5420 28th Street, Gulfport, MS 39501
5420 28th Street, Gulfport, MS 39501
5420 28th Street, Gulfport, MS 39501
124
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$699,900
Est. payment /mo
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24 Beds
12 Baths
8,700 SqFt
Active

5420 28th Street Gulfport, MS 39501

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Madonna Shannon

Madonna Shannon

+1(214) 901-0149

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Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 8,700 sqft

Price per Sqft $80

Subdivision Kennelworth Park

MLS Listing ID 4150839

Style Traditional

Bedrooms 24

Full Baths 12

Year Built 1979

Annual Tax Amount $5,694

Lot Size 0.620 Acres

Acres 0.62

Lot Dimensions 210' x 129'

Source MLS United

Property Description

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. Remaining units still sit below Gulfport market rates of $850-$1,100+/month for 2-bedroom units, offering further gains through natural lease turnover with no forced displacement. THREE UNCAPTURED INCOME STREAMS. All current income comes from the twelve apartments. A buyer additionally receives, at no assigned value: a vacant 600 SF commercial space; a non-operating on-site laundry facility; and a vacant studio apartment behind the laundry and commercial space that needs renovation. Each is a near-term income project requiring capital and effort only — no rezoning, no entitlement, no repositioning risk. Renovate and lease the studio, bring the commercial space online, restore the laundry, and continue market-rate turnover, and stabilized gross income potential approaches $13,100+/month. Built 1979, 8,700 SF on 0.62 acres in Kennelworth Park. Combined annual property taxes on both parcels total just $6,456. Water and dumpster service are owner-paid and documented. Zoned commercial/multifamily. Seller is motivated and has demonstrated it with a real price reduction. The file is clean — this property completed a full round of buyer due diligence earlier this summer, so QuickBooks P&L, verified rent roll, and executed lease documentation are assembled and available to qualified buyers on request. 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.

Location

State MS

County Harrison

Direction From Canal Road, go East on 28th Street. From 25th Ave (Hwy 49), go West on 28th Street. Located across the street from the Navy SeaBee Base North Gate.

Interior

Interior Features Open Floorplan

Heating Central, Electric

Cooling Central Air, Electric

Flooring Ceramic Tile

Furnishings No

Window Features Aluminum Frames

Appliance Electric Water Heater, Range, Refrigerator

Laundry See Remarks

Exterior

Exterior Feature None

Parking Features Common, Concrete

Utilities Available Cable Available, Electricity Connected, Sewer Connected, Water Connected

Waterfront Description None

Roof Type Architectural Shingles

Porch Front Porch

Garage No

Building

Lot Description Corner Lot, Level, Dumpster

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Traditional

Level or Stories One

Structure Type None

New Construction No

Others

Tax ID 0710n-03-028.000

Pets Allowed Breed Restrictions, Cats OK, Dogs OK

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MLS United(Mississippi)
Information is deemed to be reliable but not guaranteed. Copyright © 2026 MLS United, LLC.
Listed by Coldwell Banker Alfonso Realty-Lorraine Rd

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Madonna Shannon

Madonna Shannon

Agent | License ID: 54315

+1(214) 901-0149

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5420 28th Street