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- LoopNet Team
203 Lanier Rd
Madison, AL 35758
Autumn Oaks Apartments and Land · Land For Sale
·
5.50 AC
INVESTMENT HIGHLIGHTS
- Zoned Multifamily with Incentive District benefits
- Improved with 17 existing apartment units - provides immediate cash flow
- Coveted Madison City Schools & walkable to Middle School
- Within historic downtown Madison - very walkable
- Located in nexus of Huntsville's major employment nodes
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 5.50 AC |
| Property Subtype | Residential | No. Stories | 1 |
| Proposed Use | Multifamily | ||
| Zoning | R-4, Multifamily District - Multi-family zoning and in the Downtown Redevelopment Incentive Overlay District which relaxes height, parking and other requirements. | ||
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 5.50 AC |
| No. Stories | 1 |
| Zoning | R-4, Multifamily District - Multi-family zoning and in the Downtown Redevelopment Incentive Overlay District which relaxes height, parking and other requirements. |
DESCRIPTION
Unique "covered land play" opportunity featuring 5.5 acres total, where 2.3 platted acres are improved with 17 existing one-story apartments in good condition that rent for $1,100/month, plus 3.2 acres of adjoining vacant land under same ownership. All 5.5 acres must be sold together. Site represents the largest contiguous available site in downtown Madison, and one of the last remaining zoned multifamily development sites in Madison. Site would be ideal for: 1) 140+ unit multifamily redevelopment (3-4 story, surface-park apartments) including Active Adult apartments; 2) "for sale" townhome or condo product; 3) enhance existing units and add additional units to vacant land; or 4) adaptive reuse to mixed-use or commercial (would require rezoning). Rent roll and financials available.
