0 Schoel Lane - Apartments FOR SALE


Gulf Shores, AL 36542
$2,499,000 USD
850-492-1148
0 Schoel Lane, Gulf Shores, AL for Sale
$2,499,000 USD
Apartments - FOR SALE
1/41
null | 5.28% Cap Rate

0 Schoel Lane
Gulf Shores, AL 36542


OVERVIEW

Bon Secour Apartments offers an opportunity to acquire an established 18-unit multifamily community within the City of Gulf Shores, positioned in an area experiencing continued residential growth and infrastructure investment. Located on Schoel Lane just off County Road 6, the property includes approximately 15,336 rentable square feet, with each two-bedroom, one-bath unit offering approximately 852 square feet and washer/dryer connections. The community provides an attractive acquisition basis compared to the cost of developing comparable new multifamily housing, creating potential for both current rental income and long-term value. Its location places residents near Gulf Shores City Schools, the Gulf Shores Sportsplex, County Road 6 boat launch, shopping, dining, employment centers, recreational facilities and the beaches of Gulf Shores. The surrounding area continues to evolve with nearby residential development, including Bright's Creek, along with roadway, drainage, sidewalk and connectivity improvements. With established rental demand, maintained units and a location convenient to everyday necessities and Gulf Shores attractions, Bon Secour Apartments provides investors the opportunity to add an income-producing multifamily asset in one of Coastal Alabama's growing communities.

FOR SALE DETAILS

PRICE

$2,499,000 USD

PRICE/SF

$161 USD /SF

# OF UNITS

18

PRICE/UNIT

$138,833

CAP RATE

5.28%

% LEASED

84%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bon Secour Apartments - 0 Schoel Lane

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1988

PARKING SPACES

63

LAND DETAILS

LAND ACRES

2.25 AC

LAND SF

98,010 SF

ZONING

R-1-4

APN/PARCEL ID

61-09-37-0-000-179.002,61-09-37-0-000-179.003

ASK ABOUT THIS PROPERTY

Susan CarletonPointe South, IncMore Info
850-492-1148

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Susan CarletonPointe South, IncMore Info
850-492-1148

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.