603 Hargrove RdTuscaloosa, AL 35401

This exceptional investment opportunity presents a 48-unit apartment building situated on a 1.52-acre lot in Tuscaloosa, Alabama. Built in 1966, the property boasts a total of 38,592 square feet and features a mix of one and two-bedroom units, averaging approximately 800 square feet each. Currently operating at 100% occupancy, this asset offers significant upside potential due to below-market rents in many units. Recent renovations in 2019, including fresh paint, LVT flooring, and new lighting, enhance the appeal and value of the property. The property is zoned BN (Neighborhood Business) and benefits from its central Tuscaloosa location, attracting a stable tenant base of working-class residents seeking affordable housing. The asking price is $3,490,000, representing a price per unit of $72,708 and a current cap rate of 5%. The property's parcel ID is 31-07-25-4-007-005.000. This two-story building presents a strong cash flow opportunity with potential for increased profitability through further rent adjustments. The property's prime location and solid occupancy rate make it an attractive investment for discerning buyers seeking a stable and appreciating asset in a growing market.