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255 Overland Rd
Montevallo, AL 35115
Falcon Manor Apartments · Multifamily Property For Sale
·
20 Units
PROPERTY FACTS
| No. Units | 20 | Building Size | 14,008 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1971 |
| Building Class | C | Parking Ratio | 2.24/1,000 SF |
| Lot Size | 1.03 AC | ||
| Zoning | R-2 - Residential | ||
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.03 AC |
| Building Size | 14,008 SF |
| Average Occupancy | 95% |
| No. Stories | 1 |
| Year Built | 1971 |
| Parking Ratio | 2.24/1,000 SF |
| Zoning | R-2 - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Walk-In Closets
SITE AMENITIES
- 24 Hour Access
ABOUT 255 OVERLAND RD , MONTEVALLO, AL 35115
PROPERTY OPPORTUNITY Located in Montevallo, the quiet sister city of Birmingham, the Falcon Manor Apartments are a well maintained and cash flowing property. It is walking distance to the local university giving it the ideal place for a multifamily property in town. The building is currently 100% occupied with a strong occupancy history and rents currently below market. There is nearly 10% upside by pushing rents to the market rate for these larger 1BR/1BA units. This property has been well taken care of and a new investor could count on cash flowing day one with little to no maintenance required on the property.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | $510.00 | 720 - 850 |
PROPERTY TAXES
| Parcel Number | 27-5-21-1-003-016-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $222,720 |
PROPERTY TAXES
