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705 Knoxville St 8 Unit Apartment Building $540,000 ($67,500/Unit) Birmingham, AL 35224
Executive Summary
LAH Commercial Real Estate is pleased to present this 8 unit value add Multifamily property located in Birmingham, AL just 14 minutes from the CBD.
All units are 710 SF, 2 Bedroom 1 Bathroom, with W/D connections; all 8 units have been fully rehabbed with brand new finishes and the property boasts a 100% occupancy. Value add lies within the current rents are under market.
3 units are on Section 8 and 5 units are market renters, thus showing a diverse tenant base.
Property is priced at a very attractive CAP Rate on actuals, i.e. priced to sell.
Current owners have replaced the roof and 2 HVAC units, all of which are central heat and air with the remaining units being in good, usable condition (about 5-7 years old each).
This property has had only 2 owners in the last 24 years, thus showing sustainability and strong rental demand.
Call Broker for more details regarding the property, i.e. financials and additional information.
All units are 710 SF, 2 Bedroom 1 Bathroom, with W/D connections; all 8 units have been fully rehabbed with brand new finishes and the property boasts a 100% occupancy. Value add lies within the current rents are under market.
3 units are on Section 8 and 5 units are market renters, thus showing a diverse tenant base.
Property is priced at a very attractive CAP Rate on actuals, i.e. priced to sell.
Current owners have replaced the roof and 2 HVAC units, all of which are central heat and air with the remaining units being in good, usable condition (about 5-7 years old each).
This property has had only 2 owners in the last 24 years, thus showing sustainability and strong rental demand.
Call Broker for more details regarding the property, i.e. financials and additional information.
Property Facts
| Price | $540,000 | Building Class | C |
| Price Per Unit | $67,500 | Lot Size | 0.40 AC |
| Sale Type | Investment | Building Size | 5,668 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 1.76/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R5 | ||
| Price | $540,000 |
| Price Per Unit | $67,500 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 5,668 SF |
| No. Stories | 2 |
| Year Built | 1978 |
| Parking Ratio | 1.76/1,000 SF |
| Zoning | R5 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Recycling
- Smoke Free
- Walking/Biking Trails
- Private Bathroom
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 8 | - | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 30-00-02-1-021-006.000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $64,440 |
Property Taxes
Parcel Number
30-00-02-1-021-006.000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$64,440
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705 Knoxville St
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