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914 14th St SW 18 Unit Apartment Building $1,800,000 ($100,000/Unit) 6.70% Cap Rate Birmingham, AL 35211
EXECUTIVE SUMMARY
LAH Commercial Real Estate is pleased to present this 18 unit value add Multifamily property located in Birmingham, AL just 11 minutes from the CBD. The property includes 14 two-bedroom, one-bathroom units with washer/dryer connections, along with 4 one-bedroom, one-bathroom units with washer/dryer connections. Sixteen of the eighteen units have been fully renovated and leased, while the remaining two units (one 2BR/1BA and one 1BR/1BA) are currently undergoing renovations. Both buildings feature metal roofs that were replaced within the last three years, and all HVAC units were newly installed in 2022, with the 2 rehabbed units having new HVAC units upon completion. Rents are well under market thus providing a new investor/owner with the opportunity for rental bumps upon acquisition. Call Broker for more details regarding the property, i.e. financials and additional information.
PROPERTY FACTS
| Price | $1,800,000 | Apartment Style | Low-Rise |
| Price Per Unit | $100,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.28 AC |
| Cap Rate | 6.70% | Building Size | 22,572 SF |
| No. Units | 18 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1965/2022 |
| Zoning | R5 | ||
| Price | $1,800,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| Cap Rate | 6.70% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.28 AC |
| Building Size | 22,572 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2022 |
| Zoning | R5 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Kitchen
- Tub/Shower
- Carpet
- Den
- Double Pane Windows
- Vinyl Flooring
SITE AMENITIES
- Courtyard
- Grill
- Lounge
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 585 |
| 2+1 | 14 | - | 810 |
PROPERTY TAXES
| Parcel Number | 29-00-09-1-010-010.000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $21,320 |
PROPERTY TAXES
Parcel Number
29-00-09-1-010-010.000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$21,320
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914 14th St SW
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