3171 Pleasant Valley RdMobile, AL 36606

This exceptional investment opportunity presents a stabilized 24-unit apartment building in Mobile, Alabama. The property, comprised of two two-story buildings situated on a 46,722 square foot lot, features 24 spacious two-bedroom, one-bathroom units, each measuring 875 square feet. A complete renovation was undertaken between 2019 and 2023, enhancing the property's appeal and value. Further bolstering its appeal is a new laundry facility added in 2022. Currently boasting a 92% occupancy rate (as of October 1, 2024), the property generates a Net Operating Income (NOI) of $102,729, with a pro-forma NOI of $118,306. The property's strong performance is reflected in its attractive 7.13% cap rate and a pro-forma cap rate of 8.22%. Built in 1969, this Class C multifamily investment offers significant upside potential through increased rents and reduced vacancy. The asking price is $1,440,000. Located in a quiet residential area, this property presents a compelling opportunity for investors seeking a stable, high-performing asset in a growing market. The property is conveniently located in Mobile County, Alabama, zip code 36606, at 3171 Pleasant Valley Rd.