Renovated Multifamily Investment
For Sale
$600,000
1300 Illinois Street, Mobile, AL 36604
MULTI_FAMILY - Mobile, AL
Lot Size0.17 Acres
Days on Market149
Property Features for 1300 Illinois Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Driveway, Parking Lot
Fencing
Fenced
Subdivision
Glendale Park
Lot features
Level
Elementary school
Leinkauf
Middle school
Calloway Smith
High school
Lillie B Williamson
Standard status
Active
APN
2910272003007
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
1664
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
2
Number of units
6
Flooring type
Hardwood
Roof type
Shingle
Listing Agency:
Bellator Real Estate LLC Mobile
(251) 343-7777
Listed By:
Rameh Dickens Khazen · License #93507
(251) 786-4673
Added: Mar 6
Changed: Jul 11
Last Checked: Aug 2 at 6:06PM
MLS# 7730097
Copyright © 2026 Mobile Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated six-unit apartment building offers a diversified income stream. The property features 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. The lot size is 0.1683 acres.
Key Highlights
- Renovated 6‑unit apartment building with average gross rents over $7,000/month
- Income mix: 4 fully furnished short‑term rental units plus 2 long‑term leased units
- Coin‑operated laundry facility on‑site for additional income
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
349
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - High-income producing six-unit apartment building with diversified income streams.
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: Renovated 6‑unit apartment building with average gross rents over $7,000/month; Income mix: 4 fully furnished short‑term rental units plus 2 long‑term leased units; Coin‑operated laundry facility on‑site for additional income
