302 Michigan Ave Mobile, AL 36604
Leinkauf NeighborhoodEstimated payment $3,921/month
About This Home
Look no further for a strong investment opportunity featuring three buildings with a total of 10 units, providing multiple income streams and excellent potential for continued cash flow. Eight units are occupied by long-term tenants, offering stable, consistent rental income, while two ADUs operate as Airbnb rentals, providing additional short-term rental revenue and flexibility.
The property currently generates over $8,000 in gross monthly income, making this an attractive opportunity for investors seeking an established income-producing asset. The diversified rental model combines the stability of long-term leases with the earning potential of short-term rentals. Current owner has also completed significant upgrades to the property. The two ADU buildings that house the AirBNB rentals have been completely remodeled and are fully furnished. New floors, subfloor, appliances, new PEX water lines, tankless water heater in Unit 10, mini split and brand new shower in Unit 9. New shower installed in unit 1. Sewer plumbing has been updated in the main building with additional clean outs added.
With 10 total units across three buildings, this property offers scale, built-in income diversification, and potential for future growth. A compelling addition to any investment portfolio—schedule your private showing today!
Map
Property Details
Home Type
Multi-Family
Year Built
1982
Lot Details
10,406 Sq Ft Lot
Listing Details
- Property Type: Residential Income
- Community Features: None
- Fencing: None
- Lot Features: Corner Lot
- LotSizeAcres: 0.2389
- View: City
- Has View?: Yes
- Waterfront Features: None
- Waterfront?: No
- Co List Office Mls Id: GCMWELLHOUSE
- Co List Office Phone: 251-230-5008
- Co List Office Mls Id: GCMWELLHOUSE
- Co List Office Phone: 251-230-5008
- Subdivision Name: Glendale Park
- Accessibility Features: None
- Has Cooling?: Yes
- Heating: Wall Unit(s)
- Unit Levels: Two
- Efficiency: None
- Year Built: 1982
- GCMLS2_MlsPropertyType: Residential Income
- Special Features: None
- Property Sub Type: MultiFamily
Interior Features
- Window Features: None
Exterior Features
- Construction Type: Asbestos
- Roof: Shingle
Garage/Parking
- Parking Features: Parking Lot, Paved
Utilities
- Cooling: Ceiling Fan(s), Wall Unit(s), Window Unit(s)
- Heating Yn: Yes
- Sewer: Public Sewer
- Utilities: Cable Available, Electricity Available, Natural Gas Available, Sewer Available, Water Available
- Water Source: Public
Schools
- Elementary School: Leinkauf
- High School: Murphy
- Middle Or Junior School: Calloway Smith
Lot Info
- Lot Size Sq Ft: 10406.484
Multi Family
- Number Of Units Total: 10
Tax Info
- Tax Annual Amount: 928
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $980 | $14,620 | $8,380 | $6,240 |
| 2024 | $980 | $14,620 | $8,380 | $6,240 |
| 2023 | $980 | $13,820 | $8,320 | $5,500 |
| 2022 | $447 | $7,040 | $4,800 | $2,240 |
| 2021 | $447 | $7,040 | $4,800 | $2,240 |
| 2020 | $356 | $5,600 | $3,180 | $2,420 |
| 2019 | $361 | $5,680 | $3,180 | $2,500 |
| 2018 | $340 | $5,360 | $0 | $0 |
| 2017 | $340 | $5,360 | $0 | $0 |
| 2016 | $334 | $5,260 | $0 | $0 |
| 2013 | $391 | $6,040 | $0 | $0 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 08/26/2026 08/26/26 | For Sale | $699,000 | +20.5% | -- | |
| 10/09/2024 10/09/24 | Sold | $580,000 | 0.0% | $863 / Sq Ft | View Prior Sale |
| 09/24/2024 09/24/24 | Pending | -- | -- | -- | |
| 09/20/2024 09/20/24 | Price Changed | $580,000 | -10.8% | $863 / Sq Ft | |
| 09/19/2024 09/19/24 | For Sale | $649,900 | -- | $967 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $580,000 | None Listed On Document | |
| Trustee Deed | $404,021 | None Listed On Document | |
| Warranty Deed | $330,000 | Dst | |
| Warranty Deed | $7,500 | -- |
Source: Gulf Coast MLS (Mobile Area Association of REALTORS®)
MLS Number: 7829544
APN: 29-10-22-3-003-057
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Ask me questions while you tour the home.