3004 Avenue W, Birmingham, AL 35208
- $699,900
- List Price
- $699,900
- Status
- ACTIVE
- Days on Market
- 1
- MLS#
- 21462453
- Year Built
- 1988
- Subdivision
- Miller
- MLS Area Major
- Ensley, Fairfield, Midfield, West End
Property Description
VALUE-ADD MULTIFAMILY INVESTMENT OPPORTUNITY! Don't miss this opportunity to acquire an 100% occupied, 11-unit apartment complex strategically located in Birmingham with convenient access to the Birmingham's CrossPlex, Downtown Birmingham, UAB, major employment centers and transportation corridors. The property consists of 11, 2-BR, 1-BA units, each equipped with central HVAC, washer/dryer connections, and separately metered utilities. The real opportunity is in the property's significant rental upside. Current rents are below prevailing market rates, creating an attractive value-add opportunity to increase revenue over time through strategic management, improvements, and rent optimization. With 100% occupancy and considerable room for rental growth, this property offers the potential to strengthen NOI and increase the property's long-term value. Priced below its appraised value, this 11-unit complex presents a compelling opportunity for an investor, looking to expand.
Additional Information
- Financing
- Conventional
- Air Conditioning
- Central w/Ind Ctrl(COOL)
- Exterior Construction
- Brick, Siding
- Parking
- 1 Space per Unit
- Elementary School
- Minor
- Middle School
- Bush Hills Academy
- High School
- Jackson-Olin
Listing courtesy of Barnes & Associates.