Fully Renovated 14-Unit Apartment
For Sale
$950,000
2524 28th Avenue, Gulfport, MS 39501
MULTI_FAMILY - Gulfport, MS
Property Size12,960 SF
Lot Size0.49 Acres
Price / SF$73.30
Days on Market9
Property Features for 2524 28th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
14
Bathrooms
14
Full bathrooms
14
Rooms
Bedroom 1, Bathroom 8, Bedroom 9, Bathroom 7, Bedroom 2, Bathroom 3, Bedroom 5, Bathroom 11, Bathroom 6, Bathroom 14, Bedroom 12, Bedroom 14, Bedroom 11, Bedroom 3, Bathroom 13, Bathroom 4, Bedroom 13, Bedroom 7, Bedroom 10, Bathroom 2, Bathroom 1, Bathroom 5, Bedroom 4, Bathroom 12, Bedroom 6, Bathroom 9, Bedroom 8, Bathroom 10
Subdivision
Standard Land
Lot features
City Lot, City Lot
Standard status
Active
APN
0810n-04-063.000
Size
12,960 SF
Lot size
0.49 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 9 & 10 BLK 24 STANDARD LAND
Tax Annual Amount
2766
Legal Description
LOTS 9 & 10 BLK 24 STANDARD LAND
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Water source
Public
Amenities
on-site coin-operated laundry facility
Building Details
Year built
1940
Floors in Building
1
Number of units
14
Flooring type
Vinyl, Carpet
Roof type
Asphalt
Listing Agency:
Keller Williams · Keller Williams Realty
(228) 275-7500
Listed By:
Nicole S Sanchez · License #B24326
(228) 243-1222
Added: Jul 28
Changed: Aug 5
Last Checked: Aug 5 at 4:06PM
MLS# 4157330
Copyright © 2026 MLS United. 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 fully renovated 14-unit multifamily property includes 3 newly constructed units built from the ground up (units 12, 13 and 14). The unit mix consists of 4 studio apartments and 10 one-bedroom apartments. Historically, the property has maintained an approximate 100% occupancy rate, reflecting strong and consistent rental demand. An on-site coin-operated laundry facility adds an additional income stream for ownership.
The property sits on a 0.49-acre lot with public utilities including electricity, public water, and public sewer. The building was constructed in 1940 and features an asphalt roof. Interior finishes include vinyl and carpet flooring.
Conveniently located just minutes from downtown Gulfport, the Gulf Coast beaches, and the Naval Construction Battalion Center (NCBC) Gulfport (Seabee Base), the property offers access to major employers and nearby shopping, dining, and entertainment for a broad range of tenants.
The property sits on a 0.49-acre lot with public utilities including electricity, public water, and public sewer. The building was constructed in 1940 and features an asphalt roof. Interior finishes include vinyl and carpet flooring.
Conveniently located just minutes from downtown Gulfport, the Gulf Coast beaches, and the Naval Construction Battalion Center (NCBC) Gulfport (Seabee Base), the property offers access to major employers and nearby shopping, dining, and entertainment for a broad range of tenants.
Key Highlights
- Approximate 100% historical occupancy rate
- 3 newly constructed units built from the ground up (units 12, 13 & 14)
- Unit mix: 4 studio apartments and 10 one‑bedroom apartments
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 | $143.1k | $11.04 |
| − Vacancy | −$11.3k | −$0.87 |
| EGI | $131.8k | $10.17 |
| − OpEx | −$59.3k | −$4.58 |
| NOI | $72.5k | $5.59 |
12,960 SF · lease $11.04/SF/yr · vacancy 7.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.04M
$906.0K – $1.21M
NOI $72,476 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$2.09M
$1.83M – $2.44M
NOI $146,150 @ 7.0% cap · market cap 15.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,157
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated 14-unit apartment property with studio and one-bedroom units plus an on-site coin-operated laundry facility.
Where is this apartment building located?
The property is located at 2524 28th Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Approximate 100% historical occupancy rate; 3 newly constructed units built from the ground up (units 12, 13 & 14); Unit mix: 4 studio apartments and 10 one‑bedroom apartments
