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 Market159
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: Sep 5
Last Checked: Sep 8 at 7:06AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$405,200
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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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.**
