1300 Illinois Street, Mobile, AL 36604
Local realty services provided by:Better Homes and Gardens Real Estate Platinum Properties
1300 Illinois Street,Mobile, AL 36604
$600,000
- 6 Beds
- 6 Baths
- 2,666 sq. ft.
- Multi-family
- Active
Listed by: rameh dickens khazen
Office: bellator real estate llc. mobile
MLS#:412202
Source:AL_BCAR
Price summary
- Price:$600,000
- Price per sq. ft.:$225.06
About this home
Renovated six-unit, high-income producing apartment building offering a strong and diversified income stream. The property consists of four fully furnished short-term rental units and two long-term rentals, creating an attractive blend of stable tenancy and higher-yield short-term rental income. The short-term units are professionally furnished with updated furniture, bedding, and supplies and are currently operating at near full occupancy, while the two long-term units are leased to reliable tenants providing consistent baseline income.The property also features a coin-operated laundry facility that provides additional income. The building is professionally managed and has been a strong performer, generating average gross rents of over $7,000 per month.Significant capital improvements were completed in 2024, including new roofs, updated electrical systems, and updated plumbing. Nearly all units also received new flooring or refinished hardwood floors, along with new appliances, new PTAC-style HVAC units, and updated water heaters. With most major systems and interior improvements already addressed, the property has been stabilized and positioned for continued strong performance with minimal deferred maintenance.The surrounding area continues to see substantial growth and investment. With the relocation of the Mobile International Airport, the area is experiencing increased development, job creation, and infrastructure improvements, which are expected to further drive housing demand and long-term property values.This is a rare opportunity to acquire a stabilized, income-producing multifamily asset with strong current cash flow and additional upside potential in a rapidly improving area.All measurements are approximate and not guaranteed, buyer to verify. This is an equitable interest listing where seller is selling only an option contract or assigning an interest in a contract, such as a purchase and sale agreement or a contract for deed. Year built is unknown. This This is an equitable interest listing where seller is selling only an option contract or assigning an interest in a contract, such as a purchase and sale agreement or a contract for deed. In this situation, the seller does not have legal title to the property, but the equitable interest gives seller the right to acquire legal title. Buyer to verify all information during due diligence....
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Home facts
- Year built:2011
- Subdivision & Development:Metes And Bounds
- Listing ID #:412202
- Added:1 day(s) ago
- Updated:October 20, 2026 at 03:09 PM
Rooms and interior
- Bedrooms:6
- Total bathrooms:6
- Full bathrooms:6
- Flooring:Wood
- Kitchen Description:Dishwasher, Refrigerator
- Living area:2,666 sq. ft.
Heating and cooling
- Cooling:Window Unit(s)
Structure and exterior
- Roof:Composition Shingle
- Year built:2011
- Building area:2,666 sq. ft.
- Lot Features:Less Than 1 Acre
- Architectural Style:Multi Story
- Levels:2 Story
Schools
- High school:Lillie B. Williamson High
- Middle school:Calloway Smith Middle
- Elementary school:Leinkauf Elementary
Finances and disclosures
- Price:$600,000
- Price per sq. ft.:$225.06
Features and amenities
- Appliances:Dishwasher, Refrigerator
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