15-Unit Apartment
511 32nd Street, Gulfport, MS 39507
For Sale
$699,900
Pending
Residential Income, Gulfport, MS
Property Size10,276 SF
Lot Size0.33 Acres
Days on Market254
Property Features for 511 32nd Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Window features
Exterior features
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
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Building Details
Year built
Floors in Building
Number of units
Flooring type
Roof type
Listing Agency:
Beau Vue Realty, LLC
(228) 819-2091
Listed By:
Monique C Ward · License MS B21551
(228) 327-4814
Added: Mar 4
Changed: Nov 10
Last Checked: Nov 12 at 6:06PM
MLS# 4141295
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.
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Investment Insights
Based on property information with market context.
This 15-unit apartment property in Gulfport contains 10,276 square feet on a 0.33-acre parcel. The unit mix comprises 11 one-bedroom, one-bath apartments, three two-bedroom, one-bath apartments, and one two-bedroom, two-bath apartment. Built in 1965, the property has received exterior updates including vinyl siding, refreshed soffit and fascia, exterior lighting, and replacement upstairs railings. Interior work in several lower-level apartments includes updated finishes, fixtures, cabinets, vanities, sinks, and appliances. Four mini-split systems and one conventional HVAC unit have also been added.
The property is at 511 32nd Street in Gulfport. Nearby destinations listed include the Port of Gulfport, Gulfport-Biloxi International Airport, Jones Park, Gulfport Small Craft Harbor, and Mississippi Aquarium. Public water service and public sewer serve the property.
The property is at 511 32nd Street in Gulfport. Nearby destinations listed include the Port of Gulfport, Gulfport-Biloxi International Airport, Jones Park, Gulfport Small Craft Harbor, and Mississippi Aquarium. Public water service and public sewer serve the property.
Key Highlights
- 15 apartments totaling 10,276 square feet on 0.33 acres
- Unit mix: 11 one‑bedroom/one‑bath, 3 two‑bedroom/one‑bath, and 1 two‑bedroom/two‑bath
- Built in 1965
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,467
Cap Rate
8.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,149,340
$1.1M
Cap Rate 7%
$820,957
$821.0K
Cap Rate 9%
$638,522
$638.5K
Market Conditions
NOI Build-Up for 10,276 SF
Gross rent
$113.4K $11.04/SF
− Vacancy
−$9.0K −$0.87/SF
EGI
$104.5K $10.17/SF
− OpEx
−$47.0K −$4.58/SF
NOI
$57.5K $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%
$1,149,340
Cap Rate 7%
$820,957
Cap Rate 9%
$638,522
Alternative Uses
Best Use
Apartment 5plus
$821.0K
$718.3K – $957.8K
NOI $57,467 @ 7.0% cap · market cap 8.21%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.66M
$1.45M – $1.93M
NOI $115,882 @ 7.0% cap · market cap 16.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
468
Businesses Nearby
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Business Placement
Demographics for 39507, MS
17,724
Population
9,032
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
91%
High-School Grad
8.2 sq mi
ZIP Area
2,161
Density / Sq Mi
$49,459
Median Household Income
$37,660
Median Earnings
$1,121
Median Rent
$220,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Gulfport, MS
Properties on Market for Apartment buildings in Gulfport
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Exterior work and interior renovations complement a mix of one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 511 32nd Street Gulfport, MS.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 15 apartments totaling 10,276 square feet on 0.33 acres; Unit mix: 11 one‑bedroom/one‑bath, 3 two‑bedroom/one‑bath, and 1 two‑bedroom/two‑bath; Built in 1965
