Multifamily Investment Near Gulf
For Sale
$8,000,000
707 E North St, Pass Christian, MS 39571
100-unit multifamily property near the beach and downtown.
Property Size100,177 SF
Price / SF$79.86
Days on Market328
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Property Features for 707 E North St
General Information
Standard status
Active
Size
100,177 SF
Property subtype
Multifamily
Building Details
Building Size
100,177 SF
Year Built
1998
Listed By:
Andrew Agee
(256) 653-0065
Source:
Svn
Added: Nov 21, 2025
Changed: Oct 10
Last Checked: Oct 14 at 7:56PM
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
Investment Insights
Based on property information with market context.
Located in Pass Christian, MS, the property at 707 E North St presents an investment opportunity with an overall footprint of 100,177 SF and 100 units. Constructed in 1998, this multifamily property is positioned minutes from the beach and downtown. The property features two- and three-bedroom floor plans, along with amenities such as a pool, business center, and picnic areas. The property benefits from pet-friendly policies and Section 8 acceptance. Key investments to the community and exterior improvements have recently been completed. The property has an impressive record of rent growth with additional value add opportunity. The property is near the heart of downtown and just minutes from the Gulf Coast. The location is near the Pass Christian Harbor and the Pass Christian Yacht Club. The property is currently 92% occupied.
Key Highlights
- Prime location minutes from the beach and downtown Pass Christian, offering coastal living and convenience.
- Stabilized, cash‑flowing asset with a 92% occupancy rate.
- Opportunity to increase revenue through continued rental increases and lowered insurance expenses.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$560,221
Cap Rate
7.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$11,204,420
$11.2M
Cap Rate 7%
$8,003,157
$8.0M
Cap Rate 9%
$6,224,678
$6.2M
Market Conditions
NOI Build-Up for 100,177 SF
Gross rent
$1.11M $11.04/SF
− Vacancy
−$87.4K −$0.87/SF
EGI
$1.02M $10.17/SF
− OpEx
−$458.4K −$4.58/SF
NOI
$560.2K $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%
$11,204,420
Cap Rate 7%
$8,003,157
Cap Rate 9%
$6,224,678
Alternative Uses
Best Use
Apartment 5plus
$8.00M
$7.00M – $9.34M
NOI $560,221 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$16.14M
$14.12M – $18.83M
NOI $1,129,696 @ 7.0% cap · market cap 14.12%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Explore this area
Business Placement
Demographics for 39571, MS
14,892
Population
6,790
Households
2.2
Avg Household Size
44
Median Age
33%
College-Educated
92%
High-School Grad
86.0 sq mi
ZIP Area
173
Density / Sq Mi
$64,469
Median Household Income
$41,696
Median Earnings
$1,004
Median Rent
$233,000
Median Home Value
Check the figures for this property
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 - 100-unit multifamily property near the beach and downtown.
Where is this apartment building located?
The property is located at 707 E North St Pass Christian, MS.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Prime location minutes from the beach and downtown Pass Christian, offering coastal living and convenience.; Stabilized, cash‑flowing asset with a 92% occupancy rate.; Opportunity to increase revenue through continued rental increases and lowered insurance expenses.
