400 Arkadelphia Rd
Hanceville, AL 35077
Mulberry Place Apartments · Multifamily Property For Sale
·
41 Units
Property Facts
| No. Units | 41 | Building Size | 29,280 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1970 |
| Building Class | C | Parking Ratio | 2.86/1,000 SF |
| Lot Size | 4.35 AC |
| No. Units | 41 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.35 AC |
| Building Size | 29,280 SF |
| Average Occupancy | 95% |
| No. Stories | 1 |
| Year Built | 1970 |
| Parking Ratio | 2.86/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Carpet
- Lawn
Site Amenities
- 24 Hour Access
- Property Manager on Site
- Tenant Controlled HVAC
- Grill
- Maintenance on site
- Walk-Up
- Smoke Detector
About 400 ARKADELPHIA RD , HANCEVILLE, AL 35077
Value Add Property. 40 Units in an area with very little competition, limited supply and good demand. The owner is absentee and been operating the property for a tax write-off, at a loss, for a number of years. It is now time to sell. The numbers I am presenting are pro-forma as there are around 12 of the 40 units rented at this time. The property can be turned around very quickly under several different scenarios. The list price is a suggested minimum offer. Cash offers are greatly favored. This is a value add deal but there is a great opportunity for a quick turnaround. There is likely sufficient site area to add additional units (subject to purchasers due diligence). The property is located minutes off US Interstate 65 less than an hour's drive north of Birmingham and an hour south of Huntsville. There are around 6,000 students in the College located less than one mile from the property.
Property Taxes
| Parcel Number | 23-04-20-0-004-021.000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $311,280 |
Property Taxes
