For Sale
$1,050,000

608 Connemara PlWeaver, AL 36277

17-Unit Apartment Complex, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a three-building apartment portfolio situated in the Anniston, Alabama area. The portfolio comprises 17 units, all featuring two bedrooms and one bathroom, currently boasting 100% occupancy. Built in 1965, these Class C properties offer a compelling return on investment with a 5.66% capitalization rate and a strong net operating income (NOI) of $62,335. The asking price is $1,050,000, translating to $61,764.71 per unit. The portfolio includes three buildings, two of which are conveniently located next to each other, providing ample parking for residents. Two of the buildings are located at 604 and 608 Connemara Place, and the third is at 40 Cave Road, all in Weaver, Alabama, zip code 36277. The properties are offered fee simple, and existing property management is in place, simplifying operations for the new owner. This is a turnkey investment opportunity with significant potential for future growth and cash flow. Detailed financial statements are available upon request. This is a rare opportunity to acquire a well-maintained, high-performing multifamily portfolio in a desirable location.

Highlights

  • $1,050,000 asking price for a 17-unit apartment building portfolio.
  • Fee simple ownership of three, two-story buildings totaling 17 units.
  • Located in Weaver, Alabama (Anniston area), at 604 & 608 Connemara Pl and 40 Cave Rd, zip code 36277.
  • All units are 2BR/1BA, currently 100% occupied, generating a $62,335 NOI.
  • 5.66% cap rate with established property management in place.
  • $61,764.71 price per unit.

Property Details for 608 Connemara Pl

Property type
Apartment buildings
Class
C
Year Built
1965
Buildings
3
Stories
2
Units
17

Location Insight

City
Weaver
County
Calhoun
State
Alabama
Latitude
33.755299333319
Longitude
-85.797224286049
608 Connemara Pl, Weaver, Alabama

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608 Connemara Pl
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