Motivated Seller - ready for offers! Seller will consider contributing to Buyers closing costs with an acceptable offer - a significant savings opportunity. Spacious 3-Bedroom, 2.5-Bath Condo in Midtown Mobile. Located in a well-established and beautifully maintained complex, this condo offers comfort, convenience, and charm. Enjoy lush landscaping and attractive common areas that create a welcoming environment. Inside, the home features an open-concept kitchen with a breakfast bar, a dining area, and a cozy den with a fireplace. A separate living room provides additional flexible space to suit your needs. The unit includes two oversized bedroom suites, offering comfort and privacy. Just steps from the clubhouse, pool, and fitness center, this condo is perfectly situated for enjoying the amenities of the community. Conveniently located near shopping, dining, and entertainment, with quick access to the interstate and just 45 minutes from the stunning Gulf Coast beaches. HVAC replaced in January 2025; windows replaced approximately 5 years ago and have a transferrable lifetime warranty; roof approximately 4 years old. All updates per seller. Information deemed reliable but not guaranteed; buyer and buyer's agent to verify all details. This listing contains virtually staged photos. With minimal investment, you can make this home your own. Don't miss this opportunity—schedule your private showing today! Buyer to verify all information during due diligence.
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 great 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. Buyer to verify all information during due diligence.
Investor Alert!! Great investment opportunity in a convenient Midtown location! 266 Rickarby Street includes two separate 3-unit apartment buildings located at 264 and 266 Rickarby Street, situated just south of Government Street with easy access to major thoroughfares. The property features six fully occupied units, providing immediate rental income. The unit mix includes four 2-bedroom, 1-bath apartments and two 1-bedroom, 1-bath apartments. Each unit offers hardwood floors and window HVAC units for heating and cooling. The property is serviced by gas, electricity, city water, and city sewer. All apartments are currently leased, with rents ranging from $500 to $800 per month, and one unit participating in the Section 8 program. Located just off Government Street and close to the Loop, the property offers easy access to shopping, dining, and major routes throughout the city, and is just minutes from downtown Mobile. With two buildings, six fully leased units, and a strong rental location, this property presents a fantastic opportunity for investors seeking a stable, income-producing asset. Buyer to verify all information during due diligence. *Year Built is Unknown.
Attention Investors!!! An excellent investment opportunity in the heart of Midtown! This 9-unit apartment complex offers a mix of 1- and 2-bedroom units, each with 1 bathroom, and is currently 100% occupied, providing immediate income for a new owner. Monthly rents range from $600 to $800 per unit, offering strong and consistent cash flow potential. Each unit is equipped with window air-conditioning units and are all electric, with city water and city sewer service. All apartments include a stove and refrigerator (except for one unit where the refrigerator belongs to the tenant). The property also offers on-site parking for residents. Located in a fantastic Midtown location, the property is convenient for dining, shopping, and entertainment, with easy access to major thoroughfares providing quick connectivity to all areas of Mobile. With strong occupancy, a desirable location, and steady rental history, this property presents a great opportunity for investors seeking a well-located income-producing asset. Buyer to verify all information during due diligence.
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
Mobile is located in Alabama. Mobile, Alabama has a population of 187,445. Mobile is less family-centric than the surrounding county with 21.89% of the households containing married families with children. The county average for households married with children is 27.7%.
The median household income in Mobile, Alabama is $44,780. The median household income for the surrounding county is $51,169 compared to the national median of $69,021. The median age of people living in Mobile is 37.8 years.
The average high temperature in July is 90.6 degrees, with an average low temperature in January of 39.7 degrees. The average rainfall is approximately 66.4 inches per year, with 0.1 inches of snow per year.
