This property is Off-Market
12360 Homestead Avenue
Grand Bay, AL 36541 ·
30 Units · Multifamily For Sale
Homestead Inn Apartments
|Building Size||16,000 SF||No. Stories||1|
|Property Type||Multifamily||Year Built||1996|
|Property Sub-type||Garden/Low-Rise||Lot Size||3.50 AC|
|Property Use Type||Investment||APN / Parcel ID||R02-36-07-36-3-000-044|
|Listing ID: 15077056||Date Created: 04/04/2007||Last Updated: 06/04/2007|
-- Motivated Seller - Bring All Offers! --
NOI is projected at $129,000.00 for 2007. NOI can be increased $36,000.00 by passing on utility costs to tenants, which the Landlord currently pays.
Homestead Inn Apartments is a 30-unit complex that is 100% occupied and is located just off Highway 90 and near to I-10 in Grand Bay, Alabama. Within walking distance of a new Walgreens and a CVS Pharmacy, convenience stores, Greer's Food Tiger and offices. NOI is pegged at approximately $129,000.00 for 2007. Easy on-site management and close proximity to stores and transportation are great perks. There is also a 3-bedroom, 2-bathroom house onsite used as a manager's office but could also be rented out for additional income. The site is large enough to add additional units to increase revenues.
Just south of Interstate 10 and Highway 90 with frontage on Grand Bay-Wilmer Road in Grand Bay, Alabama.
- Great Investment - Generous Cap Rate
- Motivated Seller - Bring All Offers
- Fully Occupied
- Easy Onsite Management
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