Updated 8-Unit Apartment
807 Hardy Avenue Gulfport, MS 39501
For Sale
$600,000
Turn-key eight-unit property with four townhomes and four flats, all fully occupied and professionally maintained.
Property Size6,406 SF
Price / SF$93.66
Days on Market314
Property Features for 807 Hardy Avenue
General Information
Standard status
Active
Size
6,406 SF
Property subtype
Multi Family
Building Details
Year Built
1978
Listing Agency:
Southern Way Realty
(228) 324-7187
Listed By:
Alain Harpin · License #B20368
(228) 324-7187
Source:
Compass
Added: Sep 18, 2025
Changed: Jul 21
Last Checked: Jul 27 at 1:39PM
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 Southern Way Realty
Investment Insights
Based on property information with market context.
This updated eight-unit apartment building is offered as a turn-key investment. The property is configured with four townhomes and four flats and is fully occupied with professional onsite maintenance. Recent capital improvements include a new roof, new exterior paint, and blown-in R19 insulation. Interior updates include vinyl plank flooring, updated mechanicals, and fresh paint throughout. A shared washer/dryer utility is available to residents.
The property is located at 807 Hardy Avenue in Gulfport, just south of the tracks, in an area described as mostly owner-occupied. It sits near Island View Casino and local retail, dining, and essential services.
Current rents are reported to range from $775 to $800, with one furnished unit at $925. The property is reported to generate $6,520 in monthly gross income.
The property is located at 807 Hardy Avenue in Gulfport, just south of the tracks, in an area described as mostly owner-occupied. It sits near Island View Casino and local retail, dining, and essential services.
Current rents are reported to range from $775 to $800, with one furnished unit at $925. The property is reported to generate $6,520 in monthly gross income.
Key Highlights
- 8‑plex built in 1978 near the beach on the Gulfport/Long Beach line; south of the tracks in a mostly owner‑occupied area
- Unit mix: 4 townhomes and 4 flats; fully occupied and professionally maintained
- Recent capital improvements include a new asphalt shingle roof, new exterior paint, and blown‑in R19 insulation
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 | $70.7k | $11.04 |
| − Vacancy | −$5.6k | −$0.87 |
| EGI | $65.1k | $10.17 |
| − OpEx | −$29.3k | −$4.58 |
| NOI | $35.8k | $5.59 |
6,406 SF · lease $11.04/SF/yr · vacancy 7.90% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$511.8K
$447.8K – $597.1K
NOI $35,824 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.03M
$903.0K – $1.20M
NOI $72,240 @ 7.0% cap · market cap 12.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Multifamily property - Turn-key eight-unit property with four townhomes and four flats, all fully occupied and professionally maintained.
Where is this multifamily property located?
The property is located at 807 Hardy Avenue Gulfport, MS.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 8‑plex built in 1978 near the beach on the Gulfport/Long Beach line; south of the tracks in a mostly owner‑occupied area; Unit mix: 4 townhomes and 4 flats; fully occupied and professionally maintained; Recent capital improvements include a new asphalt shingle roof, new exterior paint, and blown‑in R19 insulation
