603 Hargrove RdTuscaloosa, AL 35401

Property Details for 603 Hargrove Rd

Lot size

1.52 AC

Property size (Sq ft)

38,592 SF

Property type

Other multifamily properties

Property subtype

Residential income properties

Description

This exceptional investment opportunity presents a 48-unit multifamily property situated at 603 Hargrove Road E, Tuscaloosa, Alabama. Built in 1966, this 38,592 square foot complex sits on a 1.52-acre lot and offers a compelling blend of established tenancy and recent upgrades. The property comprises two distinct floor plans, catering to a range of resident needs. Units feature either one bedroom and one bathroom or two bedrooms and one bathroom, with an average unit size of approximately 800 square feet. Significant improvements were undertaken in 2019, encompassing fresh paint, the installation of luxury vinyl tile (LVT) flooring, and the upgrade of lighting fixtures throughout. These renovations have contributed to the property's strong occupancy rates and appeal to working-class residents. The central Tuscaloosa location provides convenient access to employment centers, shopping, and other amenities, ensuring consistent demand for these affordably priced units. The property's strong historical performance and recent upgrades make it an attractive investment prospect for those seeking a stable and potentially high-yielding asset in a thriving Alabama market. The asking price is $3,490,000. This represents a significant opportunity to acquire a well-maintained, income-producing multifamily property in a desirable location. Detailed financial information and property reports are available upon request.

Location Insight

City

Tuscaloosa

County

Tuscaloosa

State

Alabama

Latitude

33.1869

Longitude

-87.5276

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