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1300 Illinois St - Six Unit, Income Producing Multifamily! 6 Unit Apartment Building Offered at $852,738 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 | $852,738 CAD | No. Units | 6 |
| Price Per Unit | $142,123 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 | $852,738 CAD |
| Price Per Unit | $142,123 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
Property Taxes
| Parcel Number | 29-10-27-2-003-007 | Improvements Assessment | $75,788 CAD |
| Land Assessment | $7,268 CAD | Total Assessment | $83,055 CAD |
Property Taxes
Parcel Number
29-10-27-2-003-007
Land Assessment
$7,268 CAD
Improvements Assessment
$75,788 CAD
Total Assessment
$83,055 CAD
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1300 Illinois St - Six Unit, Income Producing Multifamily!
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