5420 28th Street, Gulfport, MS 39501

Gulfport
Local realty services provided by:ERA TOP AGENT REALTY
5420 28th Street,Gulfport, MS 39501
$699,900
Virtual Tour
  • 24 Beds
  • 12 Baths
  • 8,700 sq. ft.
  • Multi-family
  • Active
Listed by: philip j leblanc
Office: coldwell banker alfonso realty-lorraine rd
MLS#:4150839
Source:MS_UNITED

Price summary

  • Price:$699,900
  • Price per sq. ft.:$80.45

About this home

PRICE IMPROVEMENT — $35,100 REDUCTION. 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 income portfolio spans two adjacent parcels (5400 & 5420 28th St) and includes twelve 2-bedroom/1-bath units and one 1-bedroom studio. The twelve apartments, located in three residential buildings, are 100% leased and generate $9,000/month ($108,000/year) in current gross rents. At the reduced price that is $53,838 per unit and a 6.48x gross rent multiplier. THE VALUE-ADD THESIS IS ALREADY PROVING OUT. Two units were just re-leased off expired terms at market-tested rents — 5430 D went from $595 to $725/month and 5420 D from $525 to $695/month, both under new leases through September 1, 2027. That is $300/month in new income on two doors alone, plus more than twelve months of contracted revenue for a new owner from closing....

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Home facts

  • Year built:1979
  • Subdivision & Development:Kennelworth Park
  • Listing ID #:4150839
  • Added:79 day(s) ago
  • Updated:August 16, 2026 at 03:05 PM

Rooms and interior

  • Bedrooms:24
  • Total bathrooms:12
  • Full bathrooms:12
  • Flooring:Ceramic Tile
  • Living area:8,700 sq. ft.

Heating and cooling

  • Cooling:Central Air, Electric
  • Heating:Central, Electric
  • Central air:Yes

Structure and exterior

  • Year built:1979
  • Building area:8,700 sq. ft.
  • Lot area:0.62 Acres
  • Lot Features:Corner Lot, Dumpster, Level
  • Architectural Style:Traditional
  • Construction Materials:Brick, Wood Siding
  • Foundation Description:Slab
  • Levels:1 Story

Utilities

  • Water:Public
  • Sewer:Public Sewer, Sewer Connected

Finances and disclosures

  • Price:$699,900
  • Price per sq. ft.:$80.45
  • Tax amount:$5,694 (2025)

Features and amenities

  • Amenities:Aluminum Frames, Open Floorplan

Parking

  • Total parking spaces:24
  • Parking description:Common, Concrete

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