16-22 Florida Street

Description

This 8-unit apartment complex offers an exceptional investment opportunity in Midtown Mobile, boasting a strong short-term and mid-term rental history and fully furnished accommodations. The property includes seven 2-bedroom 1-bathroom units and one 1 bedroom 1 bath unit as well as all current furnishings. Additionally, there is a well-equipped laundry center featuring two commercial washers and two commercial dryers, complete with storage for linens and owner supplies. All appliances and furnishings will remain, making this a turn-key investment opportunity for both local and out of state investors. The current owners will include the current business infrastructure with the sale, along with contacts for the laundry, maintenance, landscape, and cleaning services they currently employ. This listing encompasses four parcels that will be sold as a package deal, including 16, 18, 20, and 22 South Florida Street. There is ample space behind each building for potential future development or expansion. Because each duplex is on its own parcel the property is eligible for traditional 30-year financing and does not require commercial financing. Recent updates add to the appeal of this investment; the roof was replaced in 2022, one water heater replaced in 2024, new exterior staircase and cosmetic updates to all interiors. These modern amenities enhance the overall value and desirability of this Midtown gem. Don't miss this opportunity to secure a strong investment in a prime location with a promising rental history and room for future growth. Listing agent is related to the seller.