3004 Avenue W, Birmingham, AL 35208
- $699,900
- List Price
- $699,900
- Status
- ACTIVE
- MLS#
- 21462453
- Property Type
- Multifamily
- Year Built
- 1988
- Parcel
- 29-00-05-3-004-018.000
Property Description
VALUE-ADD MULTIFAMILY INVESTMENT OPPORTUNITY! Don't miss this opportunity to acquire an 100% occupied, 11-unit apartment complex strategically located in Birmingham with convenient access to the Birmingham's CrossPlex, Downtown Birmingham, UAB, major employment centers and transportation corridors. The property consists of 11, 2-BR, 1-BA units, each equipped with central HVAC, washer/dryer connections, and separately metered utilities. The real opportunity is in the property's significant rental upside. Current rents are below prevailing market rates, creating an attractive value-add opportunity to increase revenue over time through strategic management, improvements, and rent optimization. With 100% occupancy and considerable room for rental growth, this property offers the potential to strengthen NOI and increase the property's long-term value. Priced below its appraised value, this 11-unit complex presents a compelling opportunity for an investor, looking to expand.
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Additional Information
- Basement
- Crawl Space
- Elementary School
- Minor
- Middle School
- Bush Hills Academy
- High School
- Jackson-Olin
- Cooling
- Central Air
- Flooring
- Laminate
- Sewer
- Sewer
- Subdivision
- Miller
- Region
- 290
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Listing courtesy of Barnes & Associates.