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1300 Illinois St - Six Unit, Income Producing Multifamily! 6 Unit Apartment Building Offered at $835,704 CAD at a 10.06% Cap Rate Mobile, AL 36604
Executive Summary
Six unit, remodeled property for sale. Renovated in 2024, which includes new water heaters, refinished wood floors, updated bathrooms, kitchens and appliances. New roof in 2024, and exterior paint job. Property is currently used as a mix of long term/short term rental. Four units are used short term and two are long term. Short term guests are thru Airbnb but many have requested month to month stays due to working arrangements.
Property Facts
| Price | $835,704 CAD | No. Units | 6 |
| Price Per Unit | $139,284 CAD | Property Type | Multifamily |
| Sale Type | Investment | Building Size | 3,613 SF |
| Cap Rate | 10.06% | No. Stories | 2 |
| Sale Condition | 1031 Exchange | Year Built/Renovated | 2023/2024 |
| Gross Rent Multiplier | 7.07 | Opportunity Zone |
Yes
|
| Price | $835,704 CAD |
| Price Per Unit | $139,284 CAD |
| Sale Type | Investment |
| Cap Rate | 10.06% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 7.07 |
| No. Units | 6 |
| Property Type | Multifamily |
| Building Size | 3,613 SF |
| No. Stories | 2 |
| Year Built/Renovated | 2023/2024 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| Studios | 2 | - | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
40/100
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1300 Illinois St - Six Unit, Income Producing Multifamily!
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