Multifamily Investment Near Gulf
707 E North St Pass Christian, MS 39571
707 E North St, Pass Christian, MS, 39571
$8,000,000
For Sale
$8,000,000
100-unit multifamily property near the beach and downtown.
Property Size100,177 SF
Price / SF$79.86
Days on Market237
Property Features for 707 E North St
General Information
- Standard status
- Active
- Size
- 100,177 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1998
Listing Agency
(256) 653-0065
Listed by
Andrew Agee
(256) 653-0065
Source
Svn
Added: Nov 21, 2025 Checked: Jul 16 at 5:02 am
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.
Local 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 | $1.11M | $11.04 |
| − Vacancy | −$87.4k | −$0.87 |
| EGI | $1.02M | $10.17 |
| − OpEx | −$458.4k | −$4.58 |
| NOI | $560.2k | $5.59 |
100,177 SF · lease $11.04/SF/yr · vacancy 7.90% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Pass Christian City ...
Fire Station
Liberty Construction, LLC
Construction Company
Caribbean in the Pass Apartments
Apartment Building
Caribbean In The Pass
Vacation Rental
CFJM Holdings LLC
Apartment Building
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FAQs
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.
