1816 Glenn StDecatur, AL 35603

Property Details for 1816 Glenn St

Year built

1985

Construction

WOOD

Property size (Sq ft)

3,448 SF

Property type

Apartment buildings

APN

02-07-36-3-000-005.010

APU

207363000005010

Description

This exceptional investment opportunity presents a portfolio of three (3) quadplexes totaling twelve (12) units in Decatur, Alabama. Located at 1816 Glenn St SW, 1803 Graymont Ln SW, and 1809 Windover Pl SW, these properties boast a combined 10,800 square feet of net rentable space, currently operating at 100% occupancy as of July 1, 2024. Each unit features two bedrooms and one bathroom. The portfolio is offered at $1,299,000, representing a price per unit of $108,250 and a price per square foot of $120.28. The current Net Operating Income (NOI) is $60,000, yielding a 5% capitalization rate. While the pro-forma NOI is projected at $52,500, maintaining a 5% cap rate, the current rents are significantly below market value, presenting a substantial value-add potential for the astute investor. All three properties are professionally managed and have undergone upgrades. The properties are being sold as a package "AS IS". Financial documentation, including a rent roll and twelve-month income statement, is available upon request. Showings are by appointment only after a formal offer with proof of funds is submitted. Unit showings will be limited to the inspection period.

Location Insight

City

Decatur

County

Morgan

State

Alabama

Latitude

34.5645

Longitude

-87.0157

CBSA code

19460

CBSA name

DECATUR, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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