3701 Wesley Drive
Montgomery, AL 36111
1.55 acres | #7326558
Description
INVESTORS DREAM!!!
22-unit apartment building with huge upside potential. 15 of 22 units have been fully renovated and have tenants in them. There remains seven units to be remodeled. This is a great investment. All 1 Bedroom units are 900+ square feet and the 2 Bedroom apartments are 1000+ Sq/Ft with large patio/balconies. There is an incredible courtyard out back offering residents a place to rest and relax among nature.
Two of the members of the company who owns the property are licensed Alabama and Georgia real estate agents
There are three 1 bedroom 1 bath units, all have been renovated.
There are fifteen 2 bedroom 1 bath units, all but three have been renovated.
There are four 2 bedroom 2 bath units that have yet to be renovated.
Owner pays water and trash ($27/can) as well as the electricity for the outdoor lights.
Potential monthly gross income for the 1 bdrm 1 bath units is $675 x 3 units=$2025, $875 x 15 units is $13125 and $950 x 4 =$3800. Therefore, the total potential gross monthly rental income is $18,950 or $227,400 annually.
Property Details
- ViewCity, Trees/Woods
- Lot DescriptionLevel
Measurements
- Acres1.55
Parking
- Parking FeaturesParking Lot
Construction Details
- Property TypePurchase
Condition
- Year Built1963
Utilities / Energy Details
- Utility FeaturesCable Available, Electricity Available, Natural Gas Available, Phone Available
- Sewer InformationPublic Sewer
- Utility SourcePublic
Community and Neighborhood Details
- SubdivisionNormandale
Location
- Elementary SchoolJohnson - Montgomery
- CountyMontgomery - AL
- High SchoolLanier Senior
- Middle SchoolMcKee
Financial Details
- Original List Price$1,400,000
- Taxes Annual$4,380
Other
- MLS #7326558
Location
Legal
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Last Updated: . Source: FMLS
Listing Courtesy
Listing Agent: Jaquon Robinson (#ROBINSONJAQ)
Listing Office: Keller Williams Buckhead (#KWBA01)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
