12360 Homestead Ave | Grand Bay, AL 36541
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- LoopNet Team
12360 Homestead Ave
Grand Bay, AL 36541
Homestead Apartments · Multifamily Property For Sale
·
34 Units
INVESTMENT HIGHLIGHTS
- Property is conveniently located near major retailers including Walgreens, Dollar General, and Family Dollar
- One unit is currently used a property management office, but can be converted into a one bedroom unit without any further construction
- Units are individually metered for electric. Tenants are charged a utility bill-back of $40-$50 for water each month
- Real estate is comprised of 9 apartment buildings (7 triplexes, 1 quadplex, and 1 fiveplex) and 3 single-family homes (4 units)
- Over $80,000 has been invested into capital improvements including new roofs, window units, and hardware/appliances
- The property is situated just off major highway US-90 with quick access to downtown Mobile, AL (25 miles) and Pascagoula, MS (15 miles)
PROPERTY FACTS
| No. Units | 34 | Building Size | 19,068 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1960 |
| Building Class | C | Parking Ratio | 3.15/1,000 SF |
| Lot Size | 3.56 AC | ||
| Zoning | R | ||
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.56 AC |
| Building Size | 19,068 SF |
| Average Occupancy | 95% |
| No. Stories | 1 |
| Year Built | 1960 |
| Parking Ratio | 3.15/1,000 SF |
| Zoning | R |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 32 | $572.50 | 500 - 800 |
| 2+1 | 1 | $550.00 | 1,075 |
| 3+2 | 1 | $1,100 | 1,693 |
PROPERTY TAXES
| Parcel Number | 36-07-36-3-000-044 | Improvements Assessment | $285,040 |
| Land Assessment | $14,360 | Total Assessment | $299,400 |
PROPERTY TAXES
Parcel Number
36-07-36-3-000-044
Land Assessment
$14,360
Improvements Assessment
$285,040
Total Assessment
$299,400
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