13-Unit Apartment
5420 28th Street, Gulfport, MS 39501
For Sale
$629,900
Residential Income, Gulfport, MS
Property Size8,700 SF
Lot Size0.62 Acres
Price / SF$72.40
Days on Market169
Property Features for 5420 28th Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Window features
Patio and Porch features
Pets allowed
Appliances
Subdivision
Lot features
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Cooling system
Water source
Amenities
on-site laundry
Building Details
Year built
Floors in Building
Number of units
Flooring type
Roof type
Listing Agency:
Coldwell Banker Alfonso Realty-Lorraine Rd · Coldwell Banker Real Estate
(228) 287-1000
Listed By:
Philip J Leblanc · License MS S30047
(228) 860-0082
Added: May 28
Changed: Nov 3
Last Checked: Nov 12 at 6:06PM
MLS# 4150839
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 13-unit property comprises three residential buildings with twelve two-bedroom, one-bath apartments and one studio. The apartments are leased; the studio is vacant and requires renovation. The property also includes a vacant 600-square-foot commercial space and an on-site laundry that is not operating. Public water and sewer serve the property, with central heating and air conditioning listed among its features.
The buildings sit on two adjacent parcels totaling 0.62 acres, directly across from the north entrance of Naval Construction Battalion Center Gulfport. The property was built in 1979 and contains 8,700 square feet. Its zoning is commercial/multifamily.
The buildings sit on two adjacent parcels totaling 0.62 acres, directly across from the north entrance of Naval Construction Battalion Center Gulfport. The property was built in 1979 and contains 8,700 square feet. Its zoning is commercial/multifamily.
Key Highlights
- 12 leased two‑bedroom, one‑bath apartments across three residential buildings
- One vacant studio apartment requiring renovation
- Vacant 600 SF commercial space and non‑operating on‑site laundry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,653
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$973,060
$973.1K
Cap Rate 7%
$695,043
$695.0K
Cap Rate 9%
$540,589
$540.6K
Market Conditions
NOI Build-Up for 8,700 SF
Gross rent
$96.0K $11.04/SF
− Vacancy
−$7.6K −$0.87/SF
EGI
$88.5K $10.17/SF
− OpEx
−$39.8K −$4.58/SF
NOI
$48.7K $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%
$973,060
Cap Rate 7%
$695,043
Cap Rate 9%
$540,589
Alternative Uses
Best Use
Mixed Use
$880.9K
$770.8K – $1.03M
NOI $61,661 @ 7.0% cap · market cap 9.79%
Second Best
Apartment 5plus
$695.0K
$608.2K – $810.9K
NOI $48,653 @ 7.0% cap · market cap 7.72%
Theoretical Best
Healthcare Medical
$1.40M
$1.23M – $1.64M
NOI $98,110 @ 7.0% cap · market cap 15.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
13
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
36
Businesses Nearby
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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
$115,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Three residential buildings combine leased apartments with vacant commercial and studio space.
Where is this apartment building located?
The property is located at 5420 28th Street Gulfport, MS.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: 12 leased two‑bedroom, one‑bath apartments across three residential buildings; One vacant studio apartment requiring renovation; Vacant 600 SF commercial space and non‑operating on‑site laundry
