Property is “as IS”
INVESTORS DREAM!!!
Great 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.
Two of the members of the company who owns the property are licensed Alabama and Georgia real estate agents
There 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.
Duplex with income of $575 & $495. great investment property
GREAT price on this versatile property…Metal Roof is only 2 years old! Check out the 3D Virtual Tour! 9 bedrooms (most have 2 closets), 5 full baths and 2 half baths. Excellent facility for commercial or residential use with 5,000+/- sq feet and plenty of storage space. Ideal for a Physician’s practice, Daycare/Preschool, assisted living, or a boarding house. Handicapped accessible. Generous kitchen with large walk-in pantry, work island, lots of cabinets and serving bar. Great room/Dining with access to patio. Also includes Foyer, Office, Living room, Beauty shop with barber’s chair, and Over-sized Laundry room. Fire wall, Fire Alarm and Sprinkler System. Sizable Covered front porch, Fenced yard. 2 outbuildings, plus a Workshop with concrete floor & roll-up door. This property is zoned as mixed use. Buyer or Buyer’s agent to verify if zoning suits the Buyer’s needs. Need more space? See MLS# 518565 land for sale across the street, 4.2+/- acres listed for $140,000. ~~All photos are copyright protected and are the sole property of David & Kathy Brasell. Unauthorized use, distribution and/or copying are prohibited.~~
A diamond in the rough multi-family investment opportunity! This 16-unit concrete block apartment complex is a total rehab but has the potential to bring in $950 per unit after the apartments are fixed up. The current owner has started the renovation by installing a brand new architectural shingled roof and replacing all the rotten fascia. The after repaired value of the complex is estimated to be approximately $1.1 million. Pro-forma rents are $182,400 per year at $950/month.
The complex would be a perfect student housing complex as it is located within walking distance to a 4-year University. The complex is also located within minutes of the many historical attractions in Montgomery including the nationally acclaimed Equal Justice and Freedom Museum and Monument and the $90 million white water adventure park. Montgomery was named the #1 historical city in the United States by USA Today in 2014 and was listed on the NY Times list of “50 places you must visit before you die.” Come experience the southern hospitality of Montgomery and attractive investment opportunities as Alabama has the lowest property taxes in the continental U.S. As an extra tax incentive the complex is in an opportunity zone.
This 16-unit concrete block apartment complex is a total rehab but has the potential to bring in $950 per unit after the apartments are fixed up. The current owner has started the renovation by installing a brand new architectural shingled roof, replacing all the rotten fascia and has had the exterior freshly painted. The after repaired value of the complex is estimated to be approximately $1.1 million. Pro-forma rents are $182,400 per year at $950/month. Rents could even be higher if used as student housing. The same owner also has another 16-unit property close by at 613 Watts Avenue which is also on the market at a price of $559900. If both complexes are purchased the seller will offer a slight discount.
The complex would be a perfect student housing complex as it is located within walking distance to a 4-year University. The complex is also located within minutes of the many historical attractions in Montgomery including the nationally acclaimed Equal Justice and Freedom Museum and Monument and the $90 million white water adventure park. Montgomery was named the #1 historical city in the United States by USA Today in 2014 and was listed on the NY Times list of “50 places you must visit before you die.” Come experience the southern hospitality of Montgomery and attractive investment opportunities as Alabama has the lowest property taxes in the continental U.S. As an extra tax incentive the complex is in an opportunity zone.
The city of Montgomery is home to the only Hyundai car manufacturing plant in the U.S., as well as having two Air Force bases, the renowned Legacy Museum, one of the largest Shakespeare Festivals and is the State Capital. Montgomery continues to add more cultural, educational and entertainment venues every year. Come invest in the City of Dreams today!
This is a Duplex in Tuskegee currently rented section 8 for $500 each. Leases recently entered into. Property refurbished in last three years including heating and air. Total rent in $1000. Good return on investment, no repairs needed for a while! Call Now! you don’t want to miss this one. Photos done just before tenants moved in.
