Investment Opportunity- Three Homes on ONE lot

Multi-Family for Sale
Catylist Listing ID: 30721318
Property Subtypes: Mixed Use, Other
Number of Units: 3 Units
Building Size (RSF): 2,500 SF
Sale Price: $398,900
Unit Price: $132,966.67 Per Unit
Property Use Type: Investment
Sale Terms: Other
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 4/5/2021

Overview / Comments

INVESTMENT OPPORTUNITY! THREE HOUSES ON ONE LOT! Grossing $2750 per month / $33,000 annually. TheLot is approximately .74 of an acre with natural shade from mature Live Oaks on the property. Each house has 2 bedrooms, 1 bathroom,living room, kitchen and utility sheds plumbed for washer and dryers. House “C” Rents for $925 per month (768 sq ft. is the original house,built in 1985). House “B” was moved onto the property in 1985 and has approx. 868 sq ft and is on septic. This home also rents for $925 amonth. House “A” was built in 2004 and has approx. 864 sq ft. This home is on sewer and rents for $900 / month. All have city water,central heat and air and separate meters. The houses have been renovated over the past couple of years and rent very easily. Great forinvestment or live in one and the rent from the other 2 pay all your costs. All are rented on 12 month leases. Same renters for the pastcouple of years. There is plenty of parking space on the lot as well enough to store either RV or boats. Dollar General, Chevron, ButcherBlock and Coffee Shop are a stone throw away! A couple of minutes from Little Lagoon Boat Launch and public beach in Fort Morgan.

Additional Details

Nearest MSA: Daphne-Fairhope-Foley
County: Baldwin
Tax ID/APN: 05-67-05-15-4-001-023.000
Percent Occupied: 100%
Highway Access: Fort Morgan Road
Total Number of Buildings: 3
Exterior Description: Vinyl, Wood
Parking Type: Other
Laundry: In Each Unit
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Other
Lot Frontage: 150
Lot Depth: 217
Water Service: Municipal
Sewer Type: Municipal
Legal Description: 155' X 220' Com At The Se Cor Sec 15 Th W Alg Sec Line 923' To Pob, Th Cont W 155', Th Run N 220', Th E 152', Th S 200' To Pob Sec 15-T9s-R3e (Wd/Survivorship)

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Demographic Statistics

Proximity: 3 miles 5 miles
Total Population: 4,799 7,566
Median Age: 47.92 43.82
Households: 2,161 3,434


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