251-543-1370

531 Laurel Avenue

MLS#: 367907
Address: 531 Laurel Avenue
City / Zip:Foley, AL 36535
Type: Residential Income

0.59

Acreage

6

Bedrooms

Area

Overview

This charming six-plex, built in 1925, is a historical gem located just steps from Foley Downtown. With only four owners in nearly a century, this property sits on a little over half an acre. Currently operated as a 55+ community, it's consistently 100% occupied. Walking distance to Foley Elementary and Middle Schools, and downtown with all you need doctor's offices, vet clinic, restaurants, shops - you name it. South Baldwin Regional Medical Center, Police Department, Municipal Court, DMV, Riviera Utilities and more are located within 2 miles radius. The two-story building houses six units, each offering 1 bedroom and 1 bathroom and its own kitchen. Five units are on the main floor, while one occupies the upstairs level. All units come equipped with individual mini-split A/C systems. Coin laundry is available for common use. There's also a full basement, not in use by tenants, offering extra potential. Ample on-site parking is available for tenant convenience. Utilities are included in the tenant's monthly payments. The property underwent a renovation in 2018, with updated electrical, plumbing, sprinkler, and smoke detector systems, ensuring modern functionality in a historic setting. Buyer to verify all information during due diligence.

Amenities

    Property Amenities

    • Interior Features

      • Cooktop
      • Electric Range
      • Smoke Detector
    • Flooring

      • Tile
      • Wood
      • Laminate
    • Cooling

      • Other
    • Heating

      • Other
    • Sewer

      • City
    • Fireplace

      • 0
    • Roof

      • Tile
      • Metal
    • Exterior Features

      • City
      • Water City
      • Sewage City
      • Riviera Utilities
    • Parking

      • Attached
      • Three Or More Vehicles
    • Exterior Finish

      • Brick