302 Michigan Avenue

Mobile AL 36604

10406.48 sq. ft.

Duplex

Currently for sale - view listing

Overview

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.

Features

10406.48 sq. ft. lot size

Duplex

Property history for 302 Michigan Avenue

2024

Sold

$580,000

09 Oct 2024 by Rameh Khazen, of Bellator Real Estate & Dev. Mobile

2020

Sold

Undisclosed

02 Oct 2020

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