2553 Lower Wetumpka Rd - Apartments FOR SALE


Montgomery, AL 36110
$1,995,000 USD
334-604-3856
2553 Lower Wetumpka Rd, Montgomery, AL for Sale
$1,995,000 USD
Apartments - FOR SALE
1/34
null | Request Cap Rate

2553 Lower Wetumpka Rd
Montgomery, AL 36110


HIGHLIGHTS

  • Priced below replacement cost of $68 per square of total 29,272 SF out of 7 buildings
  • Average 90-95% occupancy
  • $48,659 a door - total 41 units for sale. 21 (2 beds & 1 bath) and 20 (1 bed & 1 bath)

OVERVIEW

$48,659 a door - total 41 units for sale. 21 (2 beds & 1 bath) and 20 (1 bed & 1 bath). Average 90-95% occupancy. Priced below replacement cost of $68 per square of total 29,272 SF out of 7 buildings. Close to 50% tenant is from Section 8. New roof for all 7 buildings are underway. It will be delivered with new roof for a $130K value (please see pictures) Section 8 pays: Up to $1147 for a 2 bed 1 bath voucher (please see attached flyer and OM for more info) Up to $959 for a 1 bed 1 bath voucher (please see attached flyer and OM for more info) Buyer can add value by increasing more Section 8 tenants for better cash flow. Section 8 pays the section 8 portion of the rent on the 1st day of the month to the landlord’s bank account. Fully renovated interior in 2022. Decent size apt with granite counter top in Kitchen and bathroom. Mix of central, wall and window HVAC and A/C units throughout the buildings. Please call 334-604-3856 or email at 534mgm@gmail.com for more info.

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$68 USD /SF

# OF UNITS

41

PRICE/UNIT

$48,659

CAP RATE

Request Cap Rate

% LEASED

92%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Barrington Hills

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

88

LAND DETAILS

LAND ACRES

2.51 AC

LAND SF

109,336 SF

ZONING

M-1

APN/PARCEL ID

04-09-32-3-004-001.000

ASK ABOUT THIS PROPERTY

Jacob KhanIRP MGM PROPERTIES LLCMore Info
334-604-3856

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Jacob KhanIRP MGM PROPERTIES LLCMore Info
334-604-3856

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