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826 1st St W 24 Unit Apartment Building $1,290,000 ($53,750/Unit) 3.09% Cap Rate Birmingham, AL 35204
Investment Highlights
- Value Add property
- exterior renovated in 2022
- 16 units need rehab
Executive Summary
Great Value Add Opportunity with 16 vacant.
24-unit Property with 3 buildings.
All main level units. 12 units 1 bed/1 bath / 12 units 2 bed/1 bath
Current monthly income is $4,540.00.
24-unit Property with 3 buildings.
All main level units. 12 units 1 bed/1 bath / 12 units 2 bed/1 bath
Current monthly income is $4,540.00.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,290,000 | Apartment Style | Low-Rise |
| Price Per Unit | $53,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.92 AC |
| Cap Rate | 3.09% | Building Size | 17,880 SF |
| Sale Condition | High Vacancy Property | Average Occupancy | 29% |
| No. Units | 24 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1957/2022 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R5 - N SMITHFIELD-B 51 22-34-1 BK 46 PG 100 BLK 51 LOT 1-A | ||
| Price | $1,290,000 |
| Price Per Unit | $53,750 |
| Sale Type | Investment |
| Cap Rate | 3.09% |
| Sale Condition | High Vacancy Property |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.92 AC |
| Building Size | 17,880 SF |
| Average Occupancy | 29% |
| No. Stories | 1 |
| Year Built/Renovated | 1957/2022 |
| Opportunity Zone |
Yes |
| Zoning | R5 - N SMITHFIELD-B 51 22-34-1 BK 46 PG 100 BLK 51 LOT 1-A |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Eat-in Kitchen
- Kitchen
- Carpet
- Family Room
- Vinyl Flooring
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 690 |
| 2+1 | 12 | - | 800 |
1 1
Property Taxes
| Parcel Number | 22-00-34-1-030-001.000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $259,980 |
Property Taxes
Parcel Number
22-00-34-1-030-001.000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$259,980
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826 1st St W
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