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11 photos
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$699,900
Est. payment /mo
2 Beds
1 Bath
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Miller
MLS Listing ID 21462453
Bedrooms 2
Full Baths 1
Year Built 1988
Property Sub-Type Apartment
Property Description
VALUE-ADD MULTIFAMILY INVESTMENT OPPORTUNITY! Don't miss this opportunity to acquire an 100% occupied, 11-unit apartment complex strategically located in Birmingham with convenient access to the Birmingham's CrossPlex, Downtown Birmingham, UAB, major employment centers and transportation corridors. The property consists of 11, 2-BR, 1-BA units, each equipped with central HVAC, washer/dryer connections, and separately metered utilities. The real opportunity is in the property's significant rental upside. Current rents are below prevailing market rates, creating an attractive value-add opportunity to increase revenue over time through strategic management, improvements, and rent optimization. With 100% occupancy and considerable room for rental growth, this property offers the potential to strengthen NOI and increase the property's long-term value. Priced below its appraised value, this 11-unit complex presents a compelling opportunity for an investor, looking to expand.
Location
State AL
County Jefferson
Area Ensley, Fairfield, Midfield, West End
Interior
Heating Central w/Ind Ctrl(HEAT)
Cooling Central w/Ind Ctrl(COOL)
Flooring Laminate
Exterior
Parking Features 1 Space per Unit
Building
Foundation Crawl Space
Sewer Connected
Water Public Water
Schools
Elementary Schools Minor
Middle Schools Bush Hills Academy
High Schools Jackson-Olin
Others
Financing Conventional
Virtual Tour https://www.propertypanorama.com/instaview/bham/21462453
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Listed by Barnes & Associates
Nearby Locations