Tuscaloosa Multifamily Investment
407 30th Place, Tuscaloosa, AL 35401
MULTI_FAMILY - Tuscaloosa, AL
Type:Apartment
Property size:
3,465 SFLot size:
0.44 AcresPrice / SF:
$115/SF- Added:
- Sep 30, 2025
- Days on Market:
- 246
- Last Refresh:
- Jun 2 at 4:06 pm
Property Features for 407 30th Place
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Standard status
- Active
- APN
- 633107362003011.000
- Size
- 3,465 SF
- Lot size
- 0.44 Acres
Taxes and HOA fees
- Tax Description
- Lot 18 & 19 in University Manor Subd
- Tax Annual Amount
- 1470
Building Details
- Year built
- 1970
- Roof type
- Composition, Shingle
Listing agent Cindy Osborne License #265397 (912) 601-6000
Listing office Osborne, Inc 208 S Main Street, Statesboro, AL (912) 489-4529
Listing date Sep 30, 2025
MLS# 171247
Listing URL
Copyright © 2026 West Alabama Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Income‑generating property with 6 of 7 units currently leased.
- Convenient location near downtown Tuscaloosa and Greensboro Avenue.
- Potential for increased rental income by updating the remaining unit.
- 3 updated units already generating $700/month each.
- Professionally managed, simplifying ownership.
- Rent rolls available for detailed financial review.
Overview
This multifamily property features seven units, each with one bedroom and one bathroom. Six of the seven units are currently leased. Three units have been updated and rent for $700 per month. The remaining four units have not been updated. The property is situated near downtown Tuscaloosa, just off Greensboro Avenue, and is currently professionally managed. The lot size is 0.44 acres, and the property size is 3,465 square feet. Rent rolls are available upon request.
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 | $54.5k | $15.72 |
| − Vacancy | −$3.4k | −$0.97 |
| EGI | $51.1k | $14.75 |
| − OpEx | −$23.0k | −$6.64 |
| NOI | $28.1k | $8.11 |
3,465 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$401.4K
$351.3K – $468.4K
NOI $28,101 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$832.7K
$728.6K – $971.5K
NOI $58,287 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Tuscaloosa
- County
- Tuscaloosa
- State
- Alabama
- Longitude
- -87.540687
- Latitude
- 33.183312
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Seven-unit multifamily property near downtown Tuscaloosa, Alabama.
Where is this apartment building located?
The property is located at 407 30th Place Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Income‑generating property with 6 of 7 units currently leased.; Convenient location near downtown Tuscaloosa and Greensboro Avenue.; Potential for increased rental income by updating the remaining unit.
