Occupied Duplex For
23888 US Highway 98 Elberta, AL 36530
23888 US Highway 98, Elberta, AL, 36530
$429,000
For Sale
$429,000
MULTI_FAMILY - Elberta, AL
Property Size2,800 SF
Price / SF$153.21
Days on Market166
Property Features for 23888 US Highway 98
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bedroom 5, Bedroom 6, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 4, Bathroom 1, Bedroom 2, Bathroom 3
- Appliances
- Dishwasher, Range-Electric
- Standard status
- Active
- APN
- 54-07-25-0-000-002.027
- Size
- 2,800 SF
Taxes and HOA fees
- Tax Description
- 52(S) X 158(S) Irr That Pt Of Lot 3 Cotton Sub Slide 1898- B Desc As Fm Se Cor Of Lot 3 Th Run N 153(S) For The Pob, T H W 49(S), Th Nw 25(S), Th W 80(S), Th N 64(S), Th Ne 12 0.6, Th E 36.5, Th S 158(S) To The Pob Sec 25-T7s-R2e (Sp Wd)
Building Details
- Year built
- 2004
- Floors in Building
- 2
- Flooring type
- Tile
- Roof type
- Metal
- Architectural style
- Other
Listing Agency
Beachball Properties
(251) 968-8896
22989 Perdido Beach Blvd, Gulf Shores, AL
Listed by
Jonathan Bennett · License #110875
(251) 424-5682
Added: Feb 1 Checked: Jul 17 at 9:06 am
MLS# 391143
Listing URL
Copyright © 2026 Baldwin REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This occupied duplex is located just off U.S. Highway 98 in the Elberta/Foley area and sits on an approximately 0.37-acre parcel. The property is set up to provide ample parking and offers convenient access to nearby Baldwin County communities. Both units are currently occupied on month-to-month leases.
Recent capital improvements include a metal roof installed in 2020, HVAC replaced in 2018, and a full PEX plumbing replacement completed in 2022.
Buyer to verify all information deemed important during due diligence.
Recent capital improvements include a metal roof installed in 2020, HVAC replaced in 2018, and a full PEX plumbing replacement completed in 2022.
Buyer to verify all information deemed important during due diligence.
Key Highlights
- Duplex on an approximately 0.37‑acre parcel just off U.S. Highway 98 in the Elberta/Foley area
- Metal roof installed in 2020
- HVAC replaced in 2018
Local Financial Insights For Multifamily LT 5
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 | $38.6k | $13.80 |
| − Vacancy | −$2.0k | −$0.72 |
| EGI | $36.6k | $13.08 |
| − OpEx | −$11.0k | −$3.92 |
| NOI | $25.6k | $9.16 |
2,800 SF · lease $13.80/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$366.3K
$320.5K – $427.4K
NOI $25,642 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$326.0K
$285.3K – $380.4K
NOI $22,823 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$673.3K
$589.2K – $785.6K
NOI $47,134 @ 7.0% cap · market cap 10.99%
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?
Duplex - Duplex on an approximately 0.37-acre parcel with ample parking and month-to-month tenant occupancy.
Where is this duplex located?
The property is located at 23888 US Highway 98 Elberta, AL.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: Duplex on an approximately 0.37‑acre parcel just off U.S. Highway 98 in the Elberta/Foley area; Metal roof installed in 2020; HVAC replaced in 2018
