Apartments Across from University of South Alabama

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30659576
Property Subtypes: Mid-Rise
Status: Pending/Contingent
Number of Units: 20 Units
Building Size (RSF): 14,088 SF
Sale Price: $2,800,000
Unit Price: $140,000 Per Unit
Property Use Type: Investment
Building Name: Belmont Apartments
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 80
Last Updated: 10/11/2021

Overview / Comments

Perfect investment opportunity. Recently remodeled (finished in March 2020) and open for occupancy. One building with 12-1 bedroom 1 bath apartments and One building with 2-bedrooms 1 bath apartments. All new flooring fixtures, vinyl windows, stainless steel appliances and bath fixtures. This listing includes Belmont apartments 5809 and 5811 Old Shell Road and the adjacent vacant undeveloped commercial land.
28-05-21-1-000-063. 28-05-21-1-000-064. and 28-05-21-1-000-062.

Additional Details

Nearest MSA: Mobile
County: Mobile
Taxing Authority: Mobile
Tax ID/APN: R022805211000063. and R028-05-21-1-000-062 and 28-05-21-1-000-064.
Zoning: R-3
Percent Occupied: 75%
Property Located Between: University Blvd and East Road
Site Description: Across the street from the University of South Alabama. Corner of Long and University Blvd.
Area Description: Restaurants, close to all shopping, USA campus
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 2
Year Renovated: 2020
Roof Type: Hip
Construction/Siding: Block, Brick
Exterior Description: Shingle roof was replaced with metal...2020
Parking Type: Surface
Parking Description: Parking is unassigned and uncovered
Total Parking Spaces: 27
Laundry: Shared
Sprinklers: None
Heat Type: Electricity
Heat Source: Central
Air Conditioning: Package Unit
Interior Description: All units have fresh paint, flooring replaced throughout, new stainless steel appliances, new lighting fixtures, new tub surrounds and bath fixtures.
Zoning Description: Apartment Site
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Owned
Legal Description: 28-05-21-1-000-063. 28-05-21-1-000-064. and 28-05-21-1-000-062.

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,999 80,542 168,078
Median Age: 32.55 35.43 36.51
Households: 2,793 33,830 67,808


Photograph of Listing Agent

Donna Gardner

RE/MAX Realty Professionals Gulf Coast CMLS Member
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