Two-Building Apartment
266 Rickarby Street Mobile, AL 36606
266 Rickarby Street, Mobile, AL, 36606
$600,000
For Sale
$600,000
MULTI_FAMILY - Mobile, AL
Property Size3,576 SF
Lot Size0.34 Acres
Price / SF$167.79
Days on Market123
Property Features for 266 Rickarby Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 6
- Rooms
- Bathroom 5, Bedroom 4, Bedroom 5, Bedroom 1, Bathroom 3, Bedroom 8, Bathroom 2, Bathroom 4, Bedroom 6, Bedroom 10, Bathroom 6, Bedroom 7, Bedroom 2, Bathroom 1, Bedroom 3, Bedroom 9
- Parking features
- On Street
- Fireplace
- 1
- Appliances
- Smoke Detector
- Standard status
- Active
- APN
- 2910282001032XXX
- Size
- 3,576 SF
- Lot size
- 0.34 Acres
Taxes and HOA fees
- Tax Description
- LOTS 64 & 65 MUTHS SUB OF LEE PL MBK3/325 #SEC 28 T4S R1W #MP29 10 28 2 001
Building Details
- Floors in Building
- 2
- Flooring type
- Wood, Vinyl
- Roof type
- Composition
- Architectural style
- Other
Listing Agency
L L B & B, Inc.
(251) 342-3200
3315-A Old Shell Rd., Mobile, AL
Listed by
Melissa Morrissette · License #76258
(251) 709-4736
Added: Mar 20 Checked: Jul 20 at 5:06 am
MLS# 393812
Listing URL
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.
Investment Insights
Based on property information with market context.
The property consists of two separate 3-unit apartment buildings located at 264 and 266 Rickarby Street. In total, the buildings provide six fully occupied units with a unit mix of four 2-bedroom, 1-bath apartments and two 1-bedroom, 1-bath apartments. The apartments feature hardwood floors and window HVAC units for heating and cooling. Utilities are serviced by gas and electricity, with city water and city sewer.
The buildings are situated just south of Government Street, with easy access to major thoroughfares. The public remarks note the location is near the Loop and close to shopping, dining, and major routes throughout Mobile, with downtown also described as minutes away.
This is a for-sale, income-producing residential rental property with all apartments currently leased. The listing also notes that rents range from $500 to $800 per month and that one unit participates in the Section 8 program. Buyer to verify all information during due diligence.
The buildings are situated just south of Government Street, with easy access to major thoroughfares. The public remarks note the location is near the Loop and close to shopping, dining, and major routes throughout Mobile, with downtown also described as minutes away.
This is a for-sale, income-producing residential rental property with all apartments currently leased. The listing also notes that rents range from $500 to $800 per month and that one unit participates in the Section 8 program. Buyer to verify all information during due diligence.
Key Highlights
- Two separate 3‑unit apartment buildings at 264 and 266 Rickarby Street
- Six fully occupied units with rents ranging from $500 to $800 per month; one unit participates in Section 8
- Unit mix: four 2‑bedroom, 1‑bath apartments and two 1‑bedroom, 1‑bath apartments
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.3k | $13.80 |
| − Vacancy | −$3.7k | −$1.04 |
| EGI | $45.6k | $12.77 |
| − OpEx | −$13.7k | −$3.83 |
| NOI | $32.0k | $8.94 |
3,576 SF · lease $13.80/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$456.5K
$399.4K – $532.6K
NOI $31,953 @ 7.0% cap · market cap 5.33%
Second Best
Apartment 5plus
$423.3K
$370.4K – $493.9K
NOI $29,632 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$908.9K
$795.3K – $1.06M
NOI $63,623 @ 7.0% cap · market cap 10.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Two 3-unit apartment buildings with six fully occupied units, including 2- and 1-bedroom layouts.
Where is this triplex located?
The property is located at 266 Rickarby 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: Two separate 3‑unit apartment buildings at 264 and 266 Rickarby Street; Six fully occupied units with rents ranging from $500 to $800 per month; one unit participates in Section 8; Unit mix: four 2‑bedroom, 1‑bath apartments and two 1‑bedroom, 1‑bath apartments
