207 Michigan Ave - Multi-Family FOR SALE


Mobile, AL 36604- Washington Square
$475,000 USD
251-343-7777
207 Michigan Ave, Mobile, AL for Sale
$475,000 USD
Multi-Family - FOR SALE
1/30
null | Request Cap Rate

207 Michigan Ave
Mobile, AL 36604
Washington Square


HIGHLIGHTS

  • Fully occupied building
  • Beautiful historic architecture
  • On the route to new Mobile International Airport

OVERVIEW

Six unit apartment building currently generating over $5,500 per month in gross rent. This building is composed of five long term rental units, and one short term rental unit. Building has been partially renovated with room to update some units and increase rents. This building is located on Michigan Avenue, which will be the corridor to both the interstate for Midtown and the route to the new Mobile International Airport. Currently under professional management so perfect for out of town buyers. This building will generate income from closing day forward. Just a few of the updates done over the last few years include three updated mini split air conditioners, main panel upgrade in 2022, and a partial replumb including sewer lines. This included the majority of plumbing fixtures as well. An exterior paint job and landscaping was also done approx 2023. Building is comprised of four, one bed, one bath units, and two studios. Call for more information today.

FOR SALE DETAILS

PRICE

$475,000 USD

PRICE/SF

$160 USD /SF

# OF UNITS

6

PRICE/UNIT

$79,167

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

29-10-22-3-003-028

ASK ABOUT THIS PROPERTY

Rameh KhazenBellator Real EstateMore Info
251-343-7777

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Rameh KhazenBellator Real EstateMore Info
251-343-7777

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.