Gulf Shores, AL 251-543-1370

1300 Illinois Street $600,000

MLS#: 392935
Address: 1300 Illinois Street
City / Zip: Mobile, AL 36604
Type: Residential Income

6

Bedrooms

Mobile

City

Add to Favorites Print Property

Overview
Map

Overview

Click the main image above for larger images

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

This listing is provided courtesy of Bellator Real Estate, LLC Span

Map

Map may not be 100% accurate.

Amenities

Property Amenities

Interior Features
- Dishwasher
- Refrigerator
Flooring
- Wood
Cooling
- Window Unit(s)
- Other
Sewer
- City
Fireplace
- 0
Roof
- Composition Shingle
Exterior Features
- City
- Water City
- Sewage City
- Alabama Power
Parking
- Other/See Remarks
Exterior Finish
- OtherSeeRemarks

Share This Property

Want To Know More About This Listing?

Additional Information

Nearby Schools Mortgage Calculator

Renting with Sunset Properties -
I cannot say enough good things about Indies 603 and the amazing staff at Sunset Properties!! Everything was spotless, had everything we need and the check in and checkout process was flawless. Communication was amazing with the staff and very easy! Do not hesitate to book here or any other location with Sunset Properties.
J.Eagle

Guest Property Review -
What a great little place!! Everything you could possibly want to do is within walking distance. The room was very clean and the bed was extra comfortable! It was the perfect size for 2 people and the property manager was very helpful. She answered all questions immediately upon texting her. If you are looking for a very affordable place for a few days, Beachview 223 is the one!

Renee

Renting with Sunset Properties -
The location of the property itself was very nice and clean. The condo was even nicer in person and actually very roomy. Everything was clean and stocked very well. There's a great view of the beach. My favorite part was how quiet the location was. There wasn't much traffic and we rarely even seen other people. The beach was beautiful and very private. At most, we shared it with maybe 20 other people at one time. One time we were the only ones on the beach. There's a 20-30 drive to all the tourists type things depending on traffic which isn't too bad and there's a Dollar General just a few miles up the road in case you forgot something.
S.Parker

Renting with Sunset Properties -
Sunset Properties did an amazing job. Great communication, super responsive, friendly and helpful. We will book with them again for sure!
R.Behm

Renting with Sunset Properties -
Staying at the Dunes was amazing. Beach views of sunset and sunrise from the balcony were unobstructed. Beach walks were uncrowded and peaceful. Loved my stay and will return.
H.Sumner

Renting with Sunset Properties -
I loved staying in this condo at the Phoenix West. The beds were very comfortable and I got a good nights sleep every night I was here. The view of the beach, pools and lazy river were spectacular. The TVs had all the streaming services so you could pretty much watch what you wanted. Had everything needed in the kitchen and bar along with a drip coffee maker and Keurig. The refrigerator was large and looked fairly new, enough to hold all you would need. I would highly recommend this condo for any trip to Orange Beach. Would definitely stay here again!
J.Marrone

Renting with Sunset Properties -
Eden's Waters is a beautiful, well-maintained property. This is the second time we've rented it and have reserved it for next year!
M.Ledet

Renting with Sunset Properties -
This was our 5th year, I believe, coming to Fort Morgan. I discovered Sunset Properties that first year and have used them every year and never looked back. They take care of you, have great customer service, and some of the best prices around. They treat you like family and make any wrongs (if any) right. You will not go wrong choosing Sunset Properties, give em a try, and if you enjoy the area like we do you will be back year after year like us.
J.Williams

Renting with Sunset Properties -
This is a clean, peaceful place to enjoy a stay! Communication was fantastic.
L.Brewer

Guest Property Review -
#138 is perfect for a couple. We took a quick last minute trip and booked the day before we arrived and enjoyed every moment. The building is older and not much to look at but our room was great and we loved the location!
Jessica

251-543-1370

Quick Links

First Name:	Last Name:
Phone:	Email:
Best Time to Call:
Comments/Questions:

Friend's First Name:	Friend's Last Name:
Friend's Email:
Comments/Questions:

Home value:
Mortgage loan amount:
APR (in %):
Loan term (# years):
Real estate taxes (%):
Homeowners insurance (%):
PMI (%):
Closing costs ($0 if not in loan):


Monthly Principal & Interest:
Monthly Taxes, Insurance & PMI:
Total monthly payment:
Down Payment (w/o closing cost):

1300 Illinois Street $600,000

6

Mobile

Overview

About

Map

Amenities

Property Amenities

Interior Features

Flooring

Cooling

Sewer

Fireplace

Roof

Exterior Features

Parking

Exterior Finish

Share This Property

Want To Know More About This Listing?

Additional Information