Multi-Family Investment AL

Multi-Family for Sale
Catylist Listing ID: 30765420
Property Subtypes: Government Subsidized, Mid-Rise
Number of Units: 14 Units
Building Size (RSF): 11,856 SF
Gross Land Area: 74,700 SF
Sale Price: $1,400,000
Unit Price: $100,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: 5.3%
Average Occupancy Rate: 95
Last Updated: 10/18/2021

Overview / Comments

Perfectly positioned Multi-Family property.
Easy access to amenities for the tenants and bussing.

This 14 unit apartment building is located in a great rental area of Birmingham. These apartments rent very quickly, and have for the last several years. 11 of the 14 units are rented through subsidy programs. 10 of the 14 units have been renovated since 2017. The ones that have not been renovated and updated have long term tenants in place. When properties became vacant the sellers have updated and raised rents. Upgrades include: new LVP flooring, new wood kitchen cabinets and bath vanities, new fixtures, and paint. The exterior of the property has been recently painted. 1/3 of the roof structure and shingles were replaced in 2017. Tenants pay all utilities.

Attachments & Media

Additional Details

Nearest MSA: Birmingham-Hoover
County: Jefferson
Percent Occupied: 95%
Total Number of Buildings: 1
Number of Stories: 2
Parking Type: Surface
Legal Description: PARCEL #: 12 00 30 3 010 001.000

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,318 60,592 118,591
Median Age: 37.12 35.94 36.17
Households: 4,818 23,632 45,665

Contact

Photograph of Listing Agent

Ashley Missel

KW Commercial Greater Chattanooga REALTORS® Member
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