Two-Story Brick Multifamily
For Sale
$995,000
951 Vision Oaks Blvd, Gulfport, MS 39507
Two 3,600-sf two-story brick buildings offer a mix of 3BR units and fully occupied income units.
Property Size7,466 SF
Lot Size0.69 Acres
Price / SF$133.27
Days on Market141
Property Features for 951 Vision Oaks Blvd
General Information
Standard status
Active
Size
7,466 SF
Lot size
0.69 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
11
Building Details
Year Built
1987
Stories
2
Listing Agency:
Southern Way Realty
Listed By:
Alain Harpin · License #B20368
(228) 324-7187
Source:
Propertiesnorthms
Added: Jun 11
Changed: Oct 25
Last Checked: Oct 28 at 8:33AM
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
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Investment Insights
Based on property information with market context.
This property includes two 3,600-sf, two-story brick apartment buildings on approximately 0.69 acres. Building 1 features second-floor units consisting of two 3BR/1.5BA apartments. The first floor consists of three single rooms and two deluxe rooms with baths, with first-floor units sharing a common kitchen, living area, and two baths.
Building 2 includes four 3BR/1.5BA units, with two units upstairs and two units downstairs. The property is currently fully occupied in Building 2.
Reported income includes one 3BR unit at $595/month (with a manager discount noted) and one deluxe single at $595/month in Building 1. Building 2 is listed as four units at $1,300/month each.
Building 2 includes four 3BR/1.5BA units, with two units upstairs and two units downstairs. The property is currently fully occupied in Building 2.
Reported income includes one 3BR unit at $595/month (with a manager discount noted) and one deluxe single at $595/month in Building 1. Building 2 is listed as four units at $1,300/month each.
Key Highlights
- Two 3,600‑sf, 2‑story brick buildings on 0.69 AC, built in 1987
- Bldg 1: Two 3BR/1.5BA units on the second floor
- Bldg 1: Five first‑floor units with shared common kitchen, living area, and two baths
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,752
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$835,040
$835.0K
Cap Rate 7%
$596,457
$596.5K
Cap Rate 9%
$463,911
$463.9K
Market Conditions
NOI Build-Up for 7,466 SF
Gross rent
$82.4K $11.04/SF
− Vacancy
−$6.5K −$0.87/SF
EGI
$75.9K $10.17/SF
− OpEx
−$34.2K −$4.58/SF
NOI
$41.8K $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%
$835,040
Cap Rate 7%
$596,457
Cap Rate 9%
$463,911
Alternative Uses
Best Use
Apartment 5plus
$596.5K
$521.9K – $695.9K
NOI $41,752 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.20M
$1.05M – $1.40M
NOI $84,194 @ 7.0% cap · market cap 8.46%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Two 3,600-sf two-story brick buildings offer a mix of 3BR units and fully occupied income units.
Where is this apartment building located?
The property is located at 951 Vision Oaks Blvd Gulfport, MS.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Two 3,600‑sf, 2‑story brick buildings on 0.69 AC, built in 1987; Bldg 1: Two 3BR/1.5BA units on the second floor; Bldg 1: Five first‑floor units with shared common kitchen, living area, and two baths
