13-Unit Apartment
For Sale
$629,900
5420 28th Street, Gulfport, MS 39501
Residential Income, Gulfport, MS
Property Size8,700 SF
Lot Size0.62 Acres
Price / SF$72.40
Days on Market148
Property Features for 5420 28th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
24
Bathrooms
12
Full bathrooms
12
Rooms
Bathroom 11, Bedroom 5, Bathroom 7, Bedroom 13, Bedroom 11, Bathroom 10, Bedroom 24, Bedroom 18, Bedroom 21, Bathroom 5, Bedroom 17, Bedroom 15, Bedroom 9, Bedroom 19, Bedroom 8, Bedroom 2, Bedroom 14, Bathroom 12, Bedroom 12, Bedroom 6, Bedroom 23, Bathroom 6, Bedroom 10, Bathroom 9, Bathroom 8, Bathroom 3, Bedroom 7, Bedroom 22, Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 20, Bathroom 4, Bedroom 4, Bedroom 16, Bathroom 2
Parking
24
Window features
Aluminum Frames
Patio and Porch features
Porch
Pets allowed
Cats OK, Breed Restrictions, Dogs OK
Appliances
Range, Refrigerator, Range, Electric Water Heater
Subdivision
Kennelworth Park
Lot features
Corner Lot, Level, Dumpster, Corner Lot, Level, Dumpster
Directions
From Canal Road, go East on 28th Street. From 25th Ave (Hwy 49), go West on 28th Street. Located across the street from the Navy SeaBee Base North Gate.
Standard status
Active
APN
0710n-03-028.000
Size
8,700 SF
Lot size
0.62 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOTS 11 TO 18 INC BLK 10 KENELSWORTH PARK SEC 31-7-11
Tax Annual Amount
5694
Legal Description
LOTS 11 TO 18 INC BLK 10 KENELSWORTH PARK SEC 31-7-11
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1979
Floors in Building
1
Number of units
13
Flooring type
Tile - Ceramic
Roof type
Shingle
Listing Agency:
Coldwell Banker Alfonso Realty-Lorraine Rd · Coldwell Banker Real Estate
(228) 287-1000
Listed By:
Philip J Leblanc · License #S30047
(228) 860-0082
Added: May 28
Changed: Oct 21
Last Checked: Oct 22 at 1:06AM
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.
Across two adjacent parcels, this 13-unit property includes three residential buildings with twelve two-bedroom, one-bath apartments and a one-bedroom studio. The apartments are fully leased; the studio is vacant and needs renovation. A separate 600-square-foot commercial space is also vacant, and the on-site laundry facility is not operating. The property was built in 1979 and totals 8,700 square feet on 0.62 acres. It is zoned commercial/multifamily.
The property is located directly across from the north entrance to Naval Construction Battalion Center Gulfport. Public water and sewer serve the site, and cable is available. Current residents occupy the twelve apartments; showings are by appointment, with tenants not to be disturbed.
The property is located directly across from the north entrance to Naval Construction Battalion Center Gulfport. Public water and sewer serve the site, and cable is available. Current residents occupy the twelve apartments; showings are by appointment, with tenants not to be disturbed.
Key Highlights
- 13 units across two adjacent parcels
- Twelve two‑bedroom, one‑bath apartments are fully leased
- One‑bedroom studio is vacant and needs renovation
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.
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Current Use
Lease Details
13
Residential units
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
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - A Gulfport rental property pairs occupied apartments with a vacant studio, commercial space, and on-site laundry facility.
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: 13 units across two adjacent parcels; Twelve two‑bedroom, one‑bath apartments are fully leased; One‑bedroom studio is vacant and needs renovation
