Gulfport Multifamily Investment
For Sale
$2,300,000
801 Oakleigh Ave, Gulfport, MS 39507
Multifamily property with strong investment potential near Gulfport's downtown.
Property Size23,618 SF
Price / SF$97.38
Days on Market169
Property Features for 801 Oakleigh Ave
General Information
Standard status
Active
Size
23,618 SF
Property subtype
Multifamily
Building Details
Building Size
23,618 SF
Year Built
2007
Listing Agency:
(205) 516-6107
Listed By:
Jason Hyde
Source:
Svn
Added: Mar 6
Changed: Aug 14
Last Checked: Aug 22 at 4:06AM
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 Jason Hyde
Investment Insights
Based on property information with market context.
Oakleigh Apartments in Gulfport, MS, presents a multifamily investment opportunity. Constructed in 2007, the property features mostly brick building exteriors and concrete parking areas. The property contains 24 units with 23,618 rentable square feet, offering a mix of two- and three-bedroom units. The location is just minutes from the beach and downtown Gulfport. Residents benefit from nearby shopping, dining, schools, and healthcare services. Gulfport is one of the Mississippi Gulf Coast’s largest and most economically diverse cities, offering investors a balance of affordability, employment stability, and coastal lifestyle appeal. The city serves as a regional hub anchored by the Port of Gulfport, Ingalls Shipbuilding, Memorial Health System, and Keesler Air Force Base. The property has maintained 100% occupancy for the past twelve months.
Key Highlights
- 100% occupancy for the past twelve months.
- Strong investment opportunity with anticipated cash‑on‑cash just above 6.6% and IRR exceeding 15.8%.
- Favorable financial metrics: Expense‑adjusted T‑3 cap rate of 6.97% and projected Year 1 cap rate of 7.31%.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$132,079
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,641,580
$2.6M
Cap Rate 7%
$1,886,843
$1.9M
Cap Rate 9%
$1,467,544
$1.5M
Market Conditions
NOI Build-Up for 23,618 SF
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.
Gross rent
$260.7K $11.04/SF
− Vacancy
−$20.6K −$0.87/SF
EGI
$240.1K $10.17/SF
− OpEx
−$108.1K −$4.58/SF
NOI
$132.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,641,580
Cap Rate 7%
$1,886,843
Cap Rate 9%
$1,467,544
Alternative Uses
Best Use
Apartment 5plus
$1.89M
$1.65M – $2.20M
NOI $132,079 @ 7.0% cap · market cap 5.74%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$3.80M
$3.33M – $4.44M
NOI $266,340 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with strong investment potential near Gulfport's downtown.
Where is this apartment building located?
The property is located at 801 Oakleigh Ave Gulfport, MS.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: 100% occupancy for the past twelve months.; Strong investment opportunity with anticipated cash‑on‑cash just above 6.6% and IRR exceeding 15.8%.; Favorable financial metrics: Expense‑adjusted T‑3 cap rate of 6.97% and projected Year 1 cap rate of 7.31%.
