20 Unit Apartment | 2810 Fairwest St
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20 Unit Apartment 2810 Fairwest St
20 Unit Block of Flats £513,506 (£25,675/Unit) Montgomery, AL 36108
Investment Highlights
- In close proximity to a medical center
Executive Summary
UNBELIEVABLE!!!! Cash Sale! Are you a seasoned or new investor looking for an investment property in a hot market? Take a look at this 20-unit multi-family listing in a growing area just reduced from original price of $1.5 million for a quick sale!
Each unit is equipped with a stove, refrigerator and a window heating and cooling unit. 17 of the 20 units have been updated with only 3 remaining to renovate, and the parking lot has 20 parking places. The property has security lights and cameras outside. This property is a prime investment and when fully leased at pro-forma rents could generate over $253,000 per year and will be worth approximately $1.5 million. This includes taking the 2 storage units and converting them into efficiency apartments.
There are (12) 2-bedroom units that can be leased for up to $1050 per month and (8) 1-bedroom units that can be leased for up to $875 per month. In addition the two future efficiency apartments will bring in $750 per month.
The property is only one mile from a new charter school that should increase the value of the real estate in this area. It is also close to a public library, a large public high school, a new elementary school and medical center.
Montgomery, Al. was named the #1 historical city by USA Today in 2014 and is home to the only Hyundai car manufacturing plant in the U.S. Montgomery had close to one million people visit the National Memorial for Peace and Justice Museum and the companion Legacy Museum since its opening in 2018. Come invest in Montgomery Alabama, the City of Dreams.
Each unit is equipped with a stove, refrigerator and a window heating and cooling unit. 17 of the 20 units have been updated with only 3 remaining to renovate, and the parking lot has 20 parking places. The property has security lights and cameras outside. This property is a prime investment and when fully leased at pro-forma rents could generate over $253,000 per year and will be worth approximately $1.5 million. This includes taking the 2 storage units and converting them into efficiency apartments.
There are (12) 2-bedroom units that can be leased for up to $1050 per month and (8) 1-bedroom units that can be leased for up to $875 per month. In addition the two future efficiency apartments will bring in $750 per month.
The property is only one mile from a new charter school that should increase the value of the real estate in this area. It is also close to a public library, a large public high school, a new elementary school and medical center.
Montgomery, Al. was named the #1 historical city by USA Today in 2014 and is home to the only Hyundai car manufacturing plant in the U.S. Montgomery had close to one million people visit the National Memorial for Peace and Justice Museum and the companion Legacy Museum since its opening in 2018. Come invest in Montgomery Alabama, the City of Dreams.
Property Facts
| Price | £513,506 | Building Class | C |
| Price Per Unit | £25,675 | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 11,948 SF |
| No. Units | 20 | Average Occupancy | 50% |
| Property Type | Residential | Number of Floors | 2 |
| Property Subtype | Apartment | Year Built | 1960 |
| Apartment Style | Low Rise | Parking Ratio | 1.67/1,000 SF |
| Price | £513,506 |
| Price Per Unit | £25,675 |
| Sale Type | Investment |
| No. Units | 20 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 11,948 SF |
| Average Occupancy | 50% |
| Number of Floors | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.67/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Vinyl Flooring
Site Amenities
- Fenced Lot
- Security System
- Rubbish Collection - Kerbside
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 12 | - | - |
PROPERTY TAXES
| Parcel Number | 11-06-23-3-002-007.000 | Improvements Assessment | £76,975 |
| Land Assessment | £2,477 | Total Assessment | £79,452 |
PROPERTY TAXES
Parcel Number
11-06-23-3-002-007.000
Land Assessment
£2,477
Improvements Assessment
£76,975
Total Assessment
£79,452
zoning
| Zoning Code | None (No zoning restrictions) |
| None (No zoning restrictions) |
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David Herman -
David Herman Realty
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20 Unit Apartment | 2810 Fairwest St
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