5420 28th St, Gulfport, MS 39501, Gulfport, MS 39501
sale
$629,900
|
Single Family Attached
Courtesy Of Coldwell Banker Alfonso Realty, Inc.
PRICE IMPROVEMENT - NOW $629,900, $105,100 BELOW ORIGINAL LIST. Rare investment opportunity directly across from the north entrance of Naval Construction Battalion Center (NCBC) Gulfport - one of the Gulf Coast's most reliable demand drivers for residential rentals. This 13-unit mixed-use portfolio spans two adjacent parcels (5400 & 5420 28th St) and includes twelve 2-bedroom/1-bath apartments plus one studio. The twelve apartments, in three residential buildings, are 100% leased and generate $8,490/month ($101,880/year). At the new price that is $48,454 per unit and a 6.18x gross rent multiplier. THREE COMPONENTS AT NO ASSIGNED VALUE. All current income comes from the twelve apartments. A buyer also receives a vacant 600 SF commercial space, a non-operating on-site laundry, and a vacant studio apartment that needs renovation. Each is a near-term income project requiring capital and effort only - no rezoning, no entitlement, no repositioning risk. RENTS ARE RISING. Three units renewed this summer at higher rents on terms running into 2027, and five of the twelve apartments now lease at $725. In-place rents average $708 against a Gulfport market of $850-$1,100+ for comparable 2-bedroom units, leaving meaningful upside through ordinary turnover with no displacement. Bring the studio, commercial space, and laundry online and stabilized gross potential approaches $13,100/month. DOCUMENTED OPERATING PICTURE. Property taxes on both parcels total $6,456/year. Insurance runs $13,125/year on the owner's existing policy. Water and sewer on the master meter run approximately $862/month; dumpster is owner-paid. Two years of QuickBooks P&Ls, a unit-by-unit rent roll, executed leases, tax records, and utility billing are available to qualified buyers, along with a full investor offering package. Built 1979, 8,700 SF on 0.62 acres in Kennelworth Park. Zoned commercial/multifamily. The property completed a full round of buyer due diligence earlier this year and returned to market on a buyer financing failure, not an inspection issue. Seller is motivated. Ideal for a 1031 exchange buyer, regional multifamily operator, or value-add investor. Do not disturb tenants - showings by appointment only. All information deemed reliable but not guaranteed; buyer to verify all data.
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Copyright © 2026 Coldwell Banker. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Property Features
- Age: 41-50 Years Old
- Architecture Style: Other
- MLSID: 4150839
- Rooms: Bedroom 10
- Rooms: Bedroom 21
- Rooms: Bedroom 20
- Rooms: Bedroom 14
- Rooms: Bedroom 13
- Rooms: Bedroom 24
- Rooms: Bedroom 12
- Rooms: Bedroom 23
- Rooms: Bedroom 22
- Rooms: Bedroom 11
- Rooms: Bedroom 18
- Rooms: Bedroom 17
- Rooms: Bedroom 16
- Rooms: Bedroom 15
- Rooms: Bedroom 3
- Rooms: Bedroom 2
- Rooms: Bedroom 1
- Rooms: Bedroom 19
- Rooms: Bedroom 7
- Rooms: Bedroom 6
- Rooms: Bedroom 5
- Rooms: Bedroom 4
- Rooms: Bedroom 9
- Rooms: Bedroom 8
Data powered by Attom Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
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