Property Description

Located in one of Gulfport's most desirable rental corridors, 5505 16th Ave S presents a rare opportunity to acquire a stabilized, cash-flowing triplex with diversified income streams and long-term upside. This well-maintained NON FLOOD ZONE property offers a total of three units with a strong mix of long-term and short-term rental income, making it ideal for investors seeking both stability and growth. Also, a great opportunity for those looking to HOUSE HACK and live in one unit and have the other two units cash flow make for free living!Unit 1 features a spacious 3-bedroom, 1-bath layout encompassing 1,086 square feet, currently leased as a long-term rental at $2,500 per month. Unit 2 is a 330-square-foot studio, also rented long-term at $1,500 per month, offering efficient living with strong tenant demand.Unit 3 is a 400-square-foot fully furnished studio operating as a short-term rental, generating $1,700 per month with an average nightly rate of $80 and approximately 75% occupancy, providing immediate upside through optimized short-term management. All three units are serviced by a shared laundry area, adding convenience for tenants and an additional value component for ownership. Major capital improvements include a new roof installed in 2019 and a sewer line replacement in 2019, significantly reducing future maintenance exposure and enhancing long-term asset durability. With a compelling blend of reliable long-term income and flexible short-term rental potential, this property is perfectly positioned for investors looking to maximize returns in a thriving coastal market. Whether held as a stabilized asset or further optimized for increased cash flow, 5505 16th Ave S stands out as a turnkey multifamily opportunity in Gulfport.

Property Features