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Apartment Investment

2130 15th Avenue South
Birmingham, AL 35205

$450,000
  • Apartment Investment Available in Southside Birmingham, AL

Property Information

Property Description – Complex consists of three (3) large rental units. Two are approximately 1,200 square feet and one is approximately 2,000 square feet. All units feature hardwood floors, split system CH&A and washer/dryer connections. Both downstairs units come with an enclosed front porch.

Excellent Location/Access – The Southside of Birmingham offers convenience to Downtown Birmingham, UAB, various entertainment districts, and St. Vincent’s. Rental Rates in this area are the highest in Birmingham and rental demand is strong. All over the mountain neighborhoods are easily accessible by Highway 280, Highway 31, and Interstate 65.

Good Operating History – The complex maintains a very high occupancy level averaging close to 100% while maintaining good cash flow from operations. The units currently rent for an average of $0.76 per square foot. Market rents for this type of property are between $1.00-$1.35 per square foot. Our ProForma analysis uses $1.00 per square foot for market rent.

Steve Lazarus - Associate Broker at Southpace Properties

Contact:

Steve Lazarus
slazarus@southpace.com
205-271-7233