Homes for sale - 161 State ST, Mobile, AL 36603

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Jennifer McGregor

jennifermcgregorrealtor@gmail.com +1(850) 733-6886

Listed by Cory Bronenkamp • Cory Bronenkamp, Broker

$ 999,000

Est. payment | -/mo

8 Beds

9 Baths

4,620 SqFt

Save

$ 999,000

Est. payment | -/mo

Save

8 Beds

9 Baths

4,620 SqFt

Key Details

Property Type Condo

Sub Type Condominium

Listing Status Active

Purchase Type For Sale

Square Footage 4,620 sqft

Price per Sqft $216

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

**Re-listing after fixing errors in the listing**...................‘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

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(850) 733-6886

jennifermcgregorrealtor@gmail.com

161 State ST Mobile, AL 36603