705 Knoxville StBirmingham, AL 35224
- Residential income properties
- 5,680 SF
Property Details for 705 Knoxville St
- Property size (Sq ft)
- 5,680 SF
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
Description
This 8-unit apartment building in Birmingham, Alabama, presents a compelling value-add investment opportunity. Located just 14 minutes from the city's central business district, the property boasts a total of 5,680 square feet. Each unit offers 710 square feet of living space, featuring two bedrooms and one bathroom with washer/dryer connections. Three units have undergone complete renovations with brand-new finishes and are currently leasing at $1,200 per month. The remaining five units are occupied by month-to-month tenants at below-market rates, offering immediate potential for rental income increases. Recent improvements include a new roof and two new central HVAC units; the remaining units have HVAC systems in good, usable condition (approximately 5-7 years old). The property's history demonstrates strong rental demand and stability, having had only two owners in the past 24 years. This property is priced at $550,000 and offers a significant opportunity for an investor to enhance profitability through lease-up and further renovations. Detailed financial information is available upon request.
Location Insight
- City
- Birmingham
- County
- Jefferson
- State
- Alabama
- Latitude
- 33.5057
- Longitude
- -86.925
Comparable in this City
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