$529,000 Multifamily for Sale — 903 3rd St W, Birmingham, AL 35204, USA
903 3rd St W, Birmingham, AL 35204, USA
Summary
This is a multifamily property for sale at 903 3rd St W, Birmingham, AL 35204, USA, listed at $529,000. The property has 14 units, 19,696 square feet, built in 1950. Financials show net operating income of $57,406, a 10.9% cap rate, gross income of $76,200 based on seller figures.
Key facts
- Asking price: $529,000
- Property type: Multifamily
- Cap rate: 10.9%
- NOI: $57,406
- Gross income: $76,200
- Occupancy: 71%
- Price / unit: $37,786
- Expense ratio: 23.9%
- Units: 14
- Building SF: 19,696
- Year built: 1950
Description
14-unit multifamily for sale in Birmingham, Alabama. 3 separate buildings. 8 x 1BR/1BA and 6 x 2BR/1BA units. 3 renovated 1BR units rent-ready and being marketed. Strong cash flow, value-add potential, growing market. Current Gross Rent: $6,350/mo. Current NOI: $57,831.16. Current Cap Rate: 10.93%. Pro Forma Gross Rent: $7,965/mo. Pro Forma Cap Rate: 14.60%.
Photos
Frequently asked questions
What is the asking price for this multifamily property?
The asking price is $529,000 for the property at 903 3rd St W, Birmingham, AL 35204, USA.
What is the cap rate?
The cap rate is 10.9%, based on $57,406 in net operating income.
How many units does the property have?
The property has 14 units.
How do I make an offer?
You can submit an offer directly to the seller on Caproll — there are no broker commissions, and the underwriting numbers are shown up front.
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