12 unit Apmt Complex for sale!

Multi-Family for Sale
Sale Pending
Catylist Listing ID: 30704144
Property Subtypes: Duplex/Fourplex
Status: Pending
Number of Units: 12 Units
Building Size (RSF): 10,800 SF
Gross Building Area: See Agent
Sale Price: $900,000
Unit Price: $75,000 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Average Occupancy Rate: 100
Last Updated: 2/12/2021

Overview / Comments

AMAZING investment opportunity 1.5 miles from South Alabama’s campus!! 100% occupancy! Three buildings with a total of 12 units. Each unit rents for $640/month. All 2 bedrooms, 1 bath, 900sq ft each. Each unit comes with a refrigerator, stove, dishwasher, garbage disposal, washer/dryer connections, and an outside storage unit. 11 central AC units replaced with Rheen units in Feb 2016 and 1 in May 2015. Parking lot was repaved in 2019. 2020 generated almost $60,000 NOI! Owner pays for water and trash. Roof is a flat roof 10-12 years old. Addresses of each building are 5751 Overlook Rd. (Tax ID 1810188), 5755 Overlook Rd. (Tax ID 454877), and 1459 Morlee Dr. W (Tax ID 454868). Tenants require 48 hour’s notice for showings. Buyer to verify all measurements and important info

Additional Details

Nearest MSA: Mobile
County: Mobile
Tax ID/APN: R022802091001003.001.
Percent Occupied: 100%
Area Description: 1.5 miles from University of South Alabama's campus
Total Number of Buildings: 3
Number of Stories: 2
Year Built: 1978
Roof Type: Flat
Construction/Siding: Brick
Parking Type: Surface
Parking Description: Open lot, repaved in 2019
Laundry: In Each Unit
Heat Type: Electricity
Heat Source: Central
Fuel: Electric
Interior Description: Wall to wall carpet, comes with stove, refrigerator, dishwasher, garbage disposal, washer/dryer connections, ext storage unit for each tenant
Water Service: Municipal
Sewer Type: Municipal
Legal Description: METES AND BOUNDS: LOT B RESUBDIV OF LOTS 1-3 BLK C PARKVIEW ESTS PT 4 MBK 30 P 62 #SEC 09 T4S R2W #MP28 02 09 1 001

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,113 51,713 152,988
Median Age: 40.42 35.27 35.98
Households: 2,328 20,051 61,725


Photograph of Listing Agent

Colleen Bowen

Roberts Brothers, Inc. Gulf Coast CMLS Member
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