Renovated Triplex with Basement
New
For Sale
$400,000
1316 16th Street Ensley, Birmingham, AL 35218
Vacant three-unit property with renovated kitchens and bathrooms, hardwood floors, and distinct main-level and basement layouts.
Property Size2,836 SF
Price / SF$141.04
Days on Market7
Property Features for 1316 16th Street Ensley
General Information
Standard status
Active
Size
2,836 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Additional Details
Asking Price
$400,000
Building Details
Year Built
1910
Listing Agency:
SeBro Realty
Listed By:
Thomas Allen · License #119321
(205) 807-4132
Source:
Exprealty
Added: Sep 19
Changed: Sep 23
Last Checked: Sep 24 at 2:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SeBro Realty
Investment Insights
Based on property information with market context.
This 2,836 SF triplex contains three vacant units: two main-level apartments with 2BR/1BA and 1BR/1BA layouts, plus a 2BR/1BA basement apartment measuring 830 SF. Kitchens and bathrooms have been renovated. The main-level units feature 12-foot ceilings, hardwood flooring, and tile in the kitchens and baths, while the basement includes 8-foot ceilings and concrete floors. Built in 1910, the property also provides street parking and a rear common area with a weeping willow.
Located at 1316 16th Street Ensley in Birmingham, Alabama, the property offers a three-unit configuration with existing interior improvements and all units currently vacant.
Located at 1316 16th Street Ensley in Birmingham, Alabama, the property offers a three-unit configuration with existing interior improvements and all units currently vacant.
Key Highlights
- Three‑unit triplex totaling 2,836 SF
- Main level includes 2BR/1BA and 1BR/1BA units, each approximately 1,003 SF
- 830 SF basement unit with a 2BR/1BA layout
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,845
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$436,900
$436.9K
Cap Rate 7%
$312,071
$312.1K
Cap Rate 9%
$242,722
$242.7K
Market Conditions
NOI Build-Up for 2,836 SF
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.
Gross rent
$34.4K $12.12/SF
− Vacancy
−$3.2K −$1.12/SF
EGI
$31.2K $11.00/SF
− OpEx
−$9.4K −$3.30/SF
NOI
$21.8K $7.70/SF
Area
Birmingham, AL
Vacancy
9.21%
Lease Rate
$12.12 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$436,900
Cap Rate 7%
$312,071
Cap Rate 9%
$242,722
Alternative Uses
Best Use
Multifamily LT 5
$312.1K
$273.1K – $364.1K
NOI $21,845 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$292.2K
$255.6K – $340.9K
NOI $20,451 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$665.7K
$582.5K – $776.6K
NOI $46,597 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
536
Businesses Nearby
Explore this area
Business Placement
Demographics for 35218, AL
6,521
Population
3,274
Households
2
Avg Household Size
42
Median Age
9%
College-Educated
82%
High-School Grad
2.6 sq mi
ZIP Area
2,508
Density / Sq Mi
$30,966
Median Household Income
$22,331
Median Earnings
$897
Median Rent
$79,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Vacant three-unit property with renovated kitchens and bathrooms, hardwood floors, and distinct main-level and basement layouts.
Where is this triplex located?
The property is located at 1316 16th Street Ensley Birmingham, AL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Three‑unit triplex totaling 2,836 SF; Main level includes 2BR/1BA and 1BR/1BA units, each approximately 1,003 SF; 830 SF basement unit with a 2BR/1BA layout
