Six-Unit Multifamily
500 Annapolis Ave Sheffield, AL 35660
For Sale
$275,000
MULTI_FAMILY - Sheffield, AL
Property Size3,079 SF
Lot Size0.17 Acres
Price / SF$89.31
Days on Market51
Property Features for 500 Annapolis Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Zoning
- 00 Commercial
- Parking features
- Alley, On Street
- Patio and Porch features
- Porch
- Exterior features
- None (ExteriorFeat)
- Standard status
- Active
- APN
- 07-08-28-4-015-012.000
- Size
- 3,079 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- LOT 6 BLK 105 SHEFFIELD 50 X 150 /DB 2020 PG 7073-7076 & DB 2025 PG 1926 (CONTRACT FOR DEED)
- Tax Annual Amount
- 410
Utilities
- Utilities
- Cable Available
- Heating system
- Electric (Heating)
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1920
- Flooring type
- Laminate, Vinyl
- Building materials
- Vinyl Siding
- Roof type
- Metal
- Additional Structures
- None
Listing Agency:
MarMac Real Estate - The Shoals
(256) 766-8499
Listed By:
Adam Wimberly · License #000109233
(256) 349-3638
Added: Jun 4
Changed: Jul 21
Last Checked: Jul 24 at 3:06PM
MLS# 529291
Copyright © 2026 Strategic MLS Alliance, INC. 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 six-unit apartment building is offered for sale as a residential income property. The property is described as 100% occupied, and each unit is separately metered with tenants paying their own utilities. The remarks also note that most capital expenditures were completed within the last five years, including a new roof, windows, vinyl siding, plumbing, appliances, and window units.
The subject property is located at 500 Annapolis Ave in Sheffield, Alabama, in Colbert County. The zoning is listed as “00 Commercial.”
Tenancy and rent details provided in the remarks include four units at $600 per month, one unit at $575 per month, and one unit at $515 per month.
The subject property is located at 500 Annapolis Ave in Sheffield, Alabama, in Colbert County. The zoning is listed as “00 Commercial.”
Tenancy and rent details provided in the remarks include four units at $600 per month, one unit at $575 per month, and one unit at $515 per month.
Key Highlights
- 6‑unit building 100% occupied with stated rents totaling $3,490/month
- Separately metered units with tenants paying their own utilities
- Updates within the last 5 years include new roof, windows, vinyl siding, plumbing, appliances, and window units
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 | $31.4k | $10.20 |
| − Vacancy | −$1.8k | −$0.59 |
| EGI | $29.6k | $9.61 |
| − OpEx | −$13.3k | −$4.32 |
| NOI | $16.3k | $5.28 |
3,079 SF · lease $10.20/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$232.4K
$203.4K – $271.2K
NOI $16,271 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$491.7K
$430.2K – $573.6K
NOI $34,418 @ 7.0% cap · market cap 12.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Foster Details
Car Dealership
FAQs
What type of property is this?
Apartment building - Six-unit apartment building with separate utilities metering and recent exterior and systems upgrades.
Where is this apartment building located?
The property is located at 500 Annapolis Ave Sheffield, AL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 6‑unit building 100% occupied with stated rents totaling $3,490/month; Separately metered units with tenants paying their own utilities; Updates within the last 5 years include new roof, windows, vinyl siding, plumbing, appliances, and window units
