302 Michigan Avenue Mobile, AL 36604

Listing Agency Bellator Real Estate LLC Mobile r***@goBellator.com Show Phone

Listed by Rameh Dickens Khazen · License #93507 Show Phone

Source Exitrealty

Added: Feb 10 Checked: Jul 10 at 12:09 pm

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Investment Insights

Based on property information with market context.

This updated and stabilized ten-unit apartment complex is located in Midtown Mobile. The property features a newer roof, fresh interiors, and new lighting. The units are finished with neutral-colored paint and vinyl plank floors. Kitchens have been updated with white cabinets and countertops. The complex includes seven studio apartments, two two-bedroom units, and one three-bedroom unit. Eight units are occupied by long-term tenants with one-year leases, while two units are utilized as short-term rentals, generating approximately $1200 per month per unit. The long-term unit rents vary. The property is near full occupancy and generates around $8500 gross per month on average. Roofs, plumbing, and electrical updates are approximately 8 years old. The property is located less than half a mile from Downtown Mobile, close to interstate access, and not far from Mardi Gras parade routes, with excellent future appreciation potential.

Key Highlights

• High occupancy rate generating approximately $8500 gross monthly income.
• Two units generate approximately $1200 per month each as short‑term rentals.
• Updated units feature neutral paint, vinyl plank floors, white cabinets, and countertops.

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FAQs

What type of property is this?

Apartment building - Updated ten-unit apartment complex near Downtown Mobile.

Where is this apartment building located?

The property is located at 302 Michigan Avenue Mobile, AL.

What is the asking price?

The asking price for this property is $715,000.

What are key features of this property?

This property features: High occupancy rate generating approximately $8500 gross monthly income.; Two units generate approximately $1200 per month each as short‑term rentals.; Updated units feature neutral paint, vinyl plank floors, white cabinets, and countertops.