1763 Old Canal St - Apartments FOR SALE


Mobile, AL 36605
$1,240,000 USD
205-870-8580
1763 Old Canal St, Mobile, AL for Sale
$1,240,000 USD
Apartments - FOR SALE
1/16
null | Request Cap Rate

1763 Old Canal St
Mobile, AL 36605


HIGHLIGHTS

  • Demand for rental housing in this area is very high; property has a waitlist of prospective renters.

OVERVIEW

LAH Commercial Real Estate is pleased to present this 15 unit value add apartment deal located just 10 minutes from the booming downtown Mobile, AL business district. The property includes 5 buildings with 3 units per building, at a total occupancy of about 90%. Property consists of 10 2BR 1B units and 5 2BR 2B units, all with W/D hookups. Rents vary across the board thus providing a new owner with the opportunity to build equity from the start of ownership; majority of rents are well under market. CAPEX is minimal on this property, as the owner has done a fair amount of work. Tenants pay all utilities, while the Landlord pays taxes, insurance, maintenance/repairs, and common area power. Contact Broker for more details regarding financials.

FOR SALE DETAILS

PRICE

$1,240,000 USD

PRICE/SF

$120 USD /SF

# OF UNITS

15

PRICE/UNIT

$82,667

CAP RATE

Request Cap Rate

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sunset Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

28,079 SF

ZONING

B1

APN/PARCEL ID

29-10-28-1-004-043

ASK ABOUT THIS PROPERTY

Alex KyriazisLAH Commercial Real EstateMore Info
205-870-8580

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Alex KyriazisLAH Commercial Real EstateMore Info
205-870-8580

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.