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 Market10
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
(228) 324-7187
Listed By:
Alain Harpin · License #B20368
Source:
Propertiesnorthms
Added: Jul 21
Changed: Jul 26
Last Checked: Jul 29 at 7:30AM
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 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 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 | $82.4k | $11.04 |
| − Vacancy | −$6.5k | −$0.87 |
| EGI | $75.9k | $10.17 |
| − OpEx | −$34.2k | −$4.58 |
| NOI | $41.8k | $5.59 |
7,466 SF · lease $11.04/SF/yr · vacancy 7.90% · expense 45.00%
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.
Property Analytics
Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
382
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 - 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
