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

  1242 Murray Hill Court
  Mobile AL 36606
UpdatedMay 9th, 2011
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

Similar Listings