15-Unit Apartment Building with
For Sale
$2,260,000
183 Mc Donnell Avenue Unit ALL, Biloxi, MS 39531
Income-producing apartment property with current leases and four furnished short-term rental units.
Property Size37,136 SF
Price / SF$60.86
Days on Market374
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Property Features for 183 Mc Donnell Avenue Unit ALL
General Information
Standard status
Active
Size
37,136 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$23,000
Amenities
True
Three Or More
Central Air
Forced Air
Luxury Vinyl, Carpet
Dishwasher, Disposal, Microwave, Range, Refrigerator
Public
30
Inside, Washer Hookup
Ceiling Fan(s), Double Vanity, Granite Counters, High Speed Internet, His and Hers Closets, Kitchen Island, Open Floorplan, Recessed Lighting, Walk-In Closet(s), Wet Bar
30.00
Metal
Yes
In Ground
Balcony, Elevator
Security Gate
Pillar/Post/Pier
Siding
Building Details
Year Built
1985
Listing Agency:
Welcome Home Real Estate, Inc.
Listed By:
Tiffany Quave · License #S57886
(985) 629-1902
Source:
Compass
Added: Oct 7, 2025
Changed: Oct 11
Last Checked: Oct 15 at 1:03AM
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 Welcome Home Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 37,136 SF apartment property includes 15 income-producing condominiums with current leases in place. Each residence offers 2 bedrooms and 2 baths, along with walk-in closets, an open living arrangement, tile, stainless appliances, a wet bar, and a balcony oriented toward the in-ground pool. Central air, forced air heating, elevators, and gated security are also included. The property was built in 1985.
The property is located within one block of the beach. Four units operate as short-term rentals and are being offered fully furnished, while the remaining residences are included with current leases. The condominium layout and shared pool provide a consistent physical configuration across the property.
The property is located within one block of the beach. Four units operate as short-term rentals and are being offered fully furnished, while the remaining residences are included with current leases. The condominium layout and shared pool provide a consistent physical configuration across the property.
Key Highlights
- 15 income‑producing condos with current leases in place
- Each condo includes 2 bedrooms and 2 baths with walk‑in closets and balconies
- 37,136 SF apartment property built in 1985
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$207,676
Cap Rate
9.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,153,520
$4.2M
Cap Rate 7%
$2,966,800
$3.0M
Cap Rate 9%
$2,307,511
$2.3M
Market Conditions
NOI Build-Up for 37,136 SF
Gross rent
$410.0K $11.04/SF
− Vacancy
−$32.4K −$0.87/SF
EGI
$377.6K $10.17/SF
− OpEx
−$169.9K −$4.58/SF
NOI
$207.7K $5.59/SF
Area
Harrison County, MS
Vacancy
7.90%
Lease Rate
$11.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,153,520
Cap Rate 7%
$2,966,800
Cap Rate 9%
$2,307,511
Alternative Uses
Best Use
Apartment 5plus
$2.97M
$2.60M – $3.46M
NOI $207,676 @ 7.0% cap · market cap 9.19%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$5.98M
$5.23M – $6.98M
NOI $418,783 @ 7.0% cap · market cap 18.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
437
Businesses Nearby
Explore this area
Business Placement
Demographics for 39531, MS
19,965
Population
9,660
Households
2.1
Avg Household Size
36
Median Age
34%
College-Educated
91%
High-School Grad
6.6 sq mi
ZIP Area
3,025
Density / Sq Mi
$54,599
Median Household Income
$37,293
Median Earnings
$1,066
Median Rent
$193,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Income-producing apartment property with current leases and four furnished short-term rental units.
Where is this apartment building located?
The property is located at 183 Mc Donnell Avenue Unit ALL Biloxi, MS.
What is the asking price?
The asking price for this property is $2,260,000.
What are key features of this property?
This property features: 15 income‑producing condos with current leases in place; Each condo includes 2 bedrooms and 2 baths with walk‑in closets and balconies; 37,136 SF apartment property built in 1985
