3-Bedroom Condo in Gated
2901 Grant Street Mobile, AL 36606
2901 Grant Street, Mobile, AL, 36606
$188,900
For Sale
$188,900
MULTI_FAMILY - Mobile, AL
Property Size1,828 SF
Lot Size4.37 Acres
Price / SF$103.34
Days on Market357
Property Features for 2901 Grant Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bathroom 3, Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 1
- Parking features
- Carport, Covered
- Fireplace
- 1
- Appliances
- Microwave, Range-Electric, Refrigerator
- Standard status
- Active
- APN
- 290930100013717 / 29-09-30-1-000-137.17
- Size
- 1,828 SF
- Lot size
- 4.37 Acres
Building Details
- Year built
- 1974
- Floors in Building
- 2
- Flooring type
- Carpet, Tile, Laminate
- Roof type
- Composition
- Architectural style
- Other
Listing Agency
EXIT Allstar Realty
(251) 380-0990
6606 Old Shell Rd, Mobile, AL
Listed by
Tonya Wheat · License #116208
(251) 408-7887
Added: Jul 29, 2025 Updated: Jul 19 at 4:55 am Checked: Jul 20 at 2:06 pm
MLS# 399544
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.
This for-sale residential income property features a spacious 3-bedroom, 2.5-bath condo with an open-concept kitchen with a breakfast bar, a dining area, and a cozy den with a fireplace. A separate living room provides additional flexible space, and the layout includes two oversized bedroom suites. The home is located within a well-established, maintained complex with landscaped common areas.
The condo is positioned just steps from the clubhouse, pool, and fitness center. The property is described as conveniently located near shopping, dining, and entertainment, with quick access to the interstate and approximately 45 minutes to the Gulf Coast beaches.
Recent improvements reported by the seller include an HVAC replacement in January 2025, windows replaced approximately 5 years ago with a transferrable lifetime warranty, and a roof approximately 4 years old. Information is deemed reliable but not guaranteed; buyer and buyer’s agent should verify all details during due diligence.
The condo is positioned just steps from the clubhouse, pool, and fitness center. The property is described as conveniently located near shopping, dining, and entertainment, with quick access to the interstate and approximately 45 minutes to the Gulf Coast beaches.
Recent improvements reported by the seller include an HVAC replacement in January 2025, windows replaced approximately 5 years ago with a transferrable lifetime warranty, and a roof approximately 4 years old. Information is deemed reliable but not guaranteed; buyer and buyer’s agent should verify all details during due diligence.
Key Highlights
- 3‑bedroom, 2.5‑bath condo in Midtown Mobile, built in 1974
- Open‑concept kitchen with breakfast bar, dining area, and den with a fireplace; separate living room
- Two oversized bedroom suites plus additional bedrooms and baths; flooring includes carpet, tile, and laminate
Local Financial Insights For Apartment 5plus
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 | $29.6k | $16.20 |
| − Vacancy | −$2.1k | −$1.13 |
| EGI | $27.5k | $15.07 |
| − OpEx | −$12.4k | −$6.78 |
| NOI | $15.1k | $8.29 |
1,828 SF · lease $16.20/SF/yr · vacancy 7.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$216.4K
$189.3K – $252.5K
NOI $15,147 @ 7.0% cap · market cap 8.02%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$464.6K
$406.5K – $542.1K
NOI $32,523 @ 7.0% cap · market cap 17.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Stone Ridge Homeowners ...
Association / Organization
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income property - Spacious 3-bedroom, 2.5-bath condo in a maintained Midtown Mobile complex near clubhouse and amenities.
Where is this residential income property located?
The property is located at 2901 Grant Street Mobile, AL.
What is the asking price?
The asking price for this property is $188,900.
What are key features of this property?
This property features: 3‑bedroom, 2.5‑bath condo in Midtown Mobile, built in 1974; Open‑concept kitchen with breakfast bar, dining area, and den with a fireplace; separate living room; Two oversized bedroom suites plus additional bedrooms and baths; flooring includes carpet, tile, and laminate
