4-Unit Multifamily
For Sale
$385,000
Pending
1502 MEDLAND ROAD, Huntsville, AL 35816
Residential Income, HUNTSVILLE, AL
Property Size4,074 SF
Days on Market101
Property Features for 1502 MEDLAND ROAD
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Parking Lot
Interior features
Wired for Sound
Appliances
Cooktop, Refrigerator, Dishwasher, 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
Pending
APN
14-08-28-3-003-046.000
Size
4,074 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 5 BLK 6 EXECUTIVE HILL 4TH SECTOR A RE S/D OF PART OF TR 1 OF EXECUTIVE HILL S/D PB 13 PG 25
Tax Annual Amount
4914
Legal Description
LOT 5 BLK 6 EXECUTIVE HILL 4TH SECTOR A RE S/D OF PART OF TR 1 OF EXECUTIVE HILL S/D PB 13 PG 25
Utilities
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: Oct 29
Last Checked: Oct 30 at 10:06AM
MLS# 21924427
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 4-unit multifamily property contains 4,074 square feet and was built in 1984. Improvements include a roof installed in 2024, cabinetry, installed microwaves, and patio and/or balcony space. Some appliances, including water heaters, were replaced in 2025 and 2026. The building has central heating and air conditioning, a parking lot, and public water service.
The property is near the Research Park district, the University of Alabama campus, and Redstone Arsenal. A package sale including as many as 30 units is available from the seller.
The property is near the Research Park district, the University of Alabama campus, and Redstone Arsenal. A package sale including as many as 30 units is available from the seller.
Key Highlights
- 4,074‑square‑foot, 4‑unit multifamily property
- 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.
How Realmo checks its estimates
Property Analytics
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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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Residents have access to patio and balcony outdoor space.
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: 4,074‑square‑foot, 4‑unit multifamily property; Roof installed in 2024; Some appliances, including water heaters, replaced in 2025 and 2026
