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$600,000

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. Year built is unknown. This 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 seller does not have legal title to the property, but the equitable interest gives seller the right to acquire legal title. Buyer to verify all information during due diligence.

6 Beds ⋅ 6 Baths ⋅ 412202 MLS

1300 Illinois St, Mobile

$499,000

New Price!! Have you been waiting for that hard-to-find Midtown historic home? This may be it—on popular Macy Place! This beautifully updated 1920s home can go VA/FHA loans and blends historic character with modern updates, an excellent floor plan, exceptional storage, and a true one-car garage with remote-controlled door—rare Midtown features! Offering 4 bedrooms, 2 baths and approximately 2,433 sq ft, the home includes a downstairs bedroom and bath plus 3 bedrooms and a spacious renovated bath upstairs. Thoughtfully renovated to the studs from 2017-2022, improvements per seller include new exterior paint (2026), a 2022 roof, downstairs HVAC (2022), upstairs HVAC (2017), gas tankless water heater, and plumbing/electrical updates (2017). Garage door motor and remote were recently replaced, and exterior painting is currently being completed. Enjoy the freshly painted front porch and swing before entering the welcoming living room, dining room and beautifully designed kitchen. The kitchen features Wellborn Premier cabinetry extending to the ceiling, Silestone quartz countertops, gold hardware, pantry pull-outs, soft-close cabinetry, and Samsung appliances that remain. A Flex Duo electric wall oven, 5-burner gas range and convection microwave provide exceptional cooking flexibility. Just off the kitchen is a comfortable den, breakfast/playroom area and large laundry room with abundant storage. Hallway cabinetry adds even more functionality and could easily become a stylish bar area. Upstairs, the generously sized renovated bath offers dual vanities, separate tub and shower. Two bedrooms feature walk-in closets, while the fourth bedroom offers additional under-eave storage with potential for a walk-in closet and flexibility as a nursery, office or playroom. Outside, enjoy the fenced backyard, large entertaining deck, off-street parking and one-car garage with additional side storage. Buyer to verify all information during due diligence.

4 Beds ⋅ 2 Baths ⋅ 410869 MLS

16 Macy Pl, Mobile

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