Apartment Complex Near Auburn
1500 E GLENN Avenue Auburn, AL 36830
1500 E GLENN Avenue, Auburn, AL, 36830
$2,300,000
For Sale
$2,300,000
Well-maintained 8-unit apartment complex near Auburn University.
Property Size8,108 SF
Price / SF$283.67
Days on Market157
Property Features for 1500 E GLENN Avenue
General Information
- Standard status
- Active
- Size
- 8,108 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1985
Listing Agency
THE PRIME REAL ESTATE GROUP
(334) 329-4993
Listed by
WILL REGISTER · License #111672
(334) 329-4993
Source
Exitrealty
Added: Feb 10 Checked: Jul 17 at 5:02 am
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 THE PRIME REAL ESTATE GROUP
Investment Insights
Based on property information with market context.
This well-maintained apartment complex is located minutes from Auburn University. Constructed in 1985, the property features 8 units. Each unit offers approximately 1,013 square feet and includes 2 bedrooms and 2 bathrooms. The property is positioned in a high-demand rental corridor with access to Tiger Transit and walkable proximity to campus. Residents have convenient access to shopping, dining, and major Auburn amenities. The property is zoned CDD/DDH, offering flexibility for continued residential use and potential future development. The property is suitable for investors seeking stable cash flow, long-term appreciation, and portfolio growth. The property's total size is 8,108 square feet. The property is located at 1500 E Glenn Avenue, Auburn, AL 36830.
Key Highlights
- Prime location near Auburn University with Tiger Transit access and walkable proximity to campus, ensuring high rental demand.
- Eight spacious units, each with 2 bedrooms and 2 bathrooms (approximately 1,013 sq ft), a highly desirable layout.
- Strong investment opportunity with potential for stable cash flow, long‑term appreciation, and portfolio growth.
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 | $126.5k | $15.60 |
| − Vacancy | −$8.6k | −$1.06 |
| EGI | $117.9k | $14.54 |
| − OpEx | −$53.0k | −$6.54 |
| NOI | $64.8k | $8.00 |
8,108 SF · lease $15.60/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$926.2K
$810.5K – $1.08M
NOI $64,836 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,425 @ 7.0% cap · market cap 6.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained 8-unit apartment complex near Auburn University.
Where is this apartment building located?
The property is located at 1500 E GLENN Avenue Auburn, AL.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Prime location near Auburn University with Tiger Transit access and walkable proximity to campus, ensuring high rental demand.; Eight spacious units, each with 2 bedrooms and 2 bathrooms (approximately 1,013 sq ft), a highly desirable layout.; Strong investment opportunity with potential for stable cash flow, long‑term appreciation, and portfolio growth.
