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Six Unit, Income Producing Multifamily! 1300 Illinois St 6 Unit Apartment Building $832,482 CAD ($138,747 CAD/Unit) 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 | $832,482 CAD | Property Subtype | Apartment |
| Price Per Unit | $138,747 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 10.06% | Building Size | 3,613 SF |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| Gross Rent Multiplier | 7.07 | Year Built/Renovated | 2023/2024 |
| No. Units | 6 | Opportunity Zone |
Yes
|
| Property Type | Multifamily |
| Price | $832,482 CAD |
| Price Per Unit | $138,747 CAD |
| Sale Type | Investment |
| Cap Rate | 10.06% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 7.07 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.17 AC |
| 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
Property Taxes
| Parcel Number | 29-10-27-2-003-007 | Improvements Assessment | $74,182 CAD |
| Land Assessment | $7,114 CAD | Total Assessment | $81,296 CAD |
Property Taxes
Parcel Number
29-10-27-2-003-007
Land Assessment
$7,114 CAD
Improvements Assessment
$74,182 CAD
Total Assessment
$81,296 CAD
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Six Unit, Income Producing Multifamily! | 1300 Illinois St
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