1712 Rhodes StMontgomery, AL 36106

Property Details for 1712 Rhodes St

Year built

1994

Construction

WOOD

Lot size

0.15 AC

Property size (Sq ft)

3,606 SF

Zone code

SD-M

Property type

Residential income properties

Property subtype

Residential income homes

APN

10-04-17-2-017-002.001

APU

1004172017002001

Description

Exceptional investment opportunity in Montgomery, Alabama, presents a rare chance to acquire a thriving three-building, six-unit apartment complex ideally situated near Jackson and Baptist Jackson Hospitals. Built in 2005 and extensively renovated in 2022, this property boasts premium interior and exterior finishes, attracting high-demand tenants, particularly nurses and medical professionals. Its location ensures consistently high occupancy rates, often exceeding 100% with a waiting list. The property commands above-market rents, generating substantial annual rental income projected at $230,000 at full occupancy, resulting in a CAP rate just below 8%. Each unit includes in-unit washer/dryer and designer furnishings. The property's remote management capabilities, featuring smart technology like Wi-Fi connected locks and smart thermostats, streamline operations and tenant interactions. This turnkey investment is offered fully furnished, providing immediate income generation and a seamless transition for new ownership. The property's strong performance and high demand make it an exceptional addition to any investment portfolio. Located at 1712 Rhodes St, Montgomery, AL 36106.

• CAP approach

  CAP return

  Valuation

  6%

  $579,260

  6.5%

  $534,701

  7%

  $496,508

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,090,249

  Geo Method

  $1,090,249

• Alternative Use

  Use

  Valuation

  Residential

  $534,701

  Hospitality

  $489,784

  Educational

  $407,494

  Medical

  $421,508

  Retail

  $633,880

Location Insight

City

Montgomery

County

Montgomery

State

Alabama

Latitude

32.371

Longitude

-86.2862

CBSA code

33860

CBSA name

MONTGOMERY, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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