1614 Somerville Rd SE, Decatur, AL 35601
16-unit apartment building in Decatur, recently renovated and offering covered plus off-street parking under R-4 zoning.
- Added:
- Jun 20, 2026
- Days on Market:
- 8
- Last Refresh:
- Jun 24 at 1:59 am
Property Features for 1614 Somerville Rd SE
General Information
- Standard status
- Active
- Size
- 16,764 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1974
Listing office Gateway Alabama Realty Group, LLC (256) 429-9360
Listing date Jun 20, 2026
Source Crexi
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All listing content including descriptions, pricing, images are the copyrighted material of Gateway Alabama Realty Group, LLC
HighLights
- 16‑unit multifamily apartment complex in Decatur, AL
- 16,764 SF building built in 1974
- Recently renovated with upgrades and updates
- 93.8% occupancy rate
- R‑4 zoning
- Covered parking plus ample additional off‑street parking
Overview
The complex is located in Decatur, Alabama and sits within R-4 zoning. The offering is positioned to serve renters looking for a multifamily option in a central city setting, with access to local cultural and community destinations named in the remarks, including Wheeler National Wildlife Refuge, Old State Bank, and the Princess Theatre Center for the Performing Arts.
For tenants, the combination of renovated living spaces and on-site parking can help reduce daily friction associated with commuting and parking availability. For buyers, this property presents a straightforward 16-unit ownership structure with documented occupancy and established residential use under R-4 zoning. Operators seeking a maintained multifamily asset can evaluate the building’s renovation work, resident parking setup, and unit mix within the existing framework of the property.
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 | $247.4k | $14.76 |
| − Vacancy | −$15.3k | −$0.92 |
| EGI | $232.1k | $13.84 |
| − OpEx | −$104.4k | −$6.23 |
| NOI | $127.7k | $7.61 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Decatur
- County
- Morgan
- State
- Alabama
- Longitude
- -86.9720239
- Latitude
- 34.5802583
