Map of Property

Chalet Apartments

For Sale

1615 Thornton Ave, Gulfport, MS 39501

This Gulfport property for sale is located at 1615 Thornton Ave. The general use of Chalet Apartments is multi-family and it incorporates 33,807 square feet of class B multi-family space. The current listed sale price for Chalet Apartments is $3,231,836. Chalet Apartments is situated on a lot that is 0.92 acre in size.

Contacts

broker
Doug Molyneaux

Molyneaux Group

Property Details

  • Property Type Multi-Family
  • Property Size 33,807 SF
  • Units 36
  • Lot Size 0.92 Acre
  • Building Class B
  • Year Built 1970
  • Year Renovated 2024
  • Date Updated Sep 3, 2025
Gulfport is the second largest city in Mississippi and the hub of the Coast. Home to the international airport, the state’s busiest port, and key retail and commercial corridors, Gulfport offers both economic opportunity and lifestyle appeal. Its central location makes it highly accessible, while proximity to jobs, schools, healthcare, and the waterfront creates a strong draw for renters. Gulfport’s rental market benefits from steady demand, competitive affordability compared to neighboring states, and the cultural vibrancy of a growing coastal city.Chalet Apartments is a newly renovated 36-unit apartment complex located adjacent to one of Gulfport's oldest and most desirable neighborhoods. Located a block from the beach and minutes from downtown, Gulfport/Biloxi International Airport, and the Mississippi Aquarium, Chalet offers tenants an unbeatable combination of convenience, lifestyle, and coastal charm. The current owner has invested more than $750,000 in capital improvements in the past 2 years. Improvements include 32 of 36 units fully renovated, new roof, balcony and railing repairs, aluminum wiring remediation, parking lot resurfacing & restriping, updated laundry facilities, a renovated pool, and enhanced security systems. The few remaining legacy units are in good and serviceable condition and provide an immediate light value-add component for a new investor.
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Highlights

  • 36 Units
  • 5-year IRR - over 25%
  • 7.50% Cap Rate
  • Adjacent to one of the Mississippi Gulf Coast's most desirable neighborhoods
  • Aluminum wiring remediation - CPSC connectors
  • Located 1 block from the beach
  • Minutes from downtown Gulfport & Mississippi Aquarium
  • New laundry equipment
  • New Roof
  • Over $750,000 in recent capital improvements completed by current owner
  • Recent parking resurfacing and restriping
  • Recent pool refurbishment
  • Recent structural balcony and railing repairs
  • Security system upgrades

Getting around

  • 37/100

    Walk Score ®

  • 53/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Gulfport, MS
  • Zip Code 39501

Points of Interest

  • Gulfport (opens February 2025)

    1.03 miles

  • Chevron

    0.39 miles

  • Clark's

    1.81 miles

  • Kangaroo Express

    2.49 miles

  • Exxon

    2.52 miles

  • Shell

    3.86 miles

  • Walmart

    4.04 miles

  • Sam's Club

    4.68 miles

  • IVCR Employee parking

    1.36 miles

  • Hardy Hall Parking Lot

    3.77 miles

  • Tennis Court Parking Lot

    3.79 miles

  • Lofty Lot

    3.86 miles

  • Courtyard by Marriott Gulfport Beachfront

    0.22 miles

  • The Oasis Resort - South

    1.51 miles

  • The Oasis Resort - North

    1.51 miles

  • Grand Centennial Hotel

    1.60 miles

  • Holiday Inn Express

    2.26 miles

  • Value Place Gulfport, Mississippi

    2.50 miles

  • WoodSpring Suites

    2.72 miles

  • Hilton Garden Inn

    2.99 miles

  • Residence Inn

    3.00 miles

  • Comfort Suites Gulfport

    3.11 miles

  • Save-A-Lot

    0.87 miles

  • Walmart Supercenter

    3.54 miles

  • Walmart Neighborhood Market

    3.97 miles

  • Gulfport Premium Outlets

    4.10 miles

  • Winn-Dixie

    4.38 miles

  • Ross

    4.56 miles

  • TJ Maxx

    4.66 miles

  • Belk

    4.74 miles

  • Dillard's

    5.41 miles

  • JCPenney

    5.42 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Doug Molyneaux

Molyneaux Group

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