1302 Navco Rd, Mobile, AL 36605

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Building Details:

• Year Built: 1966

1302 Navco Rd is a mixed-use property located in Mobile, AL. The property currently has 1 land and 1 multi-family space for lease and is marketed by Beck Partners Cre, Llc and Cummings & Associates, Inc..

Oak Knoll Apartments is a value add opportunity & is comprised of forty-four 2BR/1BA units approx. 950sf each. The property sits on 2.6 acres, has 90 parking spaces, laundry room & sits next to a grocery anchored neighborhood center. Each unit has a front & rear access & the second floor apartments are accessed from the front or rear breeze way. The buildings are frame construction on slab with brick veneer and pitched roofs. The property was built in 1966. There's an opportunity to update the units and bring the rents up $50-$100, depending on updates. Current rents are $525/month & there are 9 vacancies. 4 units are down to a fire, 1 is being used as storage, one is being used as the office and 3 are make readies. The 4 unit building that burned has two units severely damaged & the other 2 units suffered smoke damage. The fire occurred more than 2 years ago & the cause was grease fire started in the kitchen. The building has been released back to the ownership for repair. There are numerous ways to bring more value to this asset and increase the NOI coming out of your first year in operation significantly. This listing will not last long and is priced to sell fast.

Value Add Opportunity

80% Occupancy

Below Market Rents

Over a 10% Cap Rate

Strong Rental Market

• Available Spaces

Suite	Space Type	Pricing	Size
---	Multi-Family Space	For sale: Contact for Pricing
View Details Listing company: Beck Partners Cre, Llc Pricing: Contact for Pricing Availability: Now Listing ID: 922772 Save to list
---	Land	For sale: Contact for Pricing	1,757,210 sqft
View Details Listing company: Cummings & Associates, Inc. Pricing: Contact for Pricing Availability: Now Listing ID: 1014541 Save to list