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2442 Palmetto Street

Montgomery, AL 36107
  • $1,200,000
  • STATUS: Active
  • ON SITE: 46 Days
  • MLS #: 519542
UPDATED: 17 min ago
$1,200,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
County:
Area:

School Information

Middle School:
,

Description

21-home SFR portfolio scattered about in Montgomery, AL. There are eleven 2-bedroom, eight 3-bedroom, and two 4-bedroom homes. The average asking price per home of $57,142 is significantly below the average home sales price of $248,793 (April 2022) in Montgomery, AL according to Culverhouse College of Business. The seller purchased the homes one at a time over the past decade. Upon acquisition, the seller deployed the necessary capital to improve the homes. Improvements include kitchen and bath remodels, roofs and repairs, new HVAC units where needed, as well as cosmetic alterations during tenant turns. The homes are 100% occupied. Gross rents are a little over $14,000 a month. Many of the tenants have been in place for more than two years. The portfolio is self-managed providing an investor the opportunity to employ a professional management company to improve operational efficiencies. Another immediate value-add opportunity is raising rents on the month to-month tenants.

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© 2022 Montgomery Area Association of Realtors, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Buck Realty LLC. Data last updated: 2022-08-10T07:20:33.977.

www.mybuckrealty.com/homes/130264398
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2442 Palmetto Street Montgomery, AL 36107

  • Price: $1,200,000
  • Status: Active
  • On Site: 46 Days
  • Updated: 17 min ago
  • MLS #: 519542
0
Beds
0
Baths
0
½ Baths
N/A
Acres
County:
Montgomery
Area:
Montgomery
Middle School:
,
Property Description
21-home SFR portfolio scattered about in Montgomery, AL. There are eleven 2-bedroom, eight 3-bedroom, and two 4-bedroom homes. The average asking price per home of $57,142 is significantly below the average home sales price of $248,793 (April 2022) in Montgomery, AL according to Culverhouse College of Business. The seller purchased the homes one at a time over the past decade. Upon acquisition, the seller deployed the necessary capital to improve the homes. Improvements include kitchen and bath remodels, roofs and repairs, new HVAC units where needed, as well as cosmetic alterations during tenant turns. The homes are 100% occupied. Gross rents are a little over $14,000 a month. Many of the tenants have been in place for more than two years. The portfolio is self-managed providing an investor the opportunity to employ a professional management company to improve operational efficiencies. Another immediate value-add opportunity is raising rents on the month to-month tenants.
Exterior Features

Construction Materials BrickVinyl SidingWood Siding

Interior Features

Appliances Multiple Water Heaters Basement Full Cooling Multi Units Cooling YN Yes Flooring TileVinylWood Heating Multiple Heating Units Heating YN Yes Interior Features Kitchen/Dining Combo

Property Features

Architectural Style One Story Association YN No Documents Count 1 Foundation Details Slab Lease Considered YN No Levels One Listing Terms CashConventional MLSArea Minor Montgomery Area Association Of Realtors New Construction YN No Number Of Units In Community 21 Possession See Remarks Sewer Public Sewer Stories 1 Tax Legal Description 21 Different Parcels. Utilities Electricity Available Water Source Public

Listing provided by Michael Atkins of Harris And Atkins Real Estate: 334-495-4000.



© 2022 Montgomery Area Association of Realtors, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Buck Realty LLC. Data last updated: 2022-08-10T07:20:33.977.

 
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Buck Realty LLC
10203 Holtville Rd
Deatsville AL, 36022