Gulf Coast Multifamily is pleased to exclusively offer Brookley Apartments, a 32-unit multifamily community at 2219 Dauphin Island Parkway in Mobile, Alabama. The property is made up entirely of one-bedroom, one-bath units averaging approximately 658 SF (21,064 rentable SF) and was built in 1967. As of September 18, 2026 the property is 93.75% occupied (30 of 32 units) with an average in-place rent of $723 on occupied units. At the offering price of $1,800,000 ($56,250 per unit), the property trades at an 8.84% cap rate on trailing-12 actual NOI of $159,168.
| Address | 2219 Dauphin Island Pkwy |
| City / State | Mobile, AL 36605 |
| Units | 32 |
| Unit Mix | 32 × 1 Bed / 1 Bath |
| Avg. Unit Size | ~658 SF |
| Rentable SF | 21,064 SF |
| Occupancy | 93.75% (30 / 32) |
| Year Built | 1967 |
| Price / Unit | $56,250 |
| Price / SF | $85 |
| Living Room | 11'2" × 14'10" |
| Kitchen | 8'1" × 11'1" |
| Bedroom | 12'8" × 12'1" |
| Bath | 5'2" × 7'0" |
| Hall | 13'7" × 7'7" |
| Closets | 5'3" × 2'6" + 5'0" × 2'5" |
| Porch | 2'11" × 5'6" |
Floor plan and room dimensions are approximate. All 32 units are one-bedroom / one-bath.
Mobile is Alabama's only saltwater port city and the economic center of a metro area of more than 430,000 residents (Mobile MSA, 2020 Census). Its economy has shifted toward aerospace, shipbuilding, logistics and port activity, and much of that growth is happening around the Brookley Aeroplex, about a mile east of Brookley Apartments. The 1,650-acre former Air Force base is now home to Airbus's U.S. manufacturing campus and Mobile's new commercial airport, with roughly 70 companies and about 3,600 employees on site.
| Project | Investment | Status / Impact |
| Airbus U.S. Manufacturing Facility — A320 Family and A220 final assembly lines, Brookley Aeroplex | $1.2B+ | Three final assembly lines (2015, 2020, Oct. 2025); 2,000+ employees on site; $82M in new projects announced Aug. 2026 |
| New Mobile International Airport terminal at Brookley | $381M | Targeted to open late 2026 with Delta, United & American; 5 gates, expandable to 12 |
| Within 3 miles of the airport | $1.6B+ | |
| I-10 Mobile River Bridge & Bayway — six-lane cable-stayed bridge | $3.2B | Financing closed Sept. 2026; full construction begins Oct. 2026, completion late 2031 |
| Austal USA shipyard expansion — submarine module & steel ship assembly | $750M | ~2,000 jobs; 369,600 SF submarine module facility |
| Mobile Harbor Modernization — channel deepened to 50 ft | $366M | Completed Oct. 2025; deepest container port on the Gulf |
| APM Terminals container berth + concurrent port projects | $331M+ | $131M new 1,300-ft berth plus $200M+ in yard and rail upgrades; ~2028 |
| Total within ~5 miles | $6.2B+ |
| New airport terminal | ~1.0 mi |
| Airbus campus | ~1.3 mi |
| Downtown Mobile | ~5 mi |
| I-10 (Dauphin Island Pkwy exit) | < 1 mi |
| Interstate network | I-10 & I-65 |
Sources: Airbus / Made in Alabama (Oct. 2025), FLYING Magazine (2020), FOX10 (2023, Aug. 2026), Business Alabama, ALDOT (Sept. 2026), Alabama Port Authority, APM Terminals, Office of the Governor of Alabama, U.S. Census Bureau. Distances are straight-line approximations.
| T12 Actual | Yr 1 Pro Forma | Yr 2 Pro Forma | Yr 3 Pro Forma | |
| Avg. collected rent / unit / mo | $682 | $725 | $765 | $805 |
| Rental income | $262,031 | $278,400 | $293,760 | $309,120 |
| Other income | $37,961 | $36,500 | $36,500 | $36,500 |
| Effective Gross Income | $299,991 | $314,900 | $330,260 | $345,620 |
| Operating Expenses | ||||
| Taxes | $9,338 | $16,250 | $16,250 | $16,250 |
| Insurance | $11,759 | $27,250 | $27,250 | $31,520 |
| R&M | $63,679 | $47,500 | $48,500 | $48,500 |
| Utilities | $15,838 | $15,838 | $16,472 | $16,471 |
| Management | $29,984 | $26,766 | $28,072 | $29,378 |
| Leasing / Marketing | $5,961 | $4,250 | $4,250 | $4,250 |
| Legal & Admin | $4,264 | $4,250 | $4,250 | $4,250 |
| Total Operating Expenses | $140,824 | $142,105 | $145,044 | $150,619 |
| Expense ratio | 46.9% | 45.1% | 43.9% | 43.6% |
| NET OPERATING INCOME | $159,168 | $172,795 | $185,216 | $195,001 |
| Cap rate at offering price | 8.84% | 9.60% | 10.29% | 10.83% |
| Debt service | — | $101,250 | $119,058 | $136,866 |
| Cash Flow After Debt Service | — | $71,545 | $66,158 | $58,136 |
| Cash-on-cash | — | 13.0% | 12.0% | 10.6% |
| DSCR | — | 1.71x | 1.56x | 1.42x |
| Purchase price | $1,800,000 |
| Closing costs / CapEx | $200,000 |
| Total project cost | $2,000,000 |
| Loan amount (75% loan-to-cost) | $1,500,000 |
| Interest rate | 6.75% |
| Amortization | 20 years |
| Interest-only period | 18 months |
| Monthly P&I after IO | $11,405.46 |
| Cash at closing (25%) | $500,000 |
| Misc. reserves | $50,000 |
| Total equity | $550,000 |
| Yr 1 | Yr 2 | Yr 3 | Yr 4 | Yr 5 | Yr 6 | Yr 7 | |
| Avg. rent / unit / mo | $725 | $765 | $805 | $829 | $854 | $880 | $906 |
| Rental income | $278,400 | $293,760 | $309,120 | $318,394 | $327,945 | $337,784 | $347,917 |
| Other income | $36,500 | $36,500 | $36,500 | $37,595 | $38,723 | $39,885 | $41,081 |
| Effective Gross Income | $314,900 | $330,260 | $345,620 | $355,989 | $366,668 | $377,668 | $388,998 |
| Operating expenses | −$142,105 | −$145,044 | −$150,619 | −$156,350 | −$162,301 | −$168,481 | −$174,900 |
| NET OPERATING INCOME | $172,795 | $185,216 | $195,001 | $199,639 | $204,367 | $209,187 | $214,099 |
| Debt service | −$101,250 | −$119,058 | −$136,866 | −$136,866 | −$136,866 | −$136,866 | −$136,866 |
| Cash Flow | $71,545 | $66,158 | $58,136 | $62,773 | $67,502 | $72,321 | $77,233 |
| Cash-on-cash | 13.0% | 12.0% | 10.6% | 11.4% | 12.3% | 13.1% | 14.0% |
| DSCR | 1.71x | 1.56x | 1.42x | 1.46x | 1.49x | 1.53x | 1.56x |
T12 actuals shown on the Operating Statement · Years 1–3 = owner pro forma · Years 4–7: rent & other income +3%/yr, operating expenses +4%/yr, management 8.5% of EGI; exit at an 8.25% cap.
| Year 7 NOI | $214,099 |
| Exit cap rate | 8.25% |
| Gross sale price | $2,595,135 |
| Implied price per unit | $81,098 |
| Less: closing costs (6%) | −$155,708 |
| Less: loan payoff | −$1,263,598 |
| Net proceeds to equity | $1,175,829 |
| Year | Operating | Sale | Total |
| Year 0 | −$550,000 | −$550,000 | |
| Year 1 | $71,545 | $71,545 | |
| Year 2 | $66,158 | $66,158 | |
| Year 3 | $58,136 | $58,136 | |
| Year 4 | $62,773 | $62,773 | |
| Year 5 | $67,502 | $67,502 | |
| Year 6 | $72,321 | $72,321 | |
| Year 7 | $77,233 | $1,175,829 | $1,253,062 |
| Total | $475,668 | $1,175,829 | $1,101,497 |
| Unit | Type | Lease Start | Lease End | Rent | Total Charges | Deposit | Status |
| 101 | 1 Bed / 1 Bath | 5/1/2025 | 5/31/2027 | $725 | $779.99 | $750 | Occupied |
| 102 | 1 Bed / 1 Bath | 12/12/2025 | 12/31/2026 | $700 | $754.99 | $250 | Occupied |
| 103 | 1 Bed / 1 Bath | 4/1/2022 | 12/31/2026 | $710 | $764.99 | $250 | Occupied |
| 104 | 1 Bed / 1 Bath | 2/6/2026 | 1/31/2027 | $730 | $799.99 | $500 | Occupied |
| 105 | 1 Bed / 1 Bath | 8/1/2025 | At-will | $760 | $814.99 | $750 | Month-to-month |
| 106 | 1 Bed / 1 Bath | 4/20/2026 | 3/31/2027 | $730 | $784.99 | $730 | Occupied |
| 107 | 1 Bed / 1 Bath | 1/7/2025 | At-will | $739 | $894.00 | $900 | Month-to-month |
| 108 | 1 Bed / 1 Bath | — | — | — | — | — | Vacant |
| 109 | 1 Bed / 1 Bath | 5/1/2023 | 4/30/2027 | $735 | $789.99 | $942 | Occupied |
| 110 | 1 Bed / 1 Bath | 4/26/2024 | 4/30/2027 | $760 | $814.99 | $725 | Occupied |
| 111 | 1 Bed / 1 Bath | 12/2/2024 | 11/30/2026 | $700 | $754.99 | $699 | Occupied |
| 112 | 1 Bed / 1 Bath | 12/23/2024 | 12/31/2026 | $700 | $754.99 | $699 | Occupied |
| 113 | 1 Bed / 1 Bath | 4/17/2026 | 3/31/2027 | $770 | $770.00 | $1,000 | Occupied |
| 114 | 1 Bed / 1 Bath | 5/28/2025 | 9/21/2026 | $720 | $794.99 | $750 | Occupied |
| 115 | 1 Bed / 1 Bath | 7/8/2024 | 6/30/2027 | $770 | $824.99 | $1,000 | Occupied |
| 116 | 1 Bed / 1 Bath | 8/7/2024 | 7/31/2027 | $725 | $779.99 | $725 | Occupied |
| 201 | 1 Bed / 1 Bath | 2/7/2025 | 1/31/2027 | $675 | $729.99 | $699 | Occupied |
| 202 | 1 Bed / 1 Bath | 2/24/2026 | 2/28/2027 | $730 | $784.99 | $500 | Occupied |
| 203 | 1 Bed / 1 Bath | 4/1/2022 | 1/30/2027 | $575 | $615.00 | $250 | Occupied |
| 204 | 1 Bed / 1 Bath | 10/11/2023 | 10/31/2026 | $715 | $764.99 | $545 | Occupied |
| 205 | 1 Bed / 1 Bath | 6/2/2025 | 6/30/2027 | $780 | $794.99 | $750 | Occupied |
| 206 | 1 Bed / 1 Bath | — | — | — | — | — | Vacant |
| 207 | 1 Bed / 1 Bath | 1/1/2026 | 12/31/2026 | $803 | $817.99 | $500 | Occupied |
| 208 | 1 Bed / 1 Bath | 4/12/2024 | 4/30/2027 | $735 | $789.99 | $750 | Occupied |
| 209 | 1 Bed / 1 Bath | 2/1/2024 | 1/31/2027 | $600 | $654.99 | $495 | Occupied |
| 210 | 1 Bed / 1 Bath | 3/3/2023 | At-will | $715 | $864.99 | $250 | Month-to-month |
| 211 | 1 Bed / 1 Bath | 1/23/2026 | 1/31/2027 | $730 | $784.99 | $500 | Occupied |
| 212 | 1 Bed / 1 Bath | 9/28/2022 | 4/30/2027 | $725 | $779.99 | $525 | Occupied |
| 213 | 1 Bed / 1 Bath | 10/28/2024 | 10/31/2026 | $700 | $769.99 | $699 | Occupied |
| 214 | 1 Bed / 1 Bath | 9/4/2025 | 8/31/2027 | $840 | $894.99 | $1,000 | Occupied |
| 215 | 1 Bed / 1 Bath | 8/19/2026 | 8/1/2027 | $730 | $784.99 | $2,230 | Occupied |
| 216 | 1 Bed / 1 Bath | 12/16/2024 | At-will | $664 | $713.99 | $699 | Month-to-month |
| Total | 32 units · 21,064 SF | $21,691 | $23,425.73 | $21,062 | 93.75% occ. |
Tenant names withheld. Total Charges include base rent plus recurring utility and fee charges. Full rent roll, T12 and delinquency report available to qualified buyers with an executed Confidentiality Agreement.
Steven Rowe is the founder and broker of Gulf Coast Multifamily, an exclusive multifamily brokerage focused on 10+ unit properties across a 25-county footprint in Alabama, Mississippi and Florida. For 20 years, Steven has worked in construction, real estate, property management and development, and he brings that experience to every property he evaluates.
Tours are scheduled only after a buyer is qualified with the listing broker. Qualification requires a signed Confidentiality Agreement plus proof of funds, a letter of credit, or a current Schedule of Real Estate Owned (SREO). Please do not contact on-site staff or residents.
This Offering Memorandum has been prepared by Gulf Coast Multifamily for use by a limited number of prospective purchasers and is not to be used for any other purpose. The information contained herein was obtained from the owner, its property manager and other sources deemed reliable; however, no representation or warranty, express or implied, is made as to its accuracy or completeness. Pro forma projections, including rent growth, expenses, financing terms, exit cap rate, IRR and equity multiple, are estimates for illustration only and are not guarantees of future performance. Prospective purchasers should conduct their own independent investigation and rely solely on their own due diligence, tax and legal advisors. The owner reserves the right to reject any offer and to terminate discussions at any time without notice.