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613-619 Watts Street

Montgomery, AL 36104
  • $559,900
  • STATUS: Active
  • ON SITE: 156 Days
  • MLS #: 523942
UPDATED: 9 min ago
$559,900
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1950
County:
Area:

School Information

Middle School:
,

Description

A diamond in the rough multi-family investment opportunity! This 16-unit concrete block apartment complex is a total rehab but has the potential to bring in $950 per unit after the apartments are fixed up. The current owner has started the renovation by installing a brand new architectural shingled roof and replacing all the rotten fascia. The after repaired value of the complex is estimated to be approximately $1.1 million. Pro-forma rents are $182,400 per year at $950/month. The complex would be a perfect student housing complex as it is located within walking distance to a 4-year University. The complex is also located within minutes of the many historical attractions in Montgomery including the nationally acclaimed Equal Justice and Freedom Museum and Monument and the forthcoming $70 million white water adventure park. 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." Come experience the southern hospitality of Montgomery and attractive investment opportunities as Alabama has the lowest property taxes in the continental U.S. As an extra tax incentive the complex is in an opportunity zone.

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[Montgomery Area Association of Realtors] logo © 2023 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: 2023-01-28T08:20:31.56.

www.mybuckrealty.com/homes/132448035
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613-619 Watts Street Montgomery, AL 36104

  • Price: $559,900
  • Status: Active
  • On Site: 156 Days
  • Updated: 9 min ago
  • MLS #: 523942
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1950
Built
County:
Montgomery
Area:
Montgomery
Middle School:
,
Property Description
A diamond in the rough multi-family investment opportunity! This 16-unit concrete block apartment complex is a total rehab but has the potential to bring in $950 per unit after the apartments are fixed up. The current owner has started the renovation by installing a brand new architectural shingled roof and replacing all the rotten fascia. The after repaired value of the complex is estimated to be approximately $1.1 million. Pro-forma rents are $182,400 per year at $950/month. The complex would be a perfect student housing complex as it is located within walking distance to a 4-year University. The complex is also located within minutes of the many historical attractions in Montgomery including the nationally acclaimed Equal Justice and Freedom Museum and Monument and the forthcoming $70 million white water adventure park. 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." Come experience the southern hospitality of Montgomery and attractive investment opportunities as Alabama has the lowest property taxes in the continental U.S. As an extra tax incentive the complex is in an opportunity zone.
Exterior Features

Construction Materials BlockConcrete Parking Features AsphaltDriveway Pool Features None

Interior Features

Appliances Electric Water Heater Cooling None Cooling YN No Flooring Tile Heating Wall Furnace Heating YN Yes Interior Features Eat-In Kitchen

Property Features

Architectural Style Two Story Association YN No Foundation Details Slab Gross Income 96000 Lease Considered YN No Lease Term None Levels Two Listing Terms CashConventional Lot Features City Lot MLSArea Minor Montgomery Area Association Of Realtors New Construction YN No Number Of Units In Community 16 Owner Pays Common Area MaintenanceGrounds CareInsuranceTaxes Possession Close Of Escrow Sewer Public Sewer Stories 2 Tax Annual Amount 960 Tax Legal Description Baldwin Plat Lot 3 Blk # Plat Bk 001 Page 086 Tenant Pays Air ConditioningAll UtilitiesElectricityGasHeatSewerTrash CollectionWater Utilities Cable AvailableNatural Gas Available Water Source Public

[Montgomery Area Association of Realtors] logo Listing provided by David Herman of David Herman Realty: 334-207-2464.



[Montgomery Area Association of Realtors] logo © 2023 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: 2023-01-28T08:20:31.56.

 
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10203 Holtville Rd
Deatsville AL, 36022