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    185 La Rue Finis Leesburg, AL 35983

    For Sale
    Contact for pricing

    24-unit apartment building in Leesburg, Alabama, built in 2004.

    Property size:
    23,574 SF

    Property Features for 185 La Rue Finis

    General Information

    Size
    23,574 SF

    Building Details

    Year built
    2004

    Source: Andrew Agee Agent Andrew Agee

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Leesburg Multifamily Investment Opportunity

    Located in Leesburg, Alabama, Englewood is a 24-unit LIHTC property constructed in 2004. The 23,574 square foot building offers an opportunity to acquire a stabilized affordable housing asset. Subject to income and rent restrictions, the property benefits from consistent demand and limited local competition. The property is QC eligible but must remain in the program to preserve the existing HOME loan. The area surrounding the apartments offers a tranquil atmosphere, with easy access to recreational activities. Residents can enjoy the nearby Leesburg Historic District, or explore Weiss Lake for fishing and boating. With proximity to local dining and shopping, the apartments offer a relaxed setting for multifamily living. The property features modern design and construction, spacious floor plans, ample parking for residents and guests, and well-maintained landscaping. The property has potential for rent growth to achieve maximum rents. Revenue increases of 12.6% are expected in year 1. The property offers an average cash-on-cash return of nearly 15% on a five-year hold.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Gym & Fitness Wholesale Shop Auto Repair Shop Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Leesburg
    County
    Cherokee
    State
    Alabama
    Longitude
    -85.76045
    Latitude
    34.179583

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    FAQs

    What type of property is this?
    Apartment building - 24-unit apartment building in Leesburg, Alabama, built in 2004.
    Where is this apartment building located?
    The property is located at 185 La Rue Finis Leesburg, AL.
    What are key features of this property?
    This property features: - High Cash-on-Cash Return: Expect an average of nearly 15% on a five-year hold.; - Strong Revenue Growth: Anticipated 12.6% revenue increases in the first year.; - Stabilized Asset: This 24-unit LIHTC property offers solid in-place occupancy.
    (256) 653-0065
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    185 La Rue Finis Leesburg, AL 35983
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