5-Unit Apartment
For Sale
$585,000
156-A DUDLEY LANE, Owens Cross Roads, AL 35763
Residential Income, OWENS CROSS ROADS, AL
Property Size3,588 SF
Lot Size2.40 Acres
Price / SF$163.04
Days on Market322
Property Features for 156-A DUDLEY LANE
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
10
Parking features
Parking Lot, Off Street, Driveway
Patio and Porch features
Deck
Interior features
Wired for Sound
Appliances
Dishwasher, Dryer, Electric Water Heater, Refrigerator, Cooktop, Washer
Subdivision
METES AND BOUNDS
Elementary school
OWENS CROSS ROADS
Middle school
NEW HOPE (K-12)
High school
NEW HOPE
Directions
431 S, Turn East on Hamer Rd, Turn North onto Dudley Ln. Turn West onto first access road, units are at back of property.
Standard status
Active
Size
3,588 SF
Lot size
2.40 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2026
Tax Description
SEC 20 T5 R2E COMM AT SE COR OF SW 1/4 OF SEC 20 TH N2E 674.61 FT & S88W 899.48 FT TO POB TH S88W 449.33 FT N1E 234.24 FT N87E 431.83 FT & S2E 236.75 FT TO POB
Tax Annual Amount
2033
Legal Description
SEC 20 T5 R2E COMM AT SE COR OF SW 1/4 OF SEC 20 TH N2E 674.61 FT & S88W 899.48 FT TO POB TH S88W 449.33 FT N1E 234.24 FT N87E 431.83 FT & S2E 236.75 FT TO POB
Utilities
Heating system
Central, Electric (Heating)
Cooling system
Central Air
Water source
Public
Water front features
Pond
Amenities
laundry room
washer/dryer combo units
Building Details
Year built
2002
Floors in Building
1
Number of units
5
Building materials
Block
Buildings
3
Listing Agency:
Endeavour Realty
(256) 384-4808
Listed By:
Lindsey Parker · License #122609
(256) 263-5451
Added: Dec 17, 2025
Changed: Nov 3
Last Checked: Nov 3 at 10:06PM
MLS# 21905930
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 3,588-square-foot apartment property contains five units: two separate freestanding residences and a triplex. The two standalone units each have two bedrooms and one bathroom. In the triplex, one apartment has one bedroom and one bathroom, while the other two each have two bedrooms and one bathroom. A dedicated laundry room with a washer and dryer serves the freestanding residences; each triplex apartment has its own washer-dryer combination unit.
The property occupies 2.4 acres and was built in 2002. Site features include a pond, deck areas, driveway and off-street parking. The buildings are block construction, with central electric heating and central air conditioning.
All five units are occupied, and residents are responsible for utilities. The units are served by two utility meters. Recent improvements include five new front porches, four new HVAC units, and new flooring in two apartments.
The property occupies 2.4 acres and was built in 2002. Site features include a pond, deck areas, driveway and off-street parking. The buildings are block construction, with central electric heating and central air conditioning.
All five units are occupied, and residents are responsible for utilities. The units are served by two utility meters. Recent improvements include five new front porches, four new HVAC units, and new flooring in two apartments.
Key Highlights
- Five units: two freestanding residences and a triplex
- 3,588 square feet on a 2.4‑acre site
- Unit mix includes four 2‑bedroom/1‑bath apartments and one 1‑bedroom/1‑bath apartment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,664
Cap Rate
3.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,280
$453.3K
Cap Rate 7%
$323,771
$323.8K
Cap Rate 9%
$251,822
$251.8K
Market Conditions
NOI Build-Up for 3,588 SF
Gross rent
$50.4K $14.04/SF
− Vacancy
−$9.2K −$2.56/SF
EGI
$41.2K $11.48/SF
− OpEx
−$18.5K −$5.17/SF
NOI
$22.7K $6.32/SF
Area
Madison County, AL
Vacancy
18.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,280
Cap Rate 7%
$323,771
Cap Rate 9%
$251,822
Alternative Uses
Best Use
Apartment 5plus
$323.8K
$283.3K – $377.7K
NOI $22,664 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$934.3K
$817.5K – $1.09M
NOI $65,402 @ 7.0% cap · market cap 11.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
42
Businesses Nearby
Explore this area
Business Placement
Demographics for 35763, AL
21,889
Population
7,281
Households
3
Avg Household Size
39
Median Age
58%
College-Educated
96%
High-School Grad
40.8 sq mi
ZIP Area
536
Density / Sq Mi
$125,356
Median Household Income
$66,305
Median Earnings
$2,455
Median Rent
$368,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Five residences include a mix of freestanding homes and a triplex, with laundry facilities serving all units.
Where is this apartment building located?
The property is located at 156-A DUDLEY LANE Owens Cross Roads, AL.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Five units: two freestanding residences and a triplex; 3,588 square feet on a 2.4‑acre site; Unit mix includes four 2‑bedroom/1‑bath apartments and one 1‑bedroom/1‑bath apartment
