Viewing Listing MLS# 7326558
Montgomery, AL 36111
- N/ABeds
- N/AFull Baths
- N/AHalf Baths
- N/A SqFt
- 1963Year Built
- 1.55Acres
- MLS# 7326558
- Multifamily
- Other
- Active
- Approx Time on Market3 months, 12 days
- AreaN/A
- CountyMontgomery - AL
- SubdivisionNormandale
Overview
INVESTORS DREAM!!!22-unit apartment building with huge upside potential. 15 of 22 units have been fully renovated and have tenants in them. There remains seven units to be remodeled. This is a great investment. All 1 Bedroom units are 900+ square feet and the 2 Bedroom apartments are 1000+ Sq/Ft with large patio/balconies. There is an incredible courtyard out back offering residents a place to rest and relax among nature. Two of the members of the company who owns the property are licensed Alabama and Georgia real estate agentsThere are three 1 bedroom 1 bath units, all have been renovated.There are fifteen 2 bedroom 1 bath units, all but three have been renovated.There are four 2 bedroom 2 bath units that have yet to be renovated. Owner pays water and trash ($27/can) as well as the electricity for the outdoor lights. Potential monthly gross income for the 1 bdrm 1 bath units is $675 x 3 units=$2025, $875 x 15 units is $13125 and $950 x 4 =$3800. Therefore, the total potential gross monthly rental income is $18,950 or $227,400 annually.
Association Fees / Info
Hoa: No
Community Features: Near Schools, Near Shopping, Public Transportation, Sidewalks, Street Lights
Bathroom Info
Building Info
Habitable Residence: Yes
Number of Units Total: 22
Exterior Features
Fence: Brick
Pool Private: No
County: Montgomery - AL
Acres: 1.55
Financial
Original Price: $1,400,000
Owner Financing: Yes
Garage / Parking
Parking Features: Parking Lot
Green / Env Info
Green Energy Generation: None
Handicap
Accessibility Features: None
Interior Features
Security Ftr: None
Levels: Two
Lot Info
Lot Size Source: Public Records
Lot Features: Level
Lot Size: 149 x 110
Misc
Property Attached: No
Home Warranty: Yes
Open House
Other
Property Info
Construction Materials: Brick 4 Sides
Year Built: 1,963
Property Condition: Resale
Roof: Shingle
Property Type: Residential Income
Rental Info
Land Lease: Yes
Special Features
Green Features: None
Special Listing Conditions: None
Special Circumstances: Investor Owned, Sold As/Is
Tax Info
Tax Amount Annual: 4380
Tax Year: 2,022
Tax Parcel Letter: 10-09-30-4-014-002.000
Unit Info
Utilities / Hvac
Cool System: Central Air, Electric
Heating: Central
Utilities: Cable Available, Electricity Available, Natural Gas Available, Phone Available
Sewer: Public Sewer
Waterfront / Water
Water Body Name: None
Water Source: Public
Waterfront Features: None
Directions
From Norman Bridge Rd, turn on to E Patton Ave. Turn right onto Wesley Dr. Property is on the LeftListing Provided courtesy of Keller Williams Buckhead