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 Market215
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
Listed By:
Jason Hyde
(205) 516-6107
Source:
Svn
Added: Mar 6
Changed: Oct 1
Last Checked: Oct 5 at 5:23PM
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 / Yr
$132,079
Cap Rate
5.74%
Suggested Prices Based on Cap Rates
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
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 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
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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%.
