Apartment Building For
217 8th Street SW Decatur, AL 35601
217 8th Street SW, Decatur, AL, 35601
$1,800,000
For Sale
$1,800,000
MULTI_FAMILY - Decatur, AL
Property Size15,200 SF
Lot Size0.66 Acres
Price / SF$118.42
Days on Market16
Property Features for 217 8th Street SW
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 17
- Parking features
- Parking Lot
- Standard status
- Active
- APN
- 0309301002017.000
- Size
- 15,200 SF
- Lot size
- 0.66 Acres
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Number of units
- 24
Listing agency
Avar Realty, LLC
(256) 457-2277
Listed by
Neil Victor · License #80571
(256) 457-2277
Added: Jul 7 Checked: Jul 22 at 4:06PM
MLS# 21922887
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Investment Insights
Based on property information with market context.
This apartment building for sale offers a residential income configuration with a total building size of 15,200 square feet. The property sits on a 0.66-acre lot in Decatur, Alabama, providing a straightforward, compact footprint for continued multifamily operations.
The subject address is 217 8th Street SW in Decatur, located in Morgan County, AL (35601). The listing information reflects a single multifamily asset and its defined lot and building size.
For investors or owner-operators seeking a manageable multifamily holding, this property provides an apartment building structure within a defined residential income format. The size and lot dimensions may support buyers evaluating underwriting based on the building’s total square footage and the site area shown in the listing. For due diligence, prospective buyers should review the existing building details and confirm unit mix, operating expenses, and current rent/lease status directly with the seller or managing party.
The subject address is 217 8th Street SW in Decatur, located in Morgan County, AL (35601). The listing information reflects a single multifamily asset and its defined lot and building size.
For investors or owner-operators seeking a manageable multifamily holding, this property provides an apartment building structure within a defined residential income format. The size and lot dimensions may support buyers evaluating underwriting based on the building’s total square footage and the site area shown in the listing. For due diligence, prospective buyers should review the existing building details and confirm unit mix, operating expenses, and current rent/lease status directly with the seller or managing party.
Key Highlights
- Parking lot on‑site
- Public water service
- Public sewer
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $224.4k | $14.76 |
| − Vacancy | −$13.9k | −$0.92 |
| EGI | $210.4k | $13.84 |
| − OpEx | −$94.7k | −$6.23 |
| NOI | $115.7k | $7.61 |
15,200 SF · lease $14.76/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.65M
$1.45M – $1.93M
NOI $115,743 @ 7.0% cap · market cap 6.43%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.16M
$2.77M – $3.69M
NOI $221,361 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Residential income property offered for sale in Decatur, Alabama, spanning 15,200 square feet on 0.66 acres.
Where is this apartment building located?
The property is located at 217 8th Street SW Decatur, AL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Parking lot on‑site; Public water service; Public sewer
