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207 Michigan Ave 6 Unit Apartment Building Offered at $475,000 Mobile, AL 36604

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Investment Highlights

Fully occupied building
On the route to new Mobile International Airport

Beautiful historic architecture

Executive Summary

Six unit apartment building currently generating over $5,500 per month in gross rent. This building is composed of five long term rental units, and one short term rental unit. Building has been partially renovated with room to update some units and increase rents. This building is located on Michigan Avenue, which will be the corridor to both the interstate for Midtown and the route to the new Mobile International Airport. Currently under professional management so perfect for out of town buyers. This building will generate income from closing day forward. Just a few of the updates done over the last few years include three updated mini split air conditioners, main panel upgrade in 2022, and a partial replumb including sewer lines. This included the majority of plumbing fixtures as well. An exterior paint job and landscaping was also done approx 2023. Building is comprised of four, one bed, one bath units, and two studios. Call for more information today.

207 Michigan Ave (1)

Property Facts

Price	$475,000	Building Size	3,482 SF
Price Per Unit	$79,167	Average Occupancy	100%
Sale Type	Investment	No. Stories	2
No. Units	6	Year Built/Renovated	1986/2024
Property Type	Multifamily Multifamily Apartments	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low-Rise

Price	$475,000
Price Per Unit	$79,167
Sale Type	Investment
No. Units	6
Property Type	Multifamily Multifamily Apartments
Apartment Style	Low-Rise
Building Size	3,482 SF
Average Occupancy	100%
No. Stories	2
Year Built/Renovated	1986/2024
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.