Renovated Income-Producing Apartment
1300 Illinois Street Mobile, AL 36604
1300 Illinois Street, Mobile, AL, 36604
$600,000
For Sale
$600,000
Six-unit apartment building with short-term and long-term rental income.
Days on Market133
Property Features for 1300 Illinois Street
General Information
- Standard status
- Active
- Property subtype
- Multi Family
Listing Agency
Bellator Real Estate LLC Mobile
(251) 786-4673
Listed by
Rameh Dickens Khazen · License #93507
(251) 786-4673
Source
Exitrealty
Added: Mar 7 Checked: Jul 17 at 3:54 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bellator Real Estate LLC Mobile
Investment Insights
Based on property information with market context.
This renovated six-unit apartment building offers a diversified income stream, featuring four fully furnished short-term rental units and two long-term rentals. The short-term units are professionally furnished with updated furniture, bedding, and supplies and are operating at near full occupancy. The two long-term units are leased to reliable tenants. A coin-operated laundry facility provides additional income. The building is professionally managed and generates average gross rents of over $7,000 per month. Significant capital improvements were completed in 2024, including new roofs, updated electrical systems, and updated plumbing. Nearly all units received new flooring or refinished hardwood floors, along with new appliances, new PTAC-style HVAC units, and updated water heaters. The property has been stabilized and positioned for continued strong performance with minimal deferred maintenance. The surrounding area is experiencing increased development, job creation, and infrastructure improvements due to the relocation of the Mobile International Airport, which are expected to further drive housing demand and long-term property values. This multifamily asset offers current cash flow and additional upside potential in a rapidly improving area.
Key Highlights
- High‑income producing six‑unit apartment building with diversified income stream from short‑term and long‑term rentals.
- Significant capital improvements completed in 2024: new roofs, updated electrical, plumbing, flooring, appliances, HVAC units, and water heaters.
- Professionally furnished short‑term rental units operating at near full occupancy.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Short term rental ...
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FAQs
What type of property is this?
Apartment building - Six-unit apartment building with short-term and long-term rental income.
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: High‑income producing six‑unit apartment building with diversified income stream from short‑term and long‑term rentals.; Significant capital improvements completed in 2024: new roofs, updated electrical, plumbing, flooring, appliances, HVAC units, and water heaters.; Professionally furnished short‑term rental units operating at near full occupancy.
