Property Listing No Longer Available for Sale

1242 Murray Hill Court, Mobile, AL

Multi-family for Sale - $2,166,000 - 78,534 Sq. Ft. on 10.1 acres


Property Info

CIMLS#93725
Location
  1242 Murray Hill Court
  Mobile AL 36606
UpdatedMay 9th, 2011
TypeMulti-family
Price$2,166,000
Building78,534 Sq. Ft.
Land10.1 acres

Property Description

This established apartment community provides an opportunity for a new owner to invest in physical and management improvements that will increase its value significantly. A rent increase of $50 per month will increase the value by approximately $1 million above the cost of the property and improvements. The units sprawl over a ten acre site with plenty of open space and potential to redevelop part or all of the property. Of the 122 units, 92 are one-story, ground-level units, providing an opportunity to reorient this community to a senior citizen clientele.

Contact Ernie Eden, CCIM

404.876.1640 x156

Ernie@BullRealty.com



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