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    534 Rosa L Parks Avenue

    Montgomery, AL 36108
    • $3,400,000
    • STATUS: Active
    • ON SITE: 15 days
    • MLS #: 488549
    UPDATED: 16 min ago
    $3,400,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1960
    County:
    Area:

    School Information

    Middle School:
    ,

    Description

    Great income producing investment for this completely renovated, 60-unit apartment complex! This 60 unit complex consists of 49- 2 bedroom units and 11-3 bedroom units with a pro-forma gross rent of $42,700 per month or over half a million dollars per year. Property was completely renovated in 2020 and is currently 40% leased but can easily be 100% leased with better marketing efforts and/or Section 8 tenants. The apartments have new appliances, new electrical, new plumbing to the street, heating & air in all units, and new tank-less hot water heaters. Coin operated laundry room is onsite and property has state-of-the-art security features such as an electronic security gate and 24 hour security surveillance. Property is fully fenced in and the security cameras have a direct link to the Montgomery Police department 24/7. Complex is located within minutes of many historical attractions in the downtown Montgomery area and easy access to public transportation. Montgomery was named the #1 historical city in the United States by USA Today in 2014 and was listed on the NY Times list of "50 places you must visit before you die" The apartments are also located near the nationally acclaimed Equal Justice and Freedom museum and monument which was opened in 2018 and attracted over 600,000 visitors in the first years. The City of Montgomery plans to build a $50 million water park within walking distance of the apartments that will attract many more visitors. Contractor moved onsite to personally supervise the complete renovation of this amazing project, and the quality of the construction is exceptional and first-class. Apartments would be ideal for AirBnb opportunities because of proximity to tourism attractions or can be a solid income producing investment property with long-term tenants.

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    © 2021 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: 2021-02-28T23:20:46.273.

    www.mybuckrealty.com/homes/114193790
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    534 Rosa L Parks Avenue Montgomery, AL 36108

    • Price: $3,400,000
    • Status: Active
    • Updated: 16 min ago
    • MLS #: 488549
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1960
    Built
    County:
    Montgomery
    Area:
    Montgomery
    Middle School:
    ,
    Property Description
    Great income producing investment for this completely renovated, 60-unit apartment complex! This 60 unit complex consists of 49- 2 bedroom units and 11-3 bedroom units with a pro-forma gross rent of $42,700 per month or over half a million dollars per year. Property was completely renovated in 2020 and is currently 40% leased but can easily be 100% leased with better marketing efforts and/or Section 8 tenants. The apartments have new appliances, new electrical, new plumbing to the street, heating & air in all units, and new tank-less hot water heaters. Coin operated laundry room is onsite and property has state-of-the-art security features such as an electronic security gate and 24 hour security surveillance. Property is fully fenced in and the security cameras have a direct link to the Montgomery Police department 24/7. Complex is located within minutes of many historical attractions in the downtown Montgomery area and easy access to public transportation. Montgomery was named the #1 historical city in the United States by USA Today in 2014 and was listed on the NY Times list of "50 places you must visit before you die" The apartments are also located near the nationally acclaimed Equal Justice and Freedom museum and monument which was opened in 2018 and attracted over 600,000 visitors in the first years. The City of Montgomery plans to build a $50 million water park within walking distance of the apartments that will attract many more visitors. Contractor moved onsite to personally supervise the complete renovation of this amazing project, and the quality of the construction is exceptional and first-class. Apartments would be ideal for AirBnb opportunities because of proximity to tourism attractions or can be a solid income producing investment property with long-term tenants.
    Exterior Features

    Construction Materials BlockConcrete Pool Features None Waterfront YN No

    Interior Features

    Appliances Electric RangeRefrigeratorTankless Water Heater Cooling Window Unit(S) Cooling YN Yes Flooring PlankVinyl Heating CentralElectric Heating YN Yes Interior Features Kitchen/Dining Combo

    Property Features

    Architectural Style Two Story Association YN No Foundation Details Slab Lease Considered YN No Lease Term 12 Months Levels Two Listing Terms CashConventional MLSArea Minor Montgomery Area Association Of Realtors New Construction YN No Number Of Units In Community 60 Owner Pays Grounds CareTrash CollectionWater Possession Close Of Escrow Sewer Public Sewer Stories 2 Tax Annual Amount 1618 Tax Legal Description Com Nw Int Grady St & Rosa L Parks Ave Th N 111 To Pob Th W 286.3 Th N 74 Th E 5 Th N 78 Th E 13.4 Th Nely 118.4 Th Sely 15 Th Nely 52.1 Th Sely 193.8 Th S 257 To Pob 2007 Tax Sale Rdmd 7/31/08 Dkt 5 1 Pg 498 Tenant Pays ElectricityHeat Utilities Electricity AvailableHigh Speed Internet Available Water Source Public

    Listing provided courtesy of David Herman of David Herman Realty.



    © 2021 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: 2021-02-28T23:20:46.273.

     
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    Buck Realty LLC
    10203 Holtville Rd
    Deatsville AL, 36022