2925 Hargrove Rd Tuscaloosa, AL 35405

This exceptional eight-unit apartment complex, located at 2925 Hargrove E Rd, Tuscaloosa, Alabama 35405, presents a compelling value-add investment opportunity. The property, built in 2008, consists of two two-story buildings totaling 9,936 square feet and features eight two-bedroom, two-bathroom units. Currently operating at 100% occupancy, each unit commands a monthly rent of $1,000, generating a current Net Operating Income (NOI) of $62,350 and a 5.20% capitalization rate. Significant upside potential exists through achievable rent increases, given the below-market rents currently in place. Further enhancing the property's value, eight new HVAC units were installed in 2023. The property's brick and hardie-board construction ensures durability and low maintenance. The pro-forma NOI is projected at $86,350, resulting in a 7.20% pro-forma cap rate. The asking price is $1,200,000, or $150,000 per unit. The property's APN is 30-09-32-4-001-033.000. This centrally located Tuscaloosa complex offers a strong return on investment with significant potential for future growth. This is a rare opportunity to acquire a well-maintained, fully occupied multifamily property in a desirable location.