INVESTORS DREAM!!!
Great 22-unit apartment building with huge upside potential. 17 of 22 units have been fully renovated and have tenants in them. There remains five 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, all but two have been renovated.
Owner pays water and trash ($27/can) as well as the electricity for the outdoor lights.
| *** 2025 fire damaged 2 units not yet renovated & roof of one building***
***Asbestos discovered in drywall / sheetrock joint compound in burned building***
***Abatement estimates available upon receipt of POF*** |
***VALUE ADD OPPORTUNITY***
-Due to the large unit sizes 900 & 1,000 square ft, an additional bedroom could be added.
-5 units are left to be renovated
-Below market rent based on the Montgomery Housing Authority last updates
-1 Br up to $932
-2 Br up to $1108
-3 Br up to 1432
-Laundry facility & vending machine additions.
-Add new roof.
-Located in Opportunity Zone providing additional tax incentives.
