3701-3743 Wesley Dr - Apartments FOR SALE


Montgomery, AL 36111- Outer South/Airport
$1,249,000 USD
404-579-6699
3701-3743 Wesley Dr, Montgomery, AL for Sale
$1,249,000 USD
Apartments - FOR SALE
1/32
null | Request Cap Rate

3701-3743 Wesley Dr
Montgomery, AL 36111
Outer South/Airport


HIGHLIGHTS

  • 16 of 22 units fully renovated
  • New Hvac systems
  • Value Add Opportunity

OVERVIEW

INVESTORS DREAM!!! Great 22-unit apartment building with huge upside potential. 16 of 22 units have been fully renovated and have tenants in them. There remains seven units to be remodeled. This is a great investment. All 1 Bedroom units are 900+ square feet and the 2 Bedroom apartments are 1000+ Sq/Ft with large patio/balconies. There is an incredible courtyard out back offering residents a place to rest and relax among nature. Two of the members of the company who owns the property are licensed Alabama and Georgia real estate agents There are three 1 bedroom 1 bath units, all have been renovated. There are fifteen 2 bedroom 1 bath units, all but three have been renovated. There are four 2 bedroom 2 bath units that have yet to be renovated. Owner pays water and trash ($27/can) as well as the electricity for the outdoor lights. Potential monthly gross income for the 1 bdrm 1 bath units is $675 x 3 units=$2025, $875 x 15 units is $13125 and $950 x 4 =$3800. Therefore, the total potential gross monthly rental income is $18,950 or $227,400 annually.

FOR SALE DETAILS

PRICE

$1,249,000 USD

PRICE/SF

$47 USD /SF

# OF UNITS

22

PRICE/UNIT

$56,773

CAP RATE

Request Cap Rate

% LEASED

72%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Rosa

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.55 AC

LAND SF

67,470 SF

ZONING

R-75-M

APN/PARCEL ID

10-09-30-4-014-002.000

ASK ABOUT THIS PROPERTY

Jaquon RobinsonKw MontgomeryMore Info
404-579-6699

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Jaquon RobinsonKw MontgomeryMore Info
404-579-6699

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