Renovated 32-Unit Apartment
For Sale
$2,080,000
2901 Pleasant Valley Rd, Mobile, AL 36606
Turnkey 32-unit multifamily offers newly renovated one-bedroom units with updated LVP flooring and fixtures.
Property Size18,496 SF
Days on Market201
Property Features for 2901 Pleasant Valley Rd
General Information
Standard status
Active
Size
18,496 SF
Property subtype
Multifamily
Building Details
Building Size
18,496 SF
Listed By:
Jason Hyde
(205) 516-6107
Source:
Svn
Added: Apr 13
Changed: Oct 25
Last Checked: Oct 28 at 4:54AM
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 Jason Hyde
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Investment Insights
Based on property information with market context.
Bird’s Nest is a highly stabilized 32-unit multifamily community featuring efficient one-bedroom, one-bathroom layouts. The property is offered in turnkey condition with 100% of the units newly renovated, including LVP flooring, upgraded appliances, new vanities, and modernized fixtures, designed to minimize immediate capital expenditures.
Located at 2901 Pleasant Valley Rd in Mobile, AL, the community is described as steps away from The Retreat at Pleasant Valley. The remarks note that an investor acquiring both assets can pursue operational efficiencies through shared staffing, management, and maintenance.
Ownership retains flexibility to pivot between market-rate tenants and Section 8 subsidized tenants. The offering materials further include projections of a 7.69% Year 1 Cap Rate and a 19.6% 5-Year IRR.
Located at 2901 Pleasant Valley Rd in Mobile, AL, the community is described as steps away from The Retreat at Pleasant Valley. The remarks note that an investor acquiring both assets can pursue operational efficiencies through shared staffing, management, and maintenance.
Ownership retains flexibility to pivot between market-rate tenants and Section 8 subsidized tenants. The offering materials further include projections of a 7.69% Year 1 Cap Rate and a 19.6% 5-Year IRR.
Key Highlights
- 32‑unit multifamily community with efficient 1BD/1BA layouts averaging 578 SF
- Turnkey renovations: all units newly renovated with LVP flooring
- Renovation updates include upgraded appliances, new vanities, and modernized fixtures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$153,263
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,065,260
$3.1M
Cap Rate 7%
$2,189,471
$2.2M
Cap Rate 9%
$1,702,922
$1.7M
Market Conditions
NOI Build-Up for 18,496 SF
Gross rent
$299.6K $16.20/SF
− Vacancy
−$21.0K −$1.13/SF
EGI
$278.7K $15.07/SF
− OpEx
−$125.4K −$6.78/SF
NOI
$153.3K $8.29/SF
Area
Mobile, AL
Vacancy
7.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,065,260
Cap Rate 7%
$2,189,471
Cap Rate 9%
$1,702,922
Alternative Uses
Best Use
Apartment 5plus
$2.19M
$1.92M – $2.55M
NOI $153,263 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.70M
$4.11M – $5.48M
NOI $329,075 @ 7.0% cap · market cap 15.82%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
431
Businesses Nearby
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Business Placement
Demographics for 36606, AL
19,042
Population
9,129
Households
2.1
Avg Household Size
35
Median Age
29%
College-Educated
89%
High-School Grad
6.8 sq mi
ZIP Area
2,800
Density / Sq Mi
$49,561
Median Household Income
$37,094
Median Earnings
$938
Median Rent
$141,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey 32-unit multifamily offers newly renovated one-bedroom units with updated LVP flooring and fixtures.
Where is this apartment building located?
The property is located at 2901 Pleasant Valley Rd Mobile, AL.
What is the asking price?
The asking price for this property is $2,080,000.
What are key features of this property?
This property features: 32‑unit multifamily community with efficient 1BD/1BA layouts averaging 578 SF; Turnkey renovations: all units newly renovated with LVP flooring; Renovation updates include upgraded appliances, new vanities, and modernized fixtures
