Here is your chance to acquire a 20 unit value-add apartment... |
| Ad # 4432602 |
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| $1,479,000 For Sale |
| MLS # 21372202 |
700 AQUARIUS DRIVE |
| Alpine, Alabama 35014 |
| Talladega |
Golf Course:
Alpine Bay Resort |
| Type Apartment |
| Beds 44 |
| Baths 44.0 |
| Sq Feet 0 |
| Year Built 1986 |
| Acres 0.000 |
Lot Dimensions
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| On Golf Course? |
| Golf View? No |
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| Call now! Connect with a local expert
1-855-943-4183
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Here is your chance to acquire a 20 unit value-add apartment complex located directly on Alpine Bay Golf Course, a Robert Trent Jones Golf Course. Investor stopped construction midway through the project. There is plenty of value for the right investor to complete renovations and either hold long term or sell for a large profit (either as an apartment complex or as individualized condos). At full occupancy property will gross approx. $242,400 per year. ARV of approx. $2,500,000 upon completion. Apt Complex Details; 20 Units (16) 2BR/2BA/1,100sqft & (4) 3BR/3BA/1,300sqft. 2/2 Market Rents = $975/mo & 3/3 Market Rents = $1,150/mo. Approx. $320k-$340k construction remaining to complete project. Current Condition in more detail: 8 units are 95% complete (electrical/plumbing replaced, etc. only needs minor cosmetics). 4 units are 60% complete. 8 units are 15% complete (Partial demo has started - Complete rehab required). Happy to share supporting documentation. Creative financing available. |
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Dogwood Hills |
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| Ad Number: |
4432602 |
| Viewed: |
225 times |
| Added on: |
Dec 12, 2023 |
| Updated on: |
Dec 12, 2023 |
| Listing Agent: Noor Jarrar, eXp Realty Central, 205-527-1250, 888-923-5547
Listing Site, Listing Status: Active
Copyright © 2024 Greater Alabama MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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