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 Amenities: 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

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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

Contact

Photograph of Listing Agent

Renee Cheval Beasley

HERRINGTON REALTY INC Gulf Coast CMLS Member
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