Remarks

Great investment opportunity in the growing community of Grand Bay. Alabama. This property has a unique setup with a 3 unit apartment building and attached multipurpose building (currently leased to a church). Located on a main road, and only recently renovated, it already has a strong income stream. The multi-purpose building has 2 full bathrooms with showers, a large gathering area, a full kitchen, a large room currently set up for a dining area, 1 office with restroom, exterior storage rooms and a covered rear patio. This building could easily be converted for more apartments and the storage area converted for tenant use laundry facility. With full occupancy cap rate is at 10%. Handicap accessible entrances. There are no restrictions on the property so it can be converted to shops, retail, school, church, etc. Use your imagination and business skills. Exterior and interior refreshing in process so apartment tenant occupancy may vary.

Details

MLS#: 7508492
Price: $350,000

Style: Mixed Use
Year Built: 1993

County: Mobile - AL
Lot Size: 168x288
Tax Fee: 0