This Multifamily Property is For Sale.

534 rosa parks
Montgomery, AL 36108 ·

60 Units · Multifamily For Sale

$250,000

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rosa parks apartments

Price $250,000 Property Type Multifamily
No. Units 60 Property Sub-type Garden/Low-Rise
Building Size 36,538 SF Property Use Type Investment
Price/Unit $4,166.67 Cap Rate 30%
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Listing ID: 17609409 Date Created: 04/10/2012 Last Updated: 04/17/2016

Description

60 units consisting of 48 two bedroom and 12 three bedrooms. Concrete block construction. Buildings have new roofs but need complete renovations regarding plumbing,electrical and hvac.
INCREDIBLE INVESTMENT FOR SOMEONE LOOKING FOR GREAT RETURN ON INVESTMENT AFTER REHAB!
ONLY $4200 PER UNIT!!!!!!!!!!!!!!!!! YES, YOU READ THIS CORRECTLY!!!!!!! CASH SALE AND IT WON'T LAST LONG!!!!!!!! $20,000 EARNEST MONEY NEEDED WHICH GOES HARD IN 30 DAYS! CLOSING TO BE WITHIN 60 DAYS!
Rents are proforma with conservative rents of $550 per month on the 48 2 bedroom units and conservatively $700 per month on the 3 bedroom units.
Great section 8 demand for this area which is on the outskirts of the downtown area.

In historic Montgomery Alabama home to the ONLY Hyundai car manufacturing plant in the United States. Hyundai just announced record sales and production from this plant. Also, Montgomery is the state capitol. This location is right next to downtown Montgomery where incredible renovations have been going on.Montgomery is also the state Capitol and home to Maxwell air force base.

Highlights

  • rents are proforma and conservatively calculated at $550 per month for 48 two bedroom units and
  • $700 per month for 12 three bedroom units making a gross annual income of
  • $417,600! Incredible ROI. Cap rate is shown at 30 because that is as high as I am
  • allowed to post. It is actually much higher probably in the 40 to 50 range!
  • TOTAL PROPERTY TAXES ARE ONLY $1200 TOTAL ANNUAL! About $2 per month per
  • apartment! Unheard of!

Research

534 rosa parks, Montgomery, AL 36108 (Montgomery County)

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