Quadplex With Updated
For Sale
$385,000
1502 Medland Road, Huntsville, AL 35816
Residential Income, Huntsville, AL
Property Size4,074 SF
Lot Size0.33 Acres
Price / SF$94.50
Days on Market93
Property Features for 1502 Medland Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Parking Lot
Appliances
Oven, Refrigerator, Dishwasher, W/D Hookup, Electric Water Heater
Subdivision
Executive Hills
Elementary school
Highland Elementary
Middle school
Mcnair
High school
Jemison
Directions
N On Sparkman Dr., Right Onto Bonnell Dr., Right Onto Medland Rd., Building Is On The Left
Standard status
Active
APN
1408283003046.000
Size
4,074 SF
Lot size
0.33 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
upscale cabinetry
large patio area and/or balcony
installed microwaves
Building Details
Year built
1984
Number of units
4
Listing Agency:
Gateway Al Realty Group LLC
Listed By:
Len Johnson · License #40398
(256) 509-2078
Added: Jul 22
Changed: Sep 7
Last Checked: Oct 22 at 5:06PM
MLS# 21924427
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Investment Insights
Based on property information with market context.
This 4,074-square-foot quadplex was built in 1984 and includes four residential units on a 0.3271-acre lot. The property offers central heating and cooling, public water and sewer, parking lot access, and unit features that include upscale cabinetry, installed microwaves, and large patio areas and/or balconies. Some appliances, including water heaters, were replaced in 2025 and 2026, and the roof was replaced in 2024.
The property is located near the Research Park district, University of Alabama college campus, and Redstone Arsenal. Existing appliance packages include ovens, refrigerators, dishwashers, electric water heaters, and washer/dryer hookups.
The property is located near the Research Park district, University of Alabama college campus, and Redstone Arsenal. Existing appliance packages include ovens, refrigerators, dishwashers, electric water heaters, and washer/dryer hookups.
Key Highlights
- Four‑unit property totaling 4,074 square feet
- New roof installed in 2024
- Some appliances, including water heaters, replaced in 2025 and 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,720
Cap Rate
7.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$594,400
$594.4K
Cap Rate 7%
$424,571
$424.6K
Cap Rate 9%
$330,222
$330.2K
Market Conditions
NOI Build-Up for 4,074 SF
Gross rent
$51.3K $12.60/SF
− Vacancy
−$8.9K −$2.18/SF
EGI
$42.5K $10.42/SF
− OpEx
−$12.7K −$3.13/SF
NOI
$29.7K $7.30/SF
Area
Huntsville, AL
Vacancy
17.29%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$594,400
Cap Rate 7%
$424,571
Cap Rate 9%
$330,222
Alternative Uses
Best Use
Multifamily LT 5
$424.6K
$371.5K – $495.3K
NOI $29,720 @ 7.0% cap · market cap 7.72%
Second Best
Apartment 5plus
$367.6K
$321.7K – $428.9K
NOI $25,734 @ 7.0% cap · market cap 6.68%
Theoretical Best
Office A
$1.06M
$928.3K – $1.24M
NOI $74,261 @ 7.0% cap · market cap 19.29%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
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Business Placement
Demographics for 35816, AL
15,035
Population
7,972
Households
1.9
Avg Household Size
28
Median Age
27%
College-Educated
88%
High-School Grad
5.1 sq mi
ZIP Area
2,948
Density / Sq Mi
$38,947
Median Household Income
$28,060
Median Earnings
$875
Median Rent
$114,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income property with central HVAC, patios or balconies, and public water and sewer service.
Where is this quadplex located?
The property is located at 1502 Medland Road Huntsville, AL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Four‑unit property totaling 4,074 square feet; New roof installed in 2024; Some appliances, including water heaters, replaced in 2025 and 2026
