Multifamily
Homestead Apartments
12360 Homestead, Grand Bay, AL 36541
Listing Price: $1,950,000
Investment Overview
The Homestead Apartments is a lucrative investment opportunity with 34 units positioned in a prime location, this meticulously maintained complex offers a blend of modern living and convenience. Each unit is designed for comfort and functionality, attracting a diverse range of tenants. The property's proximity to US-90 gains tenants easy access to major transportation routes and ensures high demand and consistent occupancy rates. With a strong rental history and potential for future growth, this complex presents an attractive prospect for investors seeking stable returns. This offering is a chance to acquire a well-established income-generating asset in the thriving Mobile Metropolitan area.
Homestead Apartments
Investment Highlights
- Property is conveniently located near major retailers including Walgreens, Dollar General, and Family Dollar, along with local retailers including The Roastery Coffee Co. and Grand Bay Pharmacy
- Real estate is comprised of 9 apartment buildings (7 triplexes, 1 quadplex, and 1 fiveplex) and 3 single-family homes (4 units)
- The property is situated just off major highway US-90 with quick access to downtown Mobile, AL (25 miles) and Pascagoula, MS (15 miles) with a
- Over $80,000 has been invested into capital improvements including new roofs, window units, and hardware/appliances
- Property contains a laundry facility with multiple washer and dryers
- Units are individually metered for electric. Tenants are charged a utility bill-back of $40-$50 for water each month
- One unit is currently used a property management office, but can be converted into a one bedroom unit without any further construction
- Buildings are constructed on a slab
Broker of Record
Financing By
Listing Price: $1,950,000
Investment Highlights
- Property is conveniently located near major retailers including Walgreens, Dollar General, and Family Dollar, along with local retailers including The Roastery Coffee Co. and Grand Bay Pharmacy
- Real estate is comprised of 9 apartment buildings (7 triplexes, 1 quadplex, and 1 fiveplex) and 3 single-family homes (4 units)
- The property is situated just off major highway US-90 with quick access to downtown Mobile, AL (25 miles) and Pascagoula, MS (15 miles) with a
- Over $80,000 has been invested into capital improvements including new roofs, window units, and hardware/appliances
- Property contains a laundry facility with multiple washer and dryers
- Units are individually metered for electric. Tenants are charged a utility bill-back of $40-$50 for water each month
- One unit is currently used a property management office, but can be converted into a one bedroom unit without any further construction
- Buildings are constructed on a slab
Investment Overview
The Homestead Apartments is a lucrative investment opportunity with 34 units positioned in a prime location, this meticulously maintained complex offers a blend of modern living and convenience. Each unit is designed for comfort and functionality, attracting a diverse range of tenants. The property's proximity to US-90 gains tenants easy access to major transportation routes and ensures high demand and consistent occupancy rates. With a strong rental history and potential for future growth, this complex presents an attractive prospect for investors seeking stable returns. This offering is a chance to acquire a well-established income-generating asset in the thriving Mobile Metropolitan area.
Broker of Record
-
Eddie Greenhalgh
Senior Vice President Investments
Financing By
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