 SF
Gross rent
$21.2K $9.72/SF
− Vacancy
−$1.6K −$0.73/SF
EGI
$19.6K $8.99/SF
− OpEx
−$5.9K −$2.70/SF
NOI
$13.7K $6.29/SF
Area
Harrison County, MS
Vacancy
7.50%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$274,540
Cap Rate 7%
$196,100
Cap Rate 9%
$152,522
Alternative Uses
Best Use
Multifamily LT 5
$196.1K
$171.6K – $228.8K
NOI $13,727 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$174.2K
$152.5K – $203.3K
NOI $12,197 @ 7.0% cap · market cap 5.81%
Theoretical Best
Healthcare Medical
$351.4K
$307.4K – $409.9K
NOI $24,595 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
913
Businesses Nearby
Explore this area
Business Placement
Demographics for 39501, MS
22,599
Population
10,565
Households
2.1
Avg Household Size
35
Median Age
13%
College-Educated
78%
High-School Grad
14.4 sq mi
ZIP Area
1,569
Density / Sq Mi
$33,491
Median Household Income
$28,522
Median Earnings
$962
Median Rent
$115,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property includes studios and two-bedroom apartments, with utilities provided for the studio units.
Where is this quadplex located?
The property is located at 1605 Fern Ave Gulfport, MS.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Four rental units in a quadplex configuration; Unit mix includes two 2‑bedroom/1‑bath apartments and two studio apartments; 2,181 square feet
