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Savannah Moore

savannah.moore@engelvoelkers.com +1(251) 752-6831

$ 600,000

Est. payment -/mo

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Active

1300 Illinois Street Mobile, AL 36604

6 Beds

6 Baths

2,666 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 2,666 sqft

Price per Sqft $225

Subdivision Metes & Bounds

MLS Listing ID 392935

Bedrooms 6

Full Baths 6

Construction Status Resale

Annual Tax Amount $3,729

Lot Size 7,000 Sqft

Lot Dimensions 50 x 140

Property Sub-Type Multi Family

Property Description

Renovated six-unit, high-income producing apartment building offering a strong and diversified income stream. The property consists of four fully furnished short-term rental units and two long-term rentals, creating an attractive blend of stable tenancy and higher-yield short-term rental income. The short-term units are professionally furnished with updated furniture, bedding, and supplies and are currently operating at near full occupancy, while the two long-term units are leased to reliable tenants providing consistent baseline income.The property also features a coin-operated laundry facility that provides additional income. The building is professionally managed and has been a strong performer, generating average gross rents of over $7,000 per month.Significant capital improvements were completed in 2024, including new roofs, updated electrical systems, and updated plumbing. Nearly all units also received new flooring or refinished hardwood floors, along with new appliances, new PTAC-style HVAC units, and updated water heaters. With most major systems and interior improvements already addressed, the property has been stabilized and positioned for continued strong performance with minimal deferred maintenance.The surrounding area continues to see substantial growth and investment. With the relocation of the Mobile International Airport, the area is experiencing increased development, job creation, and infrastructure improvements, which are expected to further drive housing demand and long-term property values.This is a rare opportunity to acquire a stabilized, income-producing multifamily asset with strong current cash flow and additional upside potential in a rapidly improving area.All measurements are approximate and not guaranteed, buyer to verify. This is an equitable interest listing where seller is selling only an option contract or assigning an interest in a contract, such as a purchase and sale agreement or a contract for deed. Year built is unknown. This

Location

State AL

County Mobile

Area Mobile County

Zoning 2+ Family Residence

Interior

Interior Features Eat-in Kitchen, Other Rooms (See Remarks)

Cooling Window Unit(s), Other

Flooring Wood

Fireplaces Type None

Fireplace No

Appliance Dishwasher, Refrigerator

Exterior

Parking Features See Remarks

Community Features None

Waterfront Description No Waterfront

View Y/N No

View None/Not Applicable

Roof Type Composition

Garage No

Building

Foundation Pillar/Post/Pier

Sewer Public Sewer

Water Public

New Construction No

Construction Status Resale

Schools

Elementary Schools Leinkauf

Middle Schools Calloway Smith

High Schools Lillie B Williamson

Others

Senior Community No

Ownership Whole/Full

Listed by Bellator Real Estate LLC Mobil

NEARBY SCHOOLS & PROPERTIES

Savannah Moore

Advisor | License ID: 149647-1

+1(251) 752-6831

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