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$ 365,000
Est. payment | /mo
12 Beds
8 Baths
4,661 SqFt
$ 365,000
Est. payment | /mo
12 Beds
8 Baths
4,661 SqFt
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,661 sqft
Price per Sqft $78
Subdivision North Creek
MLS Listing ID 231350
Bedrooms 12
Year Built 1985
Lot Size 0.270 Acres
Property Sub-Type Duplex
Property Description
Exceptional opportunity to acquire a hard-to-find single-story quadplex featuring four spacious 3 bedroom, 2 bathroom units—a product type that consistently performs well in today's rental market. Located in a strong rental area, this property offers immediate income with significant upside potential. This asset is currently underperforming due to below-market rents and needed updates, creating a prime value-add opportunity for investors looking to increase cash flow and long-term equity. Current Rent Roll: Unit 1: $1,000/month (Section 8) – Lease through January 2027 Unit 2: $650/month – Lease through November 2026 Unit 3: Vacant – Ready for renovation (estimated ~$10K) Unit 4: $750/month – Lease through June 2026 Investment Highlights: All units are 3BR/2BA – strong tenant demand and higher rent potential Single-story construction – lower maintenance and broader tenant appeal Clear path to increased rents and stabilized income Ideal for investors seeking a value-add repositioning opportunity Market rents for comparable units in the area are estimated at $1,200–$1,400 per unit, offering substantial upside once improvements and lease adjustments are completed. A recent comparable sale within the complex—a smaller 2BR/2BA unit—sold for $390,000, further supporting the long-term value potential of this larger, more desirable unit mix. This property is being offered below market value to reflect current rents and condition, making it an excellent opportunity for investors ready to unlock its full potential.
Location
State AL
Area Alabama-01
Interior
Heating Electric
Exterior
Parking Features One per Unit
Garage Spaces 4.0
Utilities Available Cable Connected
Garage No
Building
Lot Description Less than 1/2 Acre, Level
Sewer Public Sewer
Water Public
Listed by Keller Williams Realty River Cities
Schools and Properties Nearby
Learn More About LPT Realty
LaKesha Weldon
Broker Associate | License ID: 366056