3-Home Multifamily
For Sale
$289,000
14119 County Road 49, Foley, AL 36535
Three mobile homes include two rented units, plus a barn and a separate building with industrial laundry equipment.
Property Size3,236 SF
Lot Size1.64 Acres
Price / SF$89.31
Days on Market58
Property Features for 14119 County Road 49
General Information
Standard status
Active
Size
3,236 SF
Lot size
1.64 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1991
Tenancy
Multi
Listing Agency:
Terri T Realty
Listed By:
Randall Allen · License #68588
(251) 202-7057
Source:
Coastalalabamahomesforsale
Added: Aug 18
Changed: Oct 6
Last Checked: Oct 7 at 4:24PM
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 Terri T Realty
Investment Insights
Based on property information with market context.
This multifamily property spans approximately 1.64 acres and includes three mobile homes. Two homes are rented, while the third is occupied by the seller. Additional improvements include a small barn with an attached finished room and a 30-by-25-foot metal building equipped with industrial laundry machines.
The property is outside the city limits in the county and was unzoned at the time of listing. The Alabama Gulf Coast beaches are described as a short drive away. The property, structures, and included equipment are offered as-is, where-is, without warranties. Showings are by appointment with an agent present.
The property is outside the city limits in the county and was unzoned at the time of listing. The Alabama Gulf Coast beaches are described as a short drive away. The property, structures, and included equipment are offered as-is, where-is, without warranties. Showings are by appointment with an agent present.
Key Highlights
- Approximately 1.64 acres with 3 mobile homes
- Two mobile homes are currently rented; the third is seller occupied
- 30’X25’ metal building includes industrial laundry machines
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,377
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$527,540
$527.5K
Cap Rate 7%
$376,814
$376.8K
Cap Rate 9%
$293,078
$293.1K
Market Conditions
NOI Build-Up for 3,236 SF
Gross rent
$50.5K $15.60/SF
− Vacancy
−$2.5K −$0.78/SF
EGI
$48.0K $14.82/SF
− OpEx
−$21.6K −$6.67/SF
NOI
$26.4K $8.15/SF
Area
Baldwin County, AL
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$527,540
Cap Rate 7%
$376,814
Cap Rate 9%
$293,078
Alternative Uses
Best Use
Apartment 5plus
$376.8K
$329.7K – $439.6K
NOI $26,377 @ 7.0% cap · market cap 9.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$778.2K
$680.9K – $907.9K
NOI $54,474 @ 7.0% cap · market cap 18.85%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Three mobile homes include two rented units, plus a barn and a separate building with industrial laundry equipment.
Where is this multifamily property located?
The property is located at 14119 County Road 49 Foley, AL.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Approximately 1.64 acres with 3 mobile homes; Two mobile homes are currently rented; the third is seller occupied; 30’X25’ metal building includes industrial laundry machines
