1242 Beltline Rd SW
Decatur, AL 35601

Owner will finance and fully amortize loan for strong buyer. 20% down payment. 30 year term. 5.5% for 5 years and .5% increase every 5 years thereafter). No balloon. 100 unit apartment complex with large units located on main road in Decatur, Al. Walking distance to everything. 20 minutes to new Toyota-Mazda factory going in. On 7 acres with room to easily build 20-25 more units on level ground with easy access to utilities. All 2-3 bedroom units have washer/dryer connections. No gas. Onsite office with garage for storage and laundry room. 2nd story units all have concrete floors. No pool. Roofs were all replaced around 7 years ago. New flooring in a lot of units. Owner replaced approximately 20 central heat and air units and lots of stoves and refrigerators. He is also painting all of the exterior wood as soon as the weather dries out. Financial data is limited right now due to owner having to take the property back several months ago from an owner finance deal. Rental rates going up $10-$20 a unit starting April 2018. Owner pays water. Submetering or doing some energy saving features for the toilets, shower heads, sinks, etc could save a lot of money monthly. This property has had strong occupancy for many years. I have 10 years of rent rolls that can be provided. Agent willing to put in 150k for a silent ownership interest.