This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
613-619 Watts St
16 Unit Apartment Building $559,900 ($34,994/Unit) Montgomery, AL 36104
Investment Highlights
- Perfect student housing complex opportunity
Executive Summary
A diamond in the rough multi-family investment opportunity! This 16-unit concrete block apartment complex is a total rehab but has the potential to bring in $950 per unit after the apartments are fixed up. The current owner has started the renovation by installing a brand new architectural shingled roof and replacing all the rotten fascia. The after repaired value of the complex is estimated to be approximately $1.1 million. Pro-forma rents are $182,400 per year at $950/month.
The complex would be a perfect student housing complex as it is located within walking distance to a 4-year University. The complex is also located within minutes of the many historical attractions in Montgomery including the nationally acclaimed Equal Justice and Freedom Museum and Monument and the $90 million white water adventure park. Montgomery was named the #1 historical city in the United States by USA Today in 2014 and was listed on the NY Times list of "50 places you must visit before you die."
Come experience the southern hospitality of Montgomery and attractive investment opportunities as Alabama has the lowest property taxes in the continental U.S. As an extra tax incentive the complex is in an opportunity zone.
The complex would be a perfect student housing complex as it is located within walking distance to a 4-year University. The complex is also located within minutes of the many historical attractions in Montgomery including the nationally acclaimed Equal Justice and Freedom Museum and Monument and the $90 million white water adventure park. Montgomery was named the #1 historical city in the United States by USA Today in 2014 and was listed on the NY Times list of "50 places you must visit before you die."
Come experience the southern hospitality of Montgomery and attractive investment opportunities as Alabama has the lowest property taxes in the continental U.S. As an extra tax incentive the complex is in an opportunity zone.
Property Facts
| Price | $559,900 | Lot Size | 0.31 AC |
| Price Per Unit | $34,994 | Building Size | 10,152 SF |
| Sale Type | Investment | Average Occupancy | 1% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | Parking Ratio | 0.3/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Building Class | C |
| Price | $559,900 |
| Price Per Unit | $34,994 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 10,152 SF |
| Average Occupancy | 1% |
| No. Stories | 2 |
| Year Built | 1950 |
| Parking Ratio | 0.3/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 16 | - | - |
1 of 1
PROPERTY TAXES
| Parcel Number | 10-04-18-1-017-004.000 | Improvements Assessment | $5,620 |
| Land Assessment | $1,920 | Total Assessment | $7,540 |
PROPERTY TAXES
Parcel Number
10-04-18-1-017-004.000
Land Assessment
$1,920
Improvements Assessment
$5,620
Total Assessment
$7,540
zoning
| Zoning Code | R-65-D (Multifamily Residential) |
| R-65-D (Multifamily Residential) |
1 of 2
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
613-619 Watts St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.