161 State St Mobile, AL 36603
Midtown Mobile NeighborhoodEstimated payment $4,588/month
Highlights
- 2 Fireplaces
- Zero Lot Line
- Central Heating and Cooling System
About This Home
Calling all investors!....................‘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 full 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 entertainment district, convention center, cruise terminal, 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 $125,000 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!
Listing Agent
Cory Bronenkamp
Acre Development, LLC License #122116-1 Listed on: 02/22/2025
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $3,022
Year Built
- Built in 1830 | Remodeled
Lot Details
- 1 Common Wall
- Zero Lot Line
HOA Fees
- $149 per month
Parking
- On-Street Parking
Home Design
- Brick Exterior Construction
- Slab Foundation
- Shingle Roof
Interior Spaces
- 4,620 Sq Ft Home
- 2-Story Property
- 2 Fireplaces
Kitchen
- Gas Range
- Microwave
- Dishwasher
- Disposal
Bedrooms and Bathrooms
Laundry
- Laundry in Hall
- Dryer
- Washer
Home Security
Utilities
- Central Heating and Cooling System
- 110 Volts
- Cable TV Available
Listing and Financial Details
- Assessor Parcel Number 2906400002069
Community Details
Overview
- 4 Units
- Franklin Subdivision
Security
- Carbon Monoxide Detectors
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/04/2025 12/04/25 | Price Changed | $799,000 | -3.2% | $173 / Sq Ft |
| 07/18/2025 07/18/25 | Price Changed | $825,000 | -8.2% | $179 / Sq Ft |
| 03/27/2025 03/27/25 | Price Changed | $899,000 | -5.3% | $195 / Sq Ft |
| 03/10/2025 03/10/25 | Price Changed | $949,000 | -5.0% | $205 / Sq Ft |
| 02/22/2025 02/22/25 | For Sale | $999,000 | -- | $216 / Sq Ft |
Source: Gulf Coast MLS (Mobile Area Association of REALTORS®)
MLS Number: 7529148
APN: 29 06 40 0 002 069.XXX
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