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29930678
29930679

4 Locations

LJ
40398
Gateway Alabama Realty Group, LLC
Listed by Gateway Alabama Realty Group, LLC
$1,825,000
152 days on market
Updated 2 days ago

217, 219, 223, & 225 8th Street SW - 24 Unit Portfolio

Details
APN 0309301002017000; 0309301002017002
Property Type Multifamily
Sub Type Apartment Building, Low-Rise/Garden
Square Footage 14,976
Units 24
Cap Rate 6.94%
NOI $126,647
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 8.46%
Pro-Forma NOI $162,960
Class C
Year Built 1984
Year Renovated 2026
Buildings 4
Stories 2
Lot Size (SqFt) 19,607
Investment Type Core+

Exceptional opportunity - 24 apartment units - calling for offers

Marketing description

Introducing a prime investment opportunity in the heart of Decatur, AL. This multifamily property at offers 4 buildings with a total of 24 units priced at $76,042/unit. Each building consists of 2 two-bedroom one-bath units and 4 one-bedroom one-bath units. With a total area of 14,976 SF, these recently renovated buildings underwent significant updates and upgrades in 2025 & 2026, and now boasts full occupancy. Some of the recent upgrades and updates include granite countertops, new kitchen cabinets, new appliances, new bathroom vanities, new flooring and modern decor. Value-add ready as market rents offers room to increase rents now with newly renovated units. The property features brick and vinyl exteriors plus some metal roofing that can lower maintenance costs and durability. Whether you're a seasoned investor or entering the multifamily real estate market, this property presents a compelling opportunity for steady returns and long-term growth potential.

Discover the charm of Decatur, AL, where the property is situated. Nestled in a bustling neighborhood, residents can explore a variety of local attractions and conveniences within close proximity. From the adjoining historic districts to the serene Riverwalk Marina, the area offers an inviting mix of cultural and leisure experiences. Nearby eateries, boutique shops, and recreational facilities provide a comfortable and convenient lifestyle for residents. With easy access to major transportation routes and scenic natural surroundings, this location offers the perfect blend of urban accessibility and small-town appeal for multifamily living.

Investment highlights

  • 4 six-unit buildings for a total of 24 units priced at $76,042/unit,
  • 8 two-bedroom one-bath units and
  • 16 one-bedroom one-bath units
  • Modern kitchen and bath upgrades and updates in 2025 & 2026
  • Some kitchen upgrades will include new cabinets and granite countertops
  • Brick and vinyl exteriors
  • 217 & 219 8th Street have asphalt shingle roofs in good condition
  • 223 & 225 8th Street have metal roofing provide durability
  • Flooring upgrades and updates in 2025 & 2026
  • Water heaters and appliances replacements in 2025 & 2026
  • HVAC replacements in 2025
  • All units have Washer/Dryer hookups

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
$126,647.00
$10,553.92/mo

Valuation Metrics

0
DSCR
6.94%
Cap Rate
6.94%
ROI

Map

Zoning

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R-4 ResidentialMulti FamilyMultifamily Residential
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Last updated May 12, 2026 For deeper zoning details, reports are available at Zoneomics

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