16-Unit Apartment
1614 SE SOMERVILLE ROAD, Decatur, AL 35601
For Sale
$1,440,000
Residential Income, DECATUR, AL
Property Size16,764 SF
Lot Size0.90 Acres
Price / SF$85.90
Days on Market88
Property Features for 1614 SE SOMERVILLE ROAD
General Information
Property type
Property subtype
Parking
Parking features
Patio and Porch features
Interior features
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Water source
Amenities
covered parking
Building Details
Year built
Number of units
Listing Agency:
Gateway AL Realty Group LLC
Listed By:
Len Johnson · License AL #40398
(256) 509-2078
Added: Aug 17
Changed: Nov 5
Last Checked: Nov 12 at 6:06AM
MLS# 21926730
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 16-unit apartment property contains 16,764 square feet across a 0.9-acre site. Built in 1974, the building has undergone renovations and is reported at 100% occupancy. R-4 zoning is in place.
Parking includes covered spaces and additional off-street parking. The property is located in Decatur, Alabama, and is served by public water.
Parking includes covered spaces and additional off-street parking. The property is located in Decatur, Alabama, and is served by public water.
Key Highlights
- 16,764‑square‑foot apartment property on 0.9 acres
- 16 apartment units; reported at 100% occupancy
- R‑4 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$127,653
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,553,060
$2.6M
Cap Rate 7%
$1,823,614
$1.8M
Cap Rate 9%
$1,418,367
$1.4M
Market Conditions
NOI Build-Up for 16,764 SF
Gross rent
$247.4K $14.76/SF
− Vacancy
−$15.3K −$0.92/SF
EGI
$232.1K $13.84/SF
− OpEx
−$104.4K −$6.23/SF
NOI
$127.7K $7.61/SF
Area
Morgan County, AL
Vacancy
6.20%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,553,060
Cap Rate 7%
$1,823,614
Cap Rate 9%
$1,418,367
Alternative Uses
Best Use
Apartment 5plus
$1.82M
$1.60M – $2.13M
NOI $127,653 @ 7.0% cap · market cap 8.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $244,137 @ 7.0% cap · market cap 16.95%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
16
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
944
Businesses Nearby
Explore this area
Business Placement
Demographics for 35601, AL
34,958
Population
15,168
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
77%
High-School Grad
26.5 sq mi
ZIP Area
1,319
Density / Sq Mi
$50,216
Median Household Income
$33,438
Median Earnings
$860
Median Rent
$148,100
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?
Apartment building - Fully occupied multifamily property with covered parking and additional off-street spaces.
Where is this apartment building located?
The property is located at 1614 SE SOMERVILLE ROAD Decatur, AL.
What is the asking price?
The asking price for this property is $1,440,000.
What are key features of this property?
This property features: 16,764‑square‑foot apartment property on 0.9 acres; 16 apartment units; reported at 100% occupancy; R‑4 zoning
