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21418264
31476948

4 Locations

LJ
40398
Gateway Alabama Realty Group, LLC
Listed by Gateway Alabama Realty Group, LLC
$1,450,000
494 days on market
Updated 5 days ago
Opportunity zone

Decatur 14-Unit Multifamily Estate Portfolio

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 13,968
Units 14
Cap Rate 6.18%
NOI $89,588
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 8.05%
Pro-Forma NOI $116,760
Price per SqFt $104
Class C
Year Built 1985, 1956
Year Renovated 2023, 2024, 2025
Buildings 4
Stories 2
Investment Type Stabilized
Ownership Executor for Serra Properties LLC

Alabama assets with immediate in-place rental income in the Decatur dynamic real estate market

Marketing description

Introducing an exceptional investment opportunity in Decatur, Alabama—14 multifamily properties that have been well maintained and recently renovated consisting of three 4-plex buildings and one duplex. Boasting an impressive 100% occupancy rate, these multifamily gems offer a prime locations within the thriving Decatur area. Units has been recently renovated to offer modern comforts and conveniences, ensuring tenant satisfaction and maximizing investment potential. With its strong occupancy rate and strategic positioning, this property presents a compelling opportunity for multifamily/low-rise/garden investors seeking an asset with in place immediate rental income in the dynamic Decatur real estate market.

Portfolio includes:

1816 Glenn Street, Decatur, AL 35603, built 1985, 4 units, property tax $1,997.73; insurance $2,147.22

1803 Graymont Lane, Decatur, AL 35603, built 1985, 4 units, property tax $2,024.91; insurance $2,176.35

1809 Windover Place, Decatur, AL 35603, built 1985, 4 units, property tax $2,018.58; insurance $2,145.90

202 Somerville Road, Decatur, AL 35601, built 1956, 2 units, property tax $1,638.06; insurance $1,298.89

Investment highlights

  • 13,968 SF across four separate buildings

  • 14 units Offering value-add opportunity

  • Impressive 100% occupancy rate

  • Achieved proven market rents

  • Well-maintained with recent updates and upgrades

  • Short commute to major corporate manufacturing and distribution plants

Listing Contacts

LJ
40398
Gateway Alabama Realty Group, LLC
Listed by Gateway Alabama Realty Group, LLC

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$89,588.00
$7,465.67/mo

Valuation Metrics

0
DSCR
6.18%
Cap Rate
6.18%
ROI

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