Timberchase Apartments | 712 47th St N
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Timberchase Apartments 712 47th St N
10 Unit Apartment Building $535,000 ($53,500/Unit) 2.15% Cap Rate Birmingham, AL 35212
Investment Highlights
- Renovated with-in the last 4 years.
- parking lot
- Located near downtown and public transit
Executive Summary
Great investment opportunity with value add opportunity!!
(10) Two bedroom and One bath units!
Renovated in 2020-21 with luxury vinyl tile flooring throughout each unit, new paint, light fixtures, New wall mounted HVAC units (heating and cooling) New countertops, bathroom vanities, new roof (in 2021) Modern exterior/interior paint color scheme. Washer & Dryer connection in each unit, Refrigerators and stoves in each unit in 2021 (according to previous sale) 24/7 offsite security video surveillance. Large parking to for tenants and guests! TENANT PAYS UTILITIES. ALL SEPARATE METERS FOR WATER AND ELECTRICAL. 6 units rented and 4 units are rent ready!
(10) Two bedroom and One bath units!
Renovated in 2020-21 with luxury vinyl tile flooring throughout each unit, new paint, light fixtures, New wall mounted HVAC units (heating and cooling) New countertops, bathroom vanities, new roof (in 2021) Modern exterior/interior paint color scheme. Washer & Dryer connection in each unit, Refrigerators and stoves in each unit in 2021 (according to previous sale) 24/7 offsite security video surveillance. Large parking to for tenants and guests! TENANT PAYS UTILITIES. ALL SEPARATE METERS FOR WATER AND ELECTRICAL. 6 units rented and 4 units are rent ready!
Data Room Click Here to Access
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $535,000 | Building Class | C |
| Price Per Unit | $53,500 | Lot Size | 0.48 AC |
| Sale Type | Investment | Building Size | 7,384 SF |
| Cap Rate | 2.15% | Average Occupancy | 65% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1974/2021 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Price | $535,000 |
| Price Per Unit | $53,500 |
| Sale Type | Investment |
| Cap Rate | 2.15% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 7,384 SF |
| Average Occupancy | 65% |
| No. Stories | 2 |
| Year Built/Renovated | 1974/2021 |
| Parking Ratio | 1/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Washer/Dryer Hookup
- Refrigerator
- Oven
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 10 | $700.00 | - |
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PROPERTY TAXES
| Parcel Number | 23-00-20-4-005-026.000 | Improvements Assessment | $0 (2024) |
| Land Assessment | $0 (2024) | Total Assessment | $99,560 (2024) |
PROPERTY TAXES
Parcel Number
23-00-20-4-005-026.000
Land Assessment
$0 (2024)
Improvements Assessment
$0 (2024)
Total Assessment
$99,560 (2024)
zoning
| Zoning Code | R5 |
| R5 |
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Timberchase Apartments | 712 47th St N
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