Historical Multifamily Sale Listing - Homestead Inn Apartments

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Homestead Inn Apartments

12360 Homestead Avenue, Grand Bay, AL 36541

N/A

30 Units | Multifamily

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Office Building/ 3-2 House

Multifamily Property - Off Market

Price:
N/A
No. Units:
30
Building Size:
16,000 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
3.5%
Cap Rate:
10.75%
Occupancy:
100%
No. Stories:
1
Year Built:
1996
Lot Size:
3.50 AC
APN / Parcel ID:
R02-36-07-36-3-000-044
Listing ID
15077056
Last Updated
over 1 year ago

Highlights

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

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.

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

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Created 4/4/2007