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221 County Road 3320 - 221 County Road 3320 16 Unit Apartment Building Offered at $830,000 at a 8% Cap Rate Brundidge, AL 36010
Investment Highlights
- Situated in the fast growing Pike County, Alabama
- Property is being offered at an attractive CAP Rate
- Value-Add Multifamily Opportunity
Executive Summary
LAH Commercial Real Estate is pleased to present this 16-unit value add multifamily opportunity, situated in the fast growing Pike County, Alabama, and is located just 16 minutes from the campus of Troy University.
This property consists of four 3BR/1BA units and twelve 2BR/1BA units, with an on-site coin operated laundry facility in place.
13 of the 16 units have been rehabbed and rented, leaving 3 units in need of moderate rehab, thus providing a value-add opportunity for a new prospective investor; current rents are also slightly under market leaving meat on the bone in that value-add regard.
Property operates on a thoroughly maintained well and septic system.
All utilities are separately metered, and all units have central heat and air.
The surrounding area is ± 2 miles from the Walmart Distribution Center and the Southern Classic Food Center as well as less than 20 minutes from all major employers in Troy, AL.
Property is being offered at an attractive CAP Rate; call Broker for additional details.
This property consists of four 3BR/1BA units and twelve 2BR/1BA units, with an on-site coin operated laundry facility in place.
13 of the 16 units have been rehabbed and rented, leaving 3 units in need of moderate rehab, thus providing a value-add opportunity for a new prospective investor; current rents are also slightly under market leaving meat on the bone in that value-add regard.
Property operates on a thoroughly maintained well and septic system.
All utilities are separately metered, and all units have central heat and air.
The surrounding area is ± 2 miles from the Walmart Distribution Center and the Southern Classic Food Center as well as less than 20 minutes from all major employers in Troy, AL.
Property is being offered at an attractive CAP Rate; call Broker for additional details.
Property Facts
| Price | $830,000 | Property Type | |
| Price Per Unit | $51,875 | Building Size | 6,800 SF |
| Sale Type | Investment | Average Occupancy | 81% |
| Cap Rate | 8% | No. Stories | 2 |
| No. Units | 16 | Year Built | 2002 |
| Price | $830,000 |
| Price Per Unit | $51,875 |
| Sale Type | Investment |
| Cap Rate | 8% |
| No. Units | 16 |
| Property Type | |
| Building Size | 6,800 SF |
| Average Occupancy | 81% |
| No. Stories | 2 |
| Year Built | 2002 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 4 | - | - |
| 2+1 | 12 | - | - |
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Property Taxes
| Parcel Number | 2302-1000000-160010 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,600 |
Property Taxes
Parcel Number
2302-1000000-160010
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,600
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221 County Road 3320 - 221 County Road 3320
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