Monroeville College Park Apartments

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30864020
Property Subtypes: Low-Rise/Garden, Student Housing
Status: Pending/Contingent
Number of Units: 46 Units
Building Size (RSF): 38,316 SF
Gross Land Area: 8.10 Acres
Sale Price: $1,300,000
Unit Price: $28,260.87 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment
Building Name: College Park
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 73
Last Updated: 1/26/2024

Overview / Comments

Southeast Commercial is pleased to offer this investment opportunity to own a 46 unit multi-family apartment located in an opportunity zone in Monroeville, Alabama. College Park contains 21 -One Bedroom units, 15 - Two Bedroom units, 8- Three Bedroom units, and 2 - Four Bedroom units. The complex is 73% occupied with a monthly gross income of $16,100. The complex is mostly leased as student housing to Coastal Community College students. Please do not disturb tenants. Contact the listing agent for more information.

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Financials

Finance Data Year 2023
Real Estate Taxes - Annual($) $14,818 (Annual)
Tax Value Land $86,670
Tax Value Improvements $1,792,950
Assessed Value - Total($) $1,879,620 (Annual)

Additional Details

Nearest MSA: Mobile
County: Monroe
Submarket Type: Other
Taxing Authority: Monroe County
Tax ID/APN: 2107364000008000
Zoning: R-4
Percent Occupied: 73%
Total Number of Buildings: 23
Number of Stories: 1
Year Built: 1975
Roof Type: Gable
Construction/Siding: Brick
Parking Type: Surface
Laundry: In Each Unit
Heat Source: Central
Zoning Description: R-4
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 682 6,191 8,872
Median Age: 39.1 40.07 40.52
Households: 290 2,498 3,597

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