$595,000 Price Analysis    ♡   Montgomery, AL 36104 Unknown bed None bath unknown SqFt ($0/SqFt) Listed 2022-09-12, Taxes $98 | Ⓧ USDA Ineligible due to location near Montgomery |
This 16-unit concrete block apartment complex is a total rehab but has the potential to bring in $950 per unit after the apartments are fixed up.
The current owner has started the renovation by installing a bra nd new architectural shingled roof, replacing all the rotten fascia and has had the exterior freshly painted. The after repaired value of the complex is estimated to be approximately $1.1 million. Pro-forma rents are $182, 400 per year at $950/month. Rents could even be higher if used as student housing. The same owner also has another 16-unit property close by at 613 Watts Avenue which is also on the market at a price of $559900. If both complexes are purchased the seller will offer a slight discount. The complex would be a perfect student housing complex as it is located within walking distance to a 4-year University.
The complex is also located within minutes of the many historical attractions in Montgomery including the nationally acclaimed Equal Justice and Freedom Museum and Monument and the $90 million white water adventure park. Montgomery was named the #1 historical city in the United States by USA Today in 2014 and was listed on the NY Times list of 50 places you must visit before you die. Come experience the southern hospitality of Montgomery and attractive investment opportunities as Alabama has the lowest property taxes in the continental U.S. As an extra tax incentive the complex is in an opportunity zone. The city of Montgomry is home to the Hyundai car manufacturing plant in the U.S., as well as having two Air Force bases, the renowned Legacy Museum, one of the largest Shakespeare Festivals and is the State Capital. Montgomery continues to add more cultural, educational and entertainment venues every year. Come invest in the City of Dreams today!
Presented by DAVID HERMAN at
David Herman Realty.
Property MLS #525545 from Montgomery
Flooring: Concrete
Tenant Pays: AllUtilities
Number of Units: 16
Source Listing Status: Active
County: Montgomery
Directions: From 85 South take Exit 3 onto Ann Street then left onto Highland Avenue then right onto Cedar
Source Property Type: ResidentialIncome
Area: MONT-Central Montgomery/ Cloverdale/ASU
MLS Area Minor: Montgomery Area Association of Realtors
Source Neighborhood: MONT-Central Montgomery/ Cloverdale/ASU
Owner Pays: GroundsCare, Insurance, Taxes
Parcel Number: 03-10-04-17-02-005-012.000
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $unknown + $unknown $2,700 | $98 |
| 2021 | $unknown + $unknown $2,700 | $98 |
| 2012 | $unknown + $unknown $12,680 | $462 |
| 2011 | $unknown + $unknown $12,680 | $462 |
| 2010 | $unknown + $unknown $12,680 | $462 |
$595,000
Montgomery
Listing removed 2021-11-01
$0
Montgomery
Listed 2021-10-29
$400,000
Montgomery
Listing removed 2013-05-04
$599,000
Montgomery
Listed 2012-05-03
$599,000
Montgomery
Listing removed 2011-10-13
$695,000
Montgomery
Listed 2011-03-24
$695,000
Montgomery
Listing removed 2011-03-14
$750,000
Montgomery
Listed 2010-03-15
$750,000
Montgomery
Listing removed 2010-01-20
$699,900
Montgomery
Listed 2009-02-21
$699,900
Montgomery
Sold 2006-12-26
$78,000
Public Record
CableAvailable
Water Source: Public
Foundation Details: Slab
Levels: Two, MultiSplit
Levels or Stories: 2
Architectural Style: TwoStory, SplitLevel
Map directions Map directions Map directions Map directionsThe property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.