115 Cotton AveBirmingham, AL 35211

Property Details for 115 Cotton Ave

Year built

1950

Lot size

0.55 AC

Property size (Sq ft)

3,648 SF

Zone code

R3

Property type

Garden apartment buildings

APN

29-00-03-1-023-001.000

APU

2900031023001000

Description

This exceptional 8-plex commercial property in Birmingham, Alabama, presents a lucrative investment opportunity. Situated on a 0.55-acre lot at 115 Cotton Avenue SW, this established group home and boarding facility caters to both long-term and short-term residents. The property consists of two meticulously maintained 4-plex buildings, each featuring eight fully furnished units. Extensive renovations completed in 2011 included the installation of new electrical and plumbing systems, ensuring compliance with all relevant certifications. Each unit boasts a spacious living room, an open dining area, and a kitchenette, along with two bedrooms and one full bathroom. The facility operates at a 20-bed capacity, providing residents with comfortable and secure accommodations. A key feature is the communal dining area, where three meals are served daily using a fully equipped commercial kitchen complete with a walk-in pantry and commercial sink. The property's exterior is equally impressive, featuring lush landscaping, a grill, and a social pergola. Security measures include a gated community and security cameras, enhancing the safety and peace of mind for residents and staff. Convenient front and rear building entrances, along with a large parking lot, ensure easy access for all. This turnkey operation offers a strong return on investment with its established clientele and well-maintained infrastructure. A non-disclosure agreement is required for access to further detailed financial information.

• CAP approach

  CAP return

  Valuation

  6%

  $956,744

  6.5%

  $883,148

  7%

  $820,066

• Comparable approach

  Method

  Valuation

  Relative Method

  $921,045

  Geo Method

  $1,102,947

• Alternative Use

  Use

  Valuation

  Residential

  $883,148

  Hospitality

  $808,959

  Educational

  $673,045

  Medical

  $696,192

  Retail

  $1,046,958

Location Insight

City

Birmingham

County

Jefferson

State

Alabama

Latitude

33.5012

Longitude

-86.8366

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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