Waterfront Multi Family

Multi-Family for Sale
Catylist Listing ID: 30835292
Property Subtypes: Duplex/Fourplex, Low-Rise/Garden, Other
Number of Units: 6 Units
Building Size (RSF): 6,324 SF
Gross Building Area: See Agent
Sale Price: $1,900,000
Unit Price: $316,666.67 Per Unit
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Edgewater Park
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: Undisclosed
Average Occupancy Rate: 99
Last Updated: 9/1/2023

Overview / Comments

Investors!! One of a kind property in Lillian ALABAMA! Nearly 200+-' on Perdido Bay, approx 2 acres. FIVE, 1 bedroom, 2 bathroom apartments that stay rented 100% on 6 month leases. This property is incredibly unique and has multiple possibilities which could include Marina, Waterfront Living Community, Restaurant or your own Vacation Rental Hot Spot. Short term rentals ALLOWED!
Main home has 3 bedrooms, 2 bathrooms and additional sleeping in the loft. Oversized double car garage/shop, which could be used as a garage OR converted to additional apartments.
Zoning is RMF-6 (Multi Family)! Apartments have new sewer connection June 2021, home is on septic. Close to Gulf Beaches! Public, Lillian Boat Launch just down the street. Perdido Bay leads to Orange Beach, Gulf Shores and to the Gulf of Mexico.

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Tax ID/APN: 05-52-07-26-0-001-123.000
Zoning: RMF-6
Percent Occupied: 100%
Property Located Between: Elberta AL and Pensacola FL
Highway Access: Less than 1 block from US Highway 98
Total Number of Buildings: 2
Property Condition: Average
Number of Stories: 1
Year Built: 1955
Year Renovated: 2000
Roof Type: Gable
Construction/Siding: Brick
Parking Type: Surface
Laundry: In Each Unit
Heat Type: Electricity
Fuel: Propane
Air Conditioning: Other
Internet Access: Satellite
In Flood Plain?: Yes
Water Service: Municipal, Well
Sewer Type: Municipal, Septic
Land Ownership: Whole/Full

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 9,266 19,431
Median Age: 49.4 43.07
Households: 4,023 7,804


Photograph of Listing Agent

Summer Dornstadter

eXp Realty LLC Southern Branch Gulf Coast CMLS Member
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