Michigan Ave Value Add

Multi-Family for Sale
Catylist Listing ID: 30754089
Property Subtypes: Low-Rise/Garden
Number of Units: 10 Units
Building Size (RSF): 9,750 SF
Gross Land Area: 0.45 SF
Sale Price: $400,000
Unit Price: $40,000 Per Unit
Property Use Type: Investment
Building Name: Michigan Ave 10 Units
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 10
Last Updated: 10/14/2021

Overview / Comments

This 10 unit property in the heart of Midtown Mobile has plenty value add possibilities.​ This property has plenty of open space for parking or possibly building more units.​ The roof and the windows have been recently replaced leaving mostly cosmetic work to be done.​ With a high after repair value this project can easily put all the cash spent on CapEx back into the pocket of the buyer.​

Attachments & Media

Additional Details

Nearest MSA: Mobile
County: Mobile
Tax ID/APN: 2910223003057001
Percent Occupied: 10%
Property Located Between: Michigan and Government
Highway Access: I-10
Airports: Mobile Reginal Airport
Site Description: One large house that houses 10 of the studio units and 2 single family houses that are both 3/2 units
Area Description: Midtown
Total Number of Buildings: 3
Property Condition: Average
Number of Stories: 2
Roof Type: Hip
Construction/Siding: Aluminum Siding
Exterior Description: New Roof and new windows
Parking Type: Surface
Parking Description: Lots of available parking
Total Parking Spaces: 15
Laundry: Shared
Interior Description: Interiors need work, a lot of new floors but renovations will need to be done.
Water Service: Municipal
Sewer Type: Municipal

View FullscreenMap

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,434 70,004 128,814
Median Age: 36.09 36.22 35.93
Households: 6,283 27,274 51,002

Contact

Photograph of Listing Agent

Justin B. Toomey

SVN | Toomey Property Advisers Mobile, AL
Gulf Coast CMLS Member
© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Gulf Coast CMLS nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.