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About This Home
This 0-bedroom, 0-bathroom residential multi family at 302 Michigan Avenue in Mobile, AL is listed for $715,000. on a 0.24 acres lot.
Updated and stabilized, ten unit apartment complex in Midtown Mobile! Updated roof, fresh interior and new lighting. All with neutral colored paint, and vinyl plank floors. The kitchens are updated with white cabinets and countertops. Seven units are studio apartments, two units are two bedrooms, and one unit is a three bedroom.
Out of the ten units, eight are currently long term tenants with one year leases, two units are being utilized as short term rentals. The short term rental units are generating approx $1200 per month, per unit. The rents on the long term units vary by unit.
Rent rolls available by request. Property is near full occupancy and generates around $8500 gross per month on average. This area has seen great improvement and has excellent future appreciation potential. Located less than half a mile from Downtown Mobile, close to interstate access and not far from Mardi Gras parade routes. Roofs, plumbing, and electrical updates are approximately 8 years old. Call for more information. All measurements are approximate and not guaranteed, buyer to verify.
Key Features
- 0.24 acre lot
- 2 stories
Property Details
Amenities
Monthly Cost Estimate
$3,824/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
302 Michigan Avenue
Mobile, AL 36604
Glendale Park
Property Details
Flooring
Construction
Parking
Questions & Answers
This 0-bedroom, 0-bathroom residential multi family at 302 Michigan Avenue is listed at $715,000. The estimated monthly payment is $3,098 based on 20% down at 6.5% interest.
Key features include: 0.24 acre lot, 2 stories.
This property is listed by Rameh Dickens Khazen and can be reached at 2517864673 or rkhazen@gobellator.com.
