AL
Mobile
Mobile
36604
1300 Illinois Street
1300 Illinois Street, Mobile, AL 36604
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Listing Type
Multi Family
Listing Status
Active
21
$600,000

Home Details for 1300 Illinois Street

Price
$600,000
Type
Residential Income
Bedrooms
6
Bathrooms
6.0
Square feet
2666
Lot size acres
0.1607
County
Mobile
Garage
Days on site
1
MLS Listing#
392935
Property Description

Renovated six-unit, high-income producing apartment building offering a strong and diversified income stream. The property consists of four fully furnished short-term rental units and two long-term rentals, creating an attractive blend of stable tenancy and higher-yield short-term rental income. The short-term units are professionally furnished with updated furniture, bedding, and supplies and are currently operating at near full occupancy, while the two long-term units are leased to reliable tenants providing consistent baseline income.The property also features a coin-operated laundry facility that provides additional income. The building is professionally managed and has been a strong performer, generating average gross rents of over $7,000 per month.Significant capital improvements were completed in 2024, including new roofs, updated electrical systems, and updated plumbing. Nearly all units also received new flooring or refinished hardwood floors, along with new appliances, new PTAC-style HVAC units, and updated water heaters. With most major systems and interior improvements already addressed, the property has been stabilized and positioned for continued strong performance with minimal deferred maintenance.The surrounding area continues to see substantial growth and investment. With the relocation of the Mobile International Airport, the area is experiencing increased development, job creation, and infrastructure improvements, which are expected to further drive housing demand and long-term property values.This is a rare opportunity to acquire a stabilized, income-producing multifamily asset with strong current cash flow and additional upside potential in a rapidly improving area.All measurements are approximate and not guaranteed, buyer to verify. This is an equitable interest listing where seller is selling only an option contract or assigning an interest in a contract, such as a purchase and sale agreement or a contract for deed. In this situation, the sell

Property Features
  • Cooling Information
    • Window Unit(s)
    • Other
  • Water Features
    • Public
  • House Interior
    • Eat-in Kitchen
  • Parking
    • See Remarks
  • Fire Place
    • None
School Information
School Information for 1300 Illinois Street, Mobile, AL 36604
Elementary School
Leinkauf
Middle School
Calloway Smith
High School
Lillie B Williamson
Listing Courtesy: Bellator Real Estate LLC Mobil - 251-343-7777
The data relating to real estate for sale on this web-site comes in part from the Internet Data Exchange Program of Baldwin County Association of REALTORS. Baldwin County MLS deems information reliable but not guaranteed.

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Median Listing Price
Median Days on Site
Median Square Feet
Market statistics compiled from data from Baldwin County MLS.
EXIT REALTY LANDMARK
316 South McKenzie Street, Suite 100, Foley, AL 36535
Anne Bodet
Broker of Record
Office
251 232 7702
Agent
251 599 8175
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