1615 Cheshire Dr Mobile, AL 36605
- Residential income homes
- 13,000 SF
Current Use by Public Records
- Helping Hands Health CARE Llc / Home Health Care Service
Property Details for 1615 Cheshire Dr
- Property size
- 13,000 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents an 11-unit single-family rental portfolio located in Mobile, Alabama. The portfolio comprises ten buildings, totaling 13,000 square feet, and boasts 100% occupancy. Each of the eleven units underwent renovations in 2020, ensuring a high-quality rental product. The property currently generates a strong net operating income (NOI) of $107,421, representing an 8.26% capitalization rate. A pro-forma analysis projects an even more impressive NOI of $119,616, translating to a 9.20% capitalization rate, indicating significant upside potential. The portfolio is classified as Class C and offers below-market rents, presenting a compelling opportunity for value appreciation. Individual unit addresses are spread across Mobile County, including 1615 Cheshire Dr W, 605 Crenshaw St, 802 Gorgas St, 958 Gorgas St, 970 Gorgas St, 1208 Congress St, 1555 Cedar Crescent Dr, 2305 Massengale Dr, 6462 Tanner St, and 9551 McLeod Rd, with zip codes ranging from 36603 to 36695. The asking price for this stabilized investment is $1,300,000, or approximately $118,182 per unit, and $100 per square foot. This portfolio represents a rare opportunity to acquire a well-maintained, high-performing rental property in a growing market.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Mobile
- County
- Mobile
- State
- Alabama
- Longitude
- -88.1171239
- Latitude
- 30.6372003
