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.


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

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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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