266 Rickarby Street, Mobile, AL 36606
MULTI_FAMILY - Mobile, AL
- Added:
- Mar 20, 2026
- Days on Market:
- 77
- Last Refresh:
- Jun 4 at 4:06 pm
Property Features for 266 Rickarby Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 6
- Rooms
- Bedroom 4, Bedroom 9, Bedroom 2, Bathroom 5, Bathroom 6, Bedroom 1, Bedroom 7, Bathroom 1, Bedroom 5, Bathroom 2, Bathroom 4, Bedroom 3, Bedroom 10, Bedroom 8, Bathroom 3, Bedroom 6
- 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 agent Melissa Morrissette License #76258 (251) 709-4736
Listing office L L B & B, Inc. 3315-A Old Shell Rd., Mobile, AL (251) 342-3200
Listing date Mar 20, 2026
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.
HighLights
- Two separate 3‑unit apartment buildings at 264 and 266 Rickarby St (266 Rickarby St listed).
- All 6 units are fully occupied and currently leased; rents range from $500 to $800 per month.
- Unit mix: four 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units; one unit participates in Section 8.
- Each unit has hardwood floors and window HVAC units for heating and cooling.
- Utilities: gas, electricity, city water, and city sewer.
- Roof is composition; smoke detector included; on‑street parking.
Overview
The buildings sit just south of Government Street, with easy access to major thoroughfares. The property is also described as being close to the Loop and minutes from downtown Mobile, providing straightforward connectivity for residents to shopping, dining, and other parts of the city.
For buyers and investors seeking a small multifamily setup, the current configuration offers six leased units across two buildings, including one unit participating in the Section 8 program. The presence of in-unit window HVAC and established city services can support day-to-day operational needs. All apartments are currently leased, and buyers should verify all information during due diligence, as the year built is listed as unknown.
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 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Mobile
- County
- Mobile
- State
- Alabama
- Longitude
- -88.084122
- Latitude
- 30.675514
