Price Reduced!! Monroeville Two Property Apartment Portfolio
Multi-Family
for Sale
| Catylist Listing ID: |
30856440 |
| Property Subtypes: |
Low-Rise/Garden
|
| Number of Units: |
34 Units |
| Building Size (RSF): |
32,760 SF |
| Gross Land Area: |
2.45 Acres
|
| Sale Price: |
$1,750,000 |
| Unit Price: |
$51,470.59 Per Unit |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
8.82% |
| Last Updated: |
11/29/2023 |
Overview / Comments
|
Price Improvement! Southeast Commercial is pleased to announce this investment opportunity to own 34 multi-family apartments located in Monroeville, Alabama. The property consists of two complexes situated within one mile of each other, West Claiborne Apartments (292 W Claiborne St.) and Madison Place (73 Madison St.). West Claiborne contains a total of sixteen 2 Bedroom/1 Bath units, a laundry building and small onsite office. Madison Place contains fourteen 2 Bedroom/1 Bath units, two 2 Bedroom/2.5 Bath units, and recently converted the former office/conference building into two additional non-typical large rental units. Value added potential with a current monthly gross income of $18,925 with a potential for $21,348 a month. Please do not disturb tenants. Contact the listing agent for more information. Financials available upon request.
|
Financials
| Finance Data Year |
2023 |
| Real Estate Taxes - Annual($) |
$6,804 (Annual) |
| Tax Value Improvements |
$1,416,560 |
| Assessed Value - Total($) |
$1,464,920 (Annual) |
| Potential Rental Income |
$256,170 (Annual) |
| Actual or Proforma Year |
Proforma |
Additional Details
| Nearest MSA: |
Atmore |
| County: |
Monroe |
| Taxing Authority: |
Monroe County |
| Tax ID/APN: |
51-21-07-35-4-001-022.001, 51-26-01-01-3-002.000 |
| Zoning: |
R-3 AND R-4 |
| Total Number of Buildings: |
10 |
| Property Condition: |
Average |
| Number of Stories: |
2 |
| Parking Type: |
Surface |
| Air Conditioning: |
Package Unit |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
682 |
6,191 |
9,763 |
| Median Age: |
39.1 |
40.07 |
40.58 |
| Households: |
290 |
2,498 |
3,957 |
|
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|
