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Atmore Apartments 156 Patterson St 77 Unit Apartment Building $5,625,000 ($73,052/Unit) 10.93% Cap Rate Atmore, AL 36502
Investment Highlights
- Convenient location just off Highway 21 near retail, dining and major employers
- $1,500,000 in capital improvements over the past 36 months
- Washer and dryer connections in all units
- Minutes to WindCreek Casino
- Buildings are built of brick on a slab foundation with copper wir-ing and a mix of copper/PVC plumbing
- Metal roofs installed 2 years ago
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,625,000 | Apartment Style | Garden |
| Price Per Unit | $73,052 | Building Class | C |
| Sale Type | Investment | Lot Size | 6.86 AC |
| Cap Rate | 10.93% | Building Size | 45,834 SF |
| No. Units | 77 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1971 |
| Property Subtype | Apartment | Parking Ratio | 2.48/1,000 SF |
| Zoning | B-2 - General Business | ||
| Price | $5,625,000 |
| Price Per Unit | $73,052 |
| Sale Type | Investment |
| Cap Rate | 10.93% |
| No. Units | 77 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 6.86 AC |
| Building Size | 45,834 SF |
| No. Stories | 1 |
| Year Built | 1971 |
| Parking Ratio | 2.48/1,000 SF |
| Zoning | B-2 - General Business |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Breakfast Nook
- Built-In Bookshelves
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 31 | $875.00 | 692 |
| 3+1 | 17 | $925.00 | 912 |
| 4+1 | 6 | $1,300 | 1,131 |
| 1+1 | 23 | $700.00 | 654 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $245,300 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$245,300
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Atmore Apartments | 156 Patterson St
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