Downtown Fairhope Investment Property

Multi-Family for Sale
Catylist Listing ID: 30634484
Property Subtypes: Duplex/Fourplex
Number of Units: 3 Units
Building Size (RSF): 2,940 SF
Gross Building Area: See Agent
Sale Price: $1,150,000
Unit Price: $383,333.33 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Vacation Rental Income: Yes
Last Updated: 7/23/2020

Overview / Comments

Location Location Location! One of a kind turn key investment property in the heart of downtown Fairhope with unlimited possibilities. Rental potential of appx $150k per year. Situated on the parade route to celebrate all of the annual festivities and only a short stroll to local art galleries, restaurants, boutiques, wine bars, grocery store,churches and the Fairhope pier. The Bay and beach are only 3 blocks away with biking trails, parks and beautiful sunsets. Perfect for a second home with 2 additional income producing properties. Currently being used as a 3 rental properties on VRBO with excellent rental income and no condo or management fees. 10 x 20 screened porch for relaxing with covered space below for entertaining in the courtyard. Main house on upper level has appx 2000 sf with 3 bedrooms and 2.5 baths with an open and airy floor plan, 10’ ceilings, 8’doors and lots of natural light. Upgrades throughout including hardwood floors, lots of built-ins and niches, pocket doors, barn doors and loaded with character and attention to detail. Gourmet kitchen offers high-end Bosch appliances and an Italian made Bertzonni 5 burner gas range/oven. Cozy gas fireplace and 2 tankless water heaters. Loads of closets and storage space with additional framework for optional elevator shaft. Lower level offers a one bedroom unit (500sf) and additional studio unit (400sf). Both have a separate entrance from the parking area for convenience and easy access. Additional insulation and soundproofing for privacy and energy efficiency. Small deeded lot with very low maintenance. Experience Downtown Fairhope at it’s finest! All information provided is deemed reliable but not guaranteed.

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Tax ID/APN: 05-46-03-37-0-602-007.004
Zoning: B-2
Property Located Between: S Church St and shopping district on S Section St
Highway Access: Private access off S Section St and public parking off S Church St
Site Description: 37'x 62' deeded lot with commercial zoning for short term rentals
Area Description: Downtown shopping district only blocks to Mobile Bay
Total Number of Buildings: 1
Property Condition: Excellent
Number of Stories: 2
Year Built: 2012
Roof Type: Hip
Construction/Siding: HardiePlank Siding
Exterior Description: Raised Coastal cottage with screened porch and parking underneath
Parking Type: Surface, Other
Parking Description: Covered carport for main house and rear public parking lot for downstairs apartments
Total Parking Spaces: 2
Laundry: In Each Unit
Sprinklers: Other
Heat Type: Electricity
Heat Source: Central
Fuel: Gas
Internet Access: Cable
Interior Description: Main house on the upper level has appx 2000 sf with 3 bedrooms and 2.5 baths with an open and airy floor plan, 10’ ceilings, 8’doors and lots of natural light. Upgrades throughout including hardwood floors, lots of built-ins and niches, pocket doors, barn doors and loaded with character and attention to detail. Gourmet kitchen offers high-end Bosch appliances and an Italian made Bertzonni 5 burner gas range/oven. Cozy gas fireplace and 2 tankless water heaters. Loads of closets and storage space with additional framework for optional elevator shaft. Lower level one bedroom unit (500sf) Lower level studio unit (400sf) Additional insulation and soundproofing for privacy and energy efficiency.
Zoning Description: B-2
Lot Frontage: 37
Lot Depth: 62
Water Service: Municipal
Sewer Type: Municipal
Easements: Ingress/Egress, Utilities
Land Ownership: Deeded
Legal Description: Lot 6 Minnich Court Subdivision

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,575 14,165 32,263
Median Age: 51.69 46.99 43.2
Households: 2,707 6,379 13,110

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