302 michigan avenue

Updated and stabilized, ten unit apartment complex in Midtown Mobile! Updated roof, fresh interior and new lighting. All with neutral colored paint, and vinyl plank floors. The kitchens are updated with white cabinets and countertops. Seven units are studio apartments, two units are two bedrooms, and one unit is a three bedroom. Out of the ten units, eight are currently long term tenants with one year leases, two units are being utilized as short term rentals. The short term rental units are generating approx $1200 per month, per unit. The rents on the long term units vary by unit. Rent rolls available by request. Property is near full occupancy and generates around $8500 gross per month on average. This area has seen great improvement and has excellent future appreciation potential. Located less than half a mile from Downtown Mobile, close to interstate access and not far from Mardi Gras parade routes. Roofs, plumbing, and electrical updates are approximately 8 years old. Call for more information. All improvements per seller. Buyer to verify all information during due diligence.