Long Beach Multifamily Investment
203 N Cleveland Ave, Long Beach, MS 39560
Multifamily property with amenities in desirable Long Beach location.
Type:Multifamily
Property size:
78,700 SFPrice / SF:
$108/SF- Added:
- Nov 21, 2025
- Days on Market:
- 177
- Last Refresh:
- Apr 6 at 12:09 am
Property Features for 203 N Cleveland Ave
General Information
- Standard status
- Active
- Size
- 78,700 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1984
Listing agent Andrew Agee (256) 653-0065
Listing office (256) 653-0065
Listing date Nov 21, 2025
Source Svn
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 Andrew Agee
HighLights
- High Occupancy Rate: Currently at 98%, indicating strong renter demand and immediate cash flow.
- Updated Property: Recent key improvements include replaced roofs, new siding, and upgraded French doors. 90% of units have undergone standard renovations.
- Desirable Location: Situated in Long Beach, MS, near beaches, downtown, the University of Southern Mississippi–Gulf Park campus, schools, shopping, dining, and healthcare.
- Strong Amenity Package: Features a pool, clubhouse, grilling & picnic area, dog park, and fitness center.
- Value‑Add Opportunity: Potential to increase revenue by continuing in‑place strategies of achieving market rent on remaining units.
- Stable Investment: Positioned to maintain stable occupancy and deliver consistent returns due to steady population growth and limited apartment supply.
Overview
Long Beach Square in Long Beach, MS, presents a multifamily investment opportunity. The property features a mix of one- and two-bedroom units with amenities and a location near schools, the beach, downtown Long Beach, and the University of Southern Mississippi–Gulf Park campus. Residents benefit from nearby shopping, dining, schools, and healthcare services. The property is positioned to maintain stable occupancy and deliver consistent returns due to steady population growth and limited apartment supply in the submarket. Situated in one of the Gulf Coast’s communities, Long Beach Square Apartments offers a community with amenities and updated units. Amenities include a pool, picnic areas, and landscaping. The property provides investors with a stable asset and potential for long-term value creation, supported by consistent population and economic growth in the region. Long Beach Square presents investors with the opportunity to acquire a stabilized, cash-flowing asset with avenues to increase total revenue by continuing in-place strategies of achieving market rent. New ownership will inherit an updated property with a lowered insurance cost. The property consists of 100 units over 78,700 square feet, built in 1984, with 98% occupancy. Key improvements include recently replaced roofs, new siding, and upgraded French Doors in all units. 90% of units have undergone standard renovations. Amenities include a pool, clubhouse, grilling and picnic area, dog park, and fitness center. The area surrounding the property offers amenities and attractions for residents, with proximity to the Gulf Coast, beaches, recreational activities, and waterfront views. The downtown area provides dining, shopping, and entertainment options, with access to schools, parks, and medical facilities.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$4.89M
NOI $440,115 @ 9.00% cap · cautious / downside scenario
Moderate
$6.29M
NOI $440,115 @ 7.00% cap · market / base-case scenario
Aggressive
$8.80M
NOI $440,115 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $868.8k | $11.04 |
| − Vacancy | −$68.6k | −$0.87 |
| EGI | $800.2k | $10.17 |
| − OpEx | −$360.1k | −$4.58 |
| NOI | $440.1k | $5.59 |
78,700 SF · lease $11.04/SF/yr · vacancy 7.90% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$6.29M
$5.50M – $7.34M
NOI $440,115 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$12.68M
$11.09M – $14.79M
NOI $887,500 @ 7.0% cap · market cap 10.44%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Long Beach Squar
Apartment Complex
Location Insight
- Map
- Local Demand
- City
- Long Beach
- County
- Harrison
- State
- Mississippi
- Longitude
- -89.1496
- Latitude
- 30.3572
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Multifamily property with amenities in desirable Long Beach location.
Where is this apartment building located?
The property is located at 203 N Cleveland Ave Long Beach, MS.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: High Occupancy Rate: Currently at 98%, indicating strong renter demand and immediate cash flow.; Updated Property: Recent key improvements include replaced roofs, new siding, and upgraded French doors. 90% of units have undergone standard renovations.; Desirable Location: Situated in Long Beach, MS, near beaches, downtown, the University of Southern Mississippi–Gulf Park campus, schools, shopping, dining, and healthcare.
