826 1st St W - Apartments FOR SALE


Birmingham, AL 35204- College Hills
$1,190,000 USD
205-234-2906
826 1st St W, Birmingham, AL for Sale
$1,190,000 USD
Apartments - FOR SALE
1/12
null | 3.35% Cap Rate

826 1st St W
Birmingham, AL 35204
College Hills


HIGHLIGHTS

  • Value Add property
  • 16 units need rehab
  • exterior renovated in 2022

OVERVIEW

Great Value Add Opportunity with 16 vacant. 24-unit Property in 3 buildings. Great Value Add Opportunity w/16 vacant. Purchased in 2022 for $1,481,625. Units were renovated in 2022-23 w/all new electrical, plumbing, HVAC ducts/vents and HVAC units, windows, kitchens & baths! (new owner did additional electrical meter upgrades after purchase. Some vandalizing has occurred requiring an estimated $100,000 in cabinets, HVAC, flooring, some cabinets, doors & some plumbing/tile is needed. Some of the vacant units are almost ready to rent!! Needs new owner & good property manger! All main level slab units!! 12 units: 1 bed/1 bath. 12 units: 2 bed/1 bath. Current monthly income is $4,540.00. Property is ONE BLOCK from the 50 Million Dollar Smithfield COMMUNITY TRANSFORMATIONAL GRANT project! Amazing time to buy. Ask for the recent Close to High School, Downtown, public transit and interstate.

FOR SALE DETAILS

PRICE

$1,190,000 USD

PRICE/SF

$67 USD /SF

# OF UNITS

24

PRICE/UNIT

$49,583

CAP RATE

3.35%

% LEASED

29%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1957

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

39,988 SF

ZONING

R5

APN/PARCEL ID

22-00-34-1-030-001.000

ASK ABOUT THIS PROPERTY

Margie Beth ShawKeller Williams VestaviaMore Info
205-234-2906

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Margie Beth ShawKeller Williams VestaviaMore Info
205-234-2906

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