3034-3044 Fairwest Pl 24 Unit Apartment Building $480,000 ($20,000/Unit) Montgomery, AL 36108

3034-3044 Fairwest Place provides qualified investors and developers with the exceptional opportunity to acquire a blank canvas multifamily community near Maxwell Air Force Base in Montgomery, Alabama. A new owner has the incredible chance to reinvent/revitalize the property and generate strong cash-flow. The property has great investment potential once extensive renovations are made.

This 24-unit apartment complex is built out of sturdy, concrete block construction, and each unit has two bedrooms and one bath. The property has great investment potential once extensive renovations are made. It is a prime investment and when fully leased at pro-forma rents for Section 8 tenants, it can bring in almost $300K per year, with projected rental rates of $1,000/unit, which should make the value of the property approximately $1.7M. All the units are currently vacant, and the community will require renovation. The buildings feature sturdy, concrete block construction and central heating and cooling.

3034-3044 Fairwest Place is located near Interstate 65 and across the street from the Public Health department and near three quality public schools in beautiful Montgomery. In 2014, Montgomery, Alabama was named by USA Today as the #1 historical city in the United States. The city is also home to the only Hyundai car manufacturing plant in the U.S. Montgomery had close to 1 million people visit the National Memorial for Peace and Justice Museum and the companion Legacy Museum. In 2024, Montgomery, Alabama landed on the top 25 best places to visit in the South from the Southern Living magazine.

Come invest in Montgomery, Alabama. Act quickly to get more details on the 24-unit apartment complex and/or to schedule a showing.