Six-Unit Apartment
New
For Sale
$600,000
1300 Illinois Street, Mobile, AL 36604
Residential Income, Mobile, AL
Property Size2,666 SF
Lot Size0.16 Acres
Price / SF$225.06
Days on Market6
Property Features for 1300 Illinois Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MultiFamily
Bedrooms
6
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 5, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 5, Bedroom 4, Bedroom 1, Bathroom 1, Bathroom 6
Fireplace
1
Appliances
Dishwasher, Refrigerator
Subdivision
Metes And Bounds
Lot features
Less Than 1 Acre
Elementary school
Leinkauf Elementary
Middle school
Calloway Smith Middle
High school
Lillie B. Williamson High
Directions
Headed West on Government Street make a left onto Ann St, heading South. Make a right onto Illinois St. Property sits on the corner of Ann and Illinois St.
Standard status
Active
APN
29-10-27-2-003-007.
Size
2,666 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
LOT 8 IN BLK 8 OF GLENDALE PARK REC IN DBK 61 P 316-17 ALSO THAT STRIP OF LAND LYING IMMEDIATELY E OF SD LOT 8 IN BLK 8 OF GLENDALE PARK BDED ON N BY A PROJ OF THE N/L OF SD LOT 8 BDED ON THE E BY THE PRESENT W/L OF ANN ST AND ON THE S BY THE S/L OF LOT 8 EXT BY LOT 8 #SEC 27 T4S R1W #MP29 10 27 2 0
Tax Annual Amount
3730
Legal Description
LOT 8 IN BLK 8 OF GLENDALE PARK REC IN DBK 61 P 316-17 ALSO THAT STRIP OF LAND LYING IMMEDIATELY E OF SD LOT 8 IN BLK 8 OF GLENDALE PARK BDED ON N BY A PROJ OF THE N/L OF SD LOT 8 BDED ON THE E BY THE PRESENT W/L OF ANN ST AND ON THE S BY THE S/L OF LOT 8 EXT BY LOT 8 #SEC 27 T4S R1W #MP29 10 27 2 0
Utilities
Cooling system
Window Unit(s)
Amenities
coin-operated laundry
Building Details
Year built
2011
Floors in Building
2
Flooring type
Wood
Roof type
Composition
Architectural style
Other
Listing Agency:
Bellator Real Estate LLC Mobile
(251) 343-7777
Listed By:
Rameh Dickens Khazen · License #93507
(251) 928-0031
Added: Oct 15
Changed: Oct 19
Last Checked: Oct 20 at 12:06PM
MLS# 412202
Copyright © 2026 Baldwin REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,666-square-foot multifamily building contains six units: four furnished for short-term rentals and two leased for long-term occupancy. A coin-operated laundry facility serves the property. The site covers 0.1607 acres and is zoned MultiFamily.
Work completed in 2024 included roof replacement and electrical and plumbing updates. Nearly all units received new or refinished flooring, appliances, and updated water heaters. The property also has wood flooring in its listed finish details.
Work completed in 2024 included roof replacement and electrical and plumbing updates. Nearly all units received new or refinished flooring, appliances, and updated water heaters. The property also has wood flooring in its listed finish details.
Key Highlights
- Six units: four furnished short‑term rentals and two long‑term rentals
- 2,666 square feet on a 0.1607‑acre site
- Coin‑operated laundry facility
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,091
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$441,820
$441.8K
Cap Rate 7%
$315,586
$315.6K
Cap Rate 9%
$245,456
$245.5K
Market Conditions
NOI Build-Up for 2,666 SF
Gross rent
$43.2K $16.20/SF
− Vacancy
−$3.0K −$1.13/SF
EGI
$40.2K $15.07/SF
− OpEx
−$18.1K −$6.78/SF
NOI
$22.1K $8.29/SF
Area
Mobile, AL
Vacancy
7.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$441,820
Cap Rate 7%
$315,586
Cap Rate 9%
$245,456
Alternative Uses
Best Use
Apartment 5plus
$315.6K
$276.1K – $368.2K
NOI $22,091 @ 7.0% cap · market cap 3.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$677.6K
$592.9K – $790.6K
NOI $47,433 @ 7.0% cap · market cap 7.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
273
Businesses Nearby
Explore this area
Business Placement
Demographics for 36604, AL
8,798
Population
5,032
Households
1.7
Avg Household Size
40
Median Age
42%
College-Educated
93%
High-School Grad
2.6 sq mi
ZIP Area
3,384
Density / Sq Mi
$60,750
Median Household Income
$37,926
Median Earnings
$892
Median Rent
$236,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Four furnished short-term rentals and two long-term units create a mixed rental configuration.
Where is this apartment building located?
The property is located at 1300 Illinois Street Mobile, AL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Six units: four furnished short‑term rentals and two long‑term rentals; 2,666 square feet on a 0.1607‑acre site; Coin‑operated laundry facility
