3701 - 3743 Wesley Drive
Montgomery, AL 36111
- $1,375,000
Description
INVESTORS DREAM!!!rnrnGreat 22-unit apartment building with huge upside potential. 16 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. rnrnTwo of the members of the company who owns the property are licensed Alabama and Georgia real estate agentsrnrnThere are three 1 bedroom 1 bath units, all have been renovated.rnrnThere are fifteen 2 bedroom 1 bath units, all but three have been renovated.rnrnThere are four 2 bedroom 2 bath units that have yet to be renovated. rnrnOwner pays water and trash ($27/can) as well as the electricity for the outdoor lights. rnrnPotential 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.
Features
Year Built: | 1963 |
Water: | Public |
Utilities: | Cable Available, Electricity Available, Natural Gas Available, High Speed Internet Available |
Construction: | Brick |
Cooling: | Central Air, Electric |
Flooring: | Carpet, Vinyl, Wood |
Foundation: | Slab |
Heating: | Central, Electric, Gas |
Interior: | Living Dining Room, Breakfast Bar |
Kitchen: | Electric Cooktop, Electric Oven, Electric Water Heater, Gas Water Heater |
Parking: | Concrete, Driveway |
Pool Type: | None |
Directions
From Norman Bridge Rd, turn on to E Patton Ave. Turn right onto Wesley Dr. Property is on the Left
Courtesy of: KW Montgomery
Montgomery Metro Realty
- (334) 277-9100
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