RARE Investment Opportunity! SIX Rental Income Producing Condos!
Multi-Family
for Sale
| Catylist Listing ID: |
30876614 |
| Number of Units: |
6 Units |
| Building Size (RSF): |
3,186 SF |
| Gross Building Area: |
See Agent |
| Sale Price: |
$1,800,000 |
| Unit Price: |
$300,000 Per Unit |
| Property Use Type: |
Investment |
| Building Name: |
Paradise Isle |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Vacation Rental Income: |
Yes |
| Last Updated: |
8/21/2024 |
Overview / Comments
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**RARE Investment Opportunity** Own SIX high-performing short-term rental units at the sought-after Paradise Isle complex in stunning Gulf Shores! These six units (#1, #2, #4, #12, #14 and #17) are being sold together, providing a unique chance to expand your rental portfolio in one of the most desirable locations on the Gulf Coast. This complex offers everything needed for the perfect rental property! Prime lot nestled in the heart of Gulf Shores, this complex is just a short stroll from Gulf Place, where popular festivals, dining and shopping experiences abound. The convenience doesn't stop there – public beach access is directly across the street, ensuring guests have easy access to the famous white sandy beaches. Plus, Paradise Isle is **pet-friendly**, making it even more attractive to potential renters. Each of these charming six units are cozy one-bedroom, one-bathroom condos that comfortably accommodates up to six guests each. Strong income potential boasting an impressive rental history, these units collectively generated a NET rental income of $137k in 2023 with a gross income of $216k and already have 145k on the books for 2024. This established income stream, coupled with the unbeatable location and amenities, makes this Listing a must-see for serious investors! Don’t miss out on this rare opportunity to own a slice of paradise in Gulf Shores with unbeatable rental income!!! Buyer to verify all information during due diligence.
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Additional Details
| Nearest MSA: |
Daphne-Fairhope-Foley |
| County: |
Baldwin |
| Tax ID/APN: |
05-66-04-19-1-000-014.000 |
| Percent Occupied: |
90% |
| Outdoor Pool, Community Hot Tub, On-Site Maintenance |
| Property Condition: |
Good |
| Number of Stories: |
1 |
| Roof Type: |
Other |
| Construction/Siding: |
Other |
| Laundry: |
In Each Unit |
| Heat Type: |
Electricity, Hot Water |
| Heat Source: |
Central |
| Internet Access: |
Cable, Other |
Demographic Statistics
| Proximity: |
3 miles |
5 miles |
| Total Population: |
3,204 |
11,993 |
| Median Age: |
42.12 |
42.22 |
| Households: |
1,420 |
5,454 |
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The information presented herein is provided as is, without warranty of any kind.
Neither Gulf Coast CMLS nor
Moody's assume any liability for errors or omissions.
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