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USAALMobileGlendale Park1300 Illinois Street
Front Of Structure | Image 1

1300 Illinois Street, Mobile, AL

Real Estate

For Sale

Listed price in listed location currency (USD).
$600,000

660

MLS® 392935

Overview

Key Facts

Type Multi Family
Levels Residential Income
Size 2666 sqft
Garage No
Taxes $3,730
Days Active 0
Lot Size 0.1607 acres
Approx. Age 
Avg. Price Per Sqft $225
MLS® Number 392935

Property Address: 1300 Illinois Street, Mobile, AL, 36604

Average square foot calculated using Size range provided by listing agent.

Description

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. In this situation, the sell
MLS® Number392935
Laundry Level
Central VacNo
FireplaceNo
Acreage0.1607
Exterior
GarageNo
Approx. Age
Basement
DrivewaySee Remarks
Garage Spaces
Heat
A/C
Heating Fuel

Extras

Rooms

Change to metres

Master Bedroom:Not available

Price History

-End Date
Not Sold YetSold Price

For Sale

Mar 6, 2026List Date
$600,000List Price

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