This Multifamily Property is Off-Market.

12360 Homestead Avenue
Grand Bay, AL 36541 ·

30 Units · Multifamily For Sale

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Homestead Inn Apartments

Price N/A Cap Rate 10.75%
No. Units 30 Occupancy 100%
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
Commission Split 3.5%
Listing ID: 15077056 Date Created: 04/04/2007 Last Updated: 06/04/2007

Description

-- 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.

Highlights

  • Great Investment - Generous Cap Rate
  • Motivated Seller - Bring All Offers
  • Fully Occupied
  • Easy Onsite Management

Research

12360 Homestead Avenue, Grand Bay, AL 36541 (Mobile County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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