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Woodlawn Vintage BFR 2100 N Woodlawn Dr 32 Unit Apartment Building $4,200,000 ($131,250/Unit) 7.90% Cap Rate Mobile, AL 36605
INVESTMENT HIGHLIGHTS
- 32 renovated units with strong rent growth and agency debt potential.
- 7.9% cap rate supported by population growth and market rents.
- Prime location near Costco, Top Golf, and I-65 Corridor.
EXECUTIVE SUMMARY
This property includes 32 units, 31 of which that have been renovated and brought up to today’s standards. This group of contiguous homes allows a buyer to purchase a property that has upside, which is shown by the higher-than-average rents already being collected, and a stable asset that is well on its way to qualify for agency debt.
The area surrounding the property already shows population growth in the coming years, which should improve with the plans to bring the Mobile Airport Downtown.
This property is less than 2 miles from Costco, the all-new Dave and Busters, Top Golf, and the entire I-65 Corridor, where so much shopping and entertaining is done.
32 Units
$1,458.00 Average Rents
$1,600.00 already achieved Market Rents
28 4 bed 2 bath homes
4 5 bed 2 bath homes
1,500 square feet each
The area surrounding the property already shows population growth in the coming years, which should improve with the plans to bring the Mobile Airport Downtown.
This property is less than 2 miles from Costco, the all-new Dave and Busters, Top Golf, and the entire I-65 Corridor, where so much shopping and entertaining is done.
32 Units
$1,458.00 Average Rents
$1,600.00 already achieved Market Rents
28 4 bed 2 bath homes
4 5 bed 2 bath homes
1,500 square feet each
PROPERTY FACTS
| Price | $4,200,000 | Apartment Style | Garden |
| Price Per Unit | $131,250 | Building Class | B |
| Sale Type | Investment | Lot Size | 15.00 AC |
| Cap Rate | 7.90% | Building Size | 136,800 SF |
| No. Units | 32 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1950/2018 |
| Property Subtype | Apartment | Parking Ratio | 4.4/1,000 SF |
| Zoning | None | ||
| Price | $4,200,000 |
| Price Per Unit | $131,250 |
| Sale Type | Investment |
| Cap Rate | 7.90% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 15.00 AC |
| Building Size | 136,800 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1950/2018 |
| Parking Ratio | 4.4/1,000 SF |
| Zoning | None |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Vinyl Flooring
SITE AMENITIES
- Laundry Facilities
- Playground
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+2 | 28 | $1,500 | 1,500 |
| 5+2 | 4 | $1,600 | 1,500 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $205,300 | |
| Land Assessment | $33,760 | Total Assessment | $239,060 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$33,760
Improvements Assessment
$205,300
Total Assessment
$239,060
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Woodlawn Vintage BFR | 2100 N Woodlawn Dr
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