4009 Marie Ave NW - Apartments FOR SALE


Huntsville, AL 35816- University/Research Park
$599,000 USD
256-509-2078
4009 Marie Ave NW, Huntsville, AL for Sale
$599,000 USD
Apartments - FOR SALE
1/15
null | 6.64% Cap Rate

4009 Marie Ave NW
Huntsville, AL 35816
University/Research Park


HIGHLIGHTS

  • One-level property includes six studio apartments totaling approximately 2,797 sq. ft.
  • Actual annual rental income is $56,820 at current rents
  • City has provided written confirmation for short-term rental use
  • Air-BnB and short-term rental opportunity to increase rental income

OVERVIEW

Excellent investment opportunity in Huntsville: fully occupied 6-unit studio apartment property with$56,820 in current actual annual rental income, 11 parking spaces, and multiple potential paths to increase returns.This one-level multifamily property includes six studio apartments totaling approximately 2,797 sq. ft. on a 0.34-acre lot with a practical, easy-to-manage layout. The property is currently 100%occupied, providing immediate income from day one.The property features updated studio interiors, refreshed exterior appeal, open kitchen layouts, dedicated living/sleeping areas, convenient off-street parking, and newer roof. Current rent roll and information regarding capital improvements invested into the property are available upon request.The location offers a major advantage for both traditional and furnished rental strategies. The property is conveniently located near UAH, MidCity, downtown Huntsville, Redstone Arsenal, Huntsville hospitals, shopping, dining, and major employment drivers, creating appeal for students, traveling professionals, medical workers, and long-term residents.A key differentiator is that the City has provided written confirmation that short-term rental use is allowed at this property, giving a buyer flexibility that is not available with many Huntsville properties. In addition, virtual staging and mid-term rental market testing have shown strong interest at approximately $1,450/month per unit, creating potential furnished rental upside.Additional upside strategies may include self-management, continued rent growth, furnished mid-term rental use, and adding paid on-site laundry in the existing utility area, where there appears to be room for a commercial washer/dryer setup.This is a rare opportunity to acquire a stabilized, fully occupied 6-unit property with current income, documented rental demand, flexible use potential, 11 parking spaces, and multiple ways to improve returns over time.Occupied-unit inspections to be completed after accepted offer. Buyer to verify all information, including square footage, zoning, rental income, expenses, short-term/mid-term rental use, laundry possibilities, parking, and future income.

FOR SALE DETAILS

PRICE

$599,000 USD

PRICE/SF

$214 USD /SF

# OF UNITS

6

PRICE/UNIT

$99,833

CAP RATE

6.64%

% LEASED

85%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1974

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,810 SF

ZONING

Light Industry

APN/PARCEL ID

14-08-33-1-002-021.000

ASK ABOUT THIS PROPERTY

Len JohnsonGateway Alabama Realty Group, LLCMore Info
256-509-2078

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Len JohnsonGateway Alabama Realty Group, LLCMore Info
256-509-2078

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