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Mobile,AL 36603
Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active
Purchase Type For Sale
Square Footage 4,620 sqft
Price per Sqft $194
Subdivision Pine Brook
MLS Listing ID 7529148
Bedrooms 8
Full Baths 8
Half Baths 2
HOA Y/N true
Year Built 1830
Annual Tax Amount $5,812
Tax Year 5812
Lot Size 2,421 Sqft
Property Sub-Type Condominium
Property Description
RECENT REDUCTION: 8.4% RETURN!....................‘Stars on State' is a 4-unit, multi-family complex located in Downtown Mobile, AL in the Historic Detonti Square District. The property consists of two addresses under one building that is currently operated as a short-term rental complex. The building has Two 2-Bed/2 bath units and Two 2 bed/1.5 bath units. The Property is strategically positioned to capitalize on the demand for short-term accommodations in downtown Mobile, Alabama, which is experiencing a huge growth trend in tourism, entertainment, business, and lodging. The Property is just a short walk from the infamous Dauphin Street, the convention center, the cruise terminal, the soon-to-be-new Civic Center, as well as all things MARDI GRAS! This offering represents an exceptional opportunity for investors and/or owner operators seeking to acquire a fully operational short-term rental asset with immediate cash flow potential! ...................Neighborhood: Stars on State is located in a prime area of Historic Detonti Square, known for its quiet New Orleans-esque neighborhood, coffee shops, small businesses, and convenient access to all downtown has to offer...................Cash Flow: Currently generating over $127,000 per year from short-term rental income with potential for further upside through management improvements, newer furnishings, and more efficient pricing adjustments...................Attractive Market: Downtown Mobile is currently going through a growth renaissance with the addition of numerous businesses along St. Louis Street, a new Civic Center, increased cruise terminal traffic, a new Downtown airport, as well as endless infrastructure and park improvements within the Downtown perimeter. Do not miss out on the opportunity to own a well-positioned asset!...................Turnkey Opportunity: Fully furnished and equipped for short-term rental use, the complex is ready for immediate operation with minimal capital expenditures required. Full list of bookings will immediately transfer to new owners...................Transferability: This is a huge benefit…all accounts are transferable. Upon sale, we will share login/password credentials to all platforms so the new buyer literally takes the baton. All automations, reviews, processes, cleaners, etc will transfer. Everything is automated and fully transferable!
Location
State AL
County Mobile - Al
Direction From I-10, get off at water street. make a left on state street, and the unit is on your left.
Rooms
Basement None
Dining Room None
Kitchen None
Interior
Interior Features Other
Heating Central
Cooling Central Air
Flooring Other
Fireplaces Type None
Appliance Dishwasher,Disposal,Dryer,Gas Range,Microwave,Refrigerator,Washer
Laundry In Hall
Exterior
Exterior Feature None
Fence None
Pool None
Community Features None
Utilities Available Cable Available,Electricity Available,Natural Gas Available,Sewer Available
Waterfront Description None
View Y/N true
View Other
Roof Type Shingle
Building
Lot Description Zero Lot Line
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Other
Level or Stories Two
Schools
Elementary Schools Mobile - Other
Middle Schools Mobile - Other
High Schools Mobile - Other
Others
Special Listing Condition Standard