Patio Homes/ Baldwin county located in Foley
Multi-Family
for Sale
| Catylist Listing ID: |
30716830 |
| Property Subtypes: |
Low-Rise/Garden, Senior Living
|
| Number of Units: |
12 Units |
| Building Size (RSF): |
7,400 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
1.50 Acres
|
| Sale Price: |
$850,000 |
| Unit Price: |
$70,833.33 Per Unit |
| In Opportunity Zone? |
Yes |
| Property Use Type: |
Investment, Business |
| Building Name: |
Four seasons Apartments |
| Sale Terms: |
Cash to Seller, Owner Financing |
| Cap Rate: |
0.07% |
| Average Occupancy Rate: |
100 |
| Last Updated: |
4/6/2021 |
Overview / Comments
|
(Four Seasons Apartments) Lots of room to grow. Enough property to add more Patio homes. Great location! Right behind the Foley (south Baldwin Hospital) close to everything. Great work force location for the theme park OWA> local rents rates would allow at least a 20% increase in rent rolls. This property consists of (12) one bed/one bath 564sq ft patio homes that currently rent for $475.00 per month. .. Common area and laundry room. City water/sewer/ gas to the laundry (bill runs around $419.00 per month this includes the dumpster).. GOI currently is $71,400.00 includes laundry room. Estimated NOI Assuming 10% management fee (owner managed) no insurance is $58,408.00. Always a waiting list for apartments to come available. Needs a little TLC. But a great investment with room to add another complex of homes. Contact Renee today.. 251-978-9500
|
Additional Details
| Nearest MSA: |
Daphne-Fairhope-Foley |
| County: |
Baldwin |
| Taxing Authority: |
foley |
| Tax ID/APN: |
05-54-04-20-1-000-019.000 |
| Zoning: |
R-2 |
| Percent Occupied: |
100% |
| Community Building, Recreation Room |
| Property Located Between: |
Foley |
| Highway Access: |
Hwy 59 Pine st Foley |
| Site Description: |
Income producing Multi-family patio apt homes |
| Area Description: |
Located right behinh the South Baldwin hospital |
| Total Number of Buildings: |
1 |
| Property Condition: |
Fair |
| Number of Stories: |
1 |
| Year Built: |
1990 |
| Construction/Siding: |
Brick |
| Parking Type: |
Surface |
| Parking Description: |
paved parking.. |
| Total Parking Spaces: |
15 |
| Laundry: |
Shared |
| Heat Type: |
Electricity, Natural Gas |
| Fuel: |
Electric |
| Zoning Description: |
Multifamily PO |
| Part of Planned Development?: |
Yes |
| Lot Frontage: |
253 |
| Lot Depth: |
250 |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
| Legal Description: |
54-04-20-1-000-019.000 PPIN 009190 1.5 acres |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
4,342 |
9,392 |
24,860 |
| Median Age: |
47.64 |
41.22 |
40.51 |
| Households: |
1,852 |
3,860 |
9,980 |
|
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