1300 Illinois Street, Mobile, AL 36604
METES & BOUNDS · Mobile County
Key Facts
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. Year built is unknown. This
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Living Area
2,666 sq ft
Lot Size
0.16 acres
Lot Dimensions
50 x 140
Ownership
Whole/Full
MLS® Listing#
392935
Property Features
Interior
Appliances
Cooling
Flooring
Fireplace
Parking
Foundation
Roof
Community
Sewer
Water Source
Schools
- Elementary:
- Leinkauf
- Middle:
- Calloway Smith
- High:
- Lillie B Williamson
Financial Details
HOA
None
Annual Taxes
$3,730
Parcel Number
2910272003007.
Directions
Headed West on Government Street make a left onto Ann St, heading South. Make a right onto Illinois St. Property sits on the corner of Ann and Illinois St.
Affordability Calculator
$120,000
Estimated monthly payment
$3,193/mo
Principal $480,000 · Est. interest $669,643 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Mobile, AL
- $284,615
- Median Listing Price
- 68
- Median Days on Market
- 1,863
- Median Sq Ft
- $149
- Median Price / Sq Ft
- 1,112
- Active Listings
- This home’s price is 111% above the area median.
- Its price per sq ft is 51% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Mobile, AL.
Location
Points of Interest in Mobile, AL
Showing the Mobile area map.
Nearby Schools
Craighead Elementary School
Elementary · 0.3 mi away
Williamson High School
Secondary · 0.4 mi away
Leinkauf Elementary School
Elementary · 0.5 mi away
George Hall Elementary School
Elementary · 0.7 mi away
Alabama School of Math and Science
Secondary · 1.0 mi away
LWCC Kingdom Academy
School · 1.0 mi away
Alabama Institute-Deaf & Blind
School · 1.0 mi away
Council Traditional School
Elementary · 1.1 mi away
Revelation Christian School
School · 1.1 mi away
McGill-Toolen Catholic High School
Secondary · 1.2 mi away
St Mary Catholic School
Secondary · 1.3 mi away
Murphy High School
Secondary · 1.3 mi away
Little Flower Catholic School - Mobile, Alabama
School · 1.3 mi away
Eanes Middle School
School · 1.5 mi away
Dunbar Middle School
Secondary · 1.7 mi away
Florence Howard Elementary School
Elementary · 1.8 mi away
Aidt
School · 1.8 mi away
Most Pure Heart of Mary School
School · 1.8 mi away
Maryvale Elementary School
Elementary · 2.0 mi away
Calloway-Smith Middle School
Secondary · 2.0 mi away
Commute Calculator
Nearby Homes
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Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 3933 Radnor Avenue, Mobile, AL | $425,000 | 5 | 4 | 2,493 |
| 3933 Radnor Avenue, Mobile, AL | $425,000 | 5 | 4 | 2,280 |
| 207 Michigan Avenue, Mobile, AL | $435,000 | 6 | 3 | 5,911 |
| 10709 Mcleod Road, Mobile, AL | $435,900 | 5 | 3 | 3,113 |
| 6058 Highland Woods Drive, Mobile, AL | $439,900 | 5 | 3 | 2,900 |
| 4012 Sierra Drive, Mobile, AL | $449,000 | 5 | 4 | 4,553 |
Moving Cost Estimate
EXIT Agents in Mobile
Listing Courtesy: Bellator Real Estate LLC Mobil - CELL: 251-786-4673
The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing or renting.