Multifamily Portfolio in Mobile,
For Sale
$4,500,000
2904 Pleasant Valley Rd, Mobile, AL 36606
149-unit multifamily portfolio in Mobile, Alabama.
Property Size48,900 SF
Days on Market210
Property Features for 2904 Pleasant Valley Rd
General Information
Standard status
Active
Size
48,900 SF
Property subtype
Multifamily
Building Details
Building Size
48,900 SF
Year Built
1971
Listed By:
Andrew Agee
(256) 653-0065
Source:
Svn
Added: Apr 3
Changed: Oct 26
Last Checked: Oct 28 at 5:30AM
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 Andrew Agee
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Investment Insights
Based on property information with market context.
The Mobile 149 is a multifamily portfolio comprised of three properties located in Mobile, Alabama. The portfolio totals 149 units across three properties: Arbor Pointe, Bird’s Nest, and The Retreat at Pleasant Valley. Arbor Pointe consists of 57 units and was built in 1998. Bird’s Nest consists of 32 units and was built in 1983. The Retreat at Pleasant Valley consists of 60 units and was built in 1971. The properties are fully stabilized with current occupancies between 92% and 95%. The properties have undergone significant transformation after a material capital infusion in recent years.
Key Highlights
- 149‑unit multifamily portfolio.
- Fully stabilized with 92‑95% current occupancies.
- Significant transformation due to recent capital infusion.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$405,200
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$8,104,000
$8.1M
Cap Rate 7%
$5,788,571
$5.8M
Cap Rate 9%
$4,502,222
$4.5M
Market Conditions
NOI Build-Up for 48,900 SF
Gross rent
$792.2K $16.20/SF
− Vacancy
−$55.5K −$1.13/SF
EGI
$736.7K $15.07/SF
− OpEx
−$331.5K −$6.78/SF
NOI
$405.2K $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%
$8,104,000
Cap Rate 7%
$5,788,571
Cap Rate 9%
$4,502,222
Alternative Uses
Best Use
Apartment 5plus
$5.79M
$5.07M – $6.75M
NOI $405,200 @ 7.0% cap · market cap 9.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.43M
$10.88M – $14.50M
NOI $870,013 @ 7.0% cap · market cap 19.33%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
700
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 - 149-unit multifamily portfolio in Mobile, Alabama.
Where is this apartment building located?
The property is located at 2904 Pleasant Valley Rd Mobile, AL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 149‑unit multifamily portfolio.; Fully stabilized with **92‑95% current occupancies.**; Significant transformation due to recent capital infusion.**
