1120 Stewart StOxford, AL 36203

Property Details for 1120 Stewart St

Year built

1970

Lot size

0.32 AC

Property size (Sq ft)

4,482 SF

Property type

Apartment buildings

Description

This exceptional 8-unit apartment building, located at 1120 Stewart Street in Oxford, Alabama, presents a compelling investment opportunity. The property boasts a total of 4,482 square feet, situated on a 0.32-acre lot. Constructed in 1970 and extensively renovated in 2023, this two-story, full-brick building is in like-new condition, requiring no immediate maintenance. Each of the eight units features one bedroom and one bathroom, recently updated with new flooring, paint, bathrooms, kitchens, and appliances. The property enjoys a 90% occupancy rate, generating a strong net operating income (NOI) of $48,700, resulting in a 7.74% capitalization rate. All units currently rent for $700 per month, with minimal annual expenses estimated at approximately $1,000. The convenient location adjacent to Oxford High School and Interstate 20 provides excellent visibility and accessibility, further enhancing its investment potential. The property offers paved parking spaces for residents. This fee-simple ownership opportunity is priced at $629,000, representing a price per unit of $78,625 and a price per square foot of $140.34. Its strategic location between Birmingham and Atlanta along I-20 adds to its appeal as a stable and profitable investment. The property's Class B designation reflects its quality and recent renovations. The property's APN is 2109301004157.000.

Location Insight

City

Oxford

County

Calhoun

State

Alabama

Latitude

33.6087

Longitude

-85.8324

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