7720 Madrid Avenue, Birmingham, AL 35206
- $1,350,000
- List Price
- $1,350,000
- Status
- ACTIVE
- Days on Market
- 30
- MLS#
- 21459954
- Year Built
- 1964
- Subdivision
- East Lake
- MLS Area Major
- EastLake, Woodlawn
Property Description
Welcome to 7720/7730 Madrid Ave, 20 light-filled Garden Apartment units. Market rents for these units now $800/door. Tenants have separate meters for electricity and water, owner pays trash and landscaping. Virtually all new HVAC, new water heaters majority, newly refinished parking lot, exterior lighting, new railings for both buildings to code, flooring and paint. Poised for long-term cash flow and appreciation. Less than 10 miles from downtown, East Lake is a desirable part of the city where tenants can be close to work, family, shopping centers, and nature. Quiet buildings occupied by working families. Professional Management in place with established tenant relationships for ease of transition, offering 3 months free rent collection and accounting.
Additional Information
- Financing
- Cash, Conventional
- Air Conditioning
- Central Control (COOL)
- Exterior Construction
- Brick and Frame
- Parking
- 2 Spaces per Unit
- Elementary School
- Barrett
- Middle School
- Ossie Ware Mitchell
- High School
- Woodlawn
Listing courtesy of Bear Flag Property Management.