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Sunset Apartments 1763 Old Canal St

15 Unit Apartment Building $1,240,000 ($82,667/Unit) Mobile, AL 36605

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Investment Highlights

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

Executive Summary

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.

Sunset Apartments Flyer

Property Facts

Price	$1,240,000	Lot Size	0.64 AC
Price Per Unit	$82,667	Building Size	10,339 SF
Sale Type	Investment	Average Occupancy	94%
No. Units	15	No. Stories	1
Property Type	Multifamily	Year Built	1985
Property Subtype	Apartment	Parking Ratio	2.51/1,000 SF
Apartment Style	Garden	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.
Building Class	C

Price	$1,240,000
Price Per Unit	$82,667
Sale Type	Investment
No. Units	15
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	0.64 AC
Building Size	10,339 SF
Average Occupancy	94%
No. Stories	1
Year Built	1985
Parking Ratio	2.51/1,000 SF
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.