Multifamily Rental
For Sale
$1,670,000
1628 5th Avenue, Tuscaloosa, AL 35401
Residential, Tuscaloosa, AL
Property Size10,279 SF
Lot Size2.00 Acres
Price / SF$162.47
Days on Market105
Property Features for 1628 5th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
18
Bathrooms
12
Full bathrooms
10
Half bathrooms
2
Rooms
Bathroom 7, Bedroom 17, Bedroom 9, Bedroom 15, Bathroom 5, Bedroom 7, Bedroom 16, Bathroom 11, Bedroom 5, Bathroom 1, Bathroom 4, Bathroom 12, Bedroom 2, Bedroom 13, Bedroom 4, Bedroom 11, Bedroom 10, Bathroom 2, Bathroom 10, Bedroom 1, Bedroom 8, Bathroom 6, Bedroom 12, Bathroom 8, Bedroom 18, Bedroom 3, Bathroom 3, Bathroom 9, Bedroom 14, Bedroom 6
Parking features
Driveway
Interior features
BreakfastArea
Fireplace
1
Appliances
ElectricWaterHeater, GasWaterHeater
Subdivision
University Place
Elementary school
University Place
Middle school
University Place
High school
Central
Directions
Enter Forest Lake area from 15th St
Standard status
Active
APN
31-07-25-2-007-007.000
Size
10,279 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Description
Lot E 80' Lt. 9 & 10 In Blk 2 In University Place Subd
Legal Description
Lot E 80' Lt. 9 & 10 In Blk 2 In University Place Subd
Utilities
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Building materials
Brick, VinylSiding
Roof type
Shingle, Composition
Listing Agency:
Harwood Real Estate LLC
(205) 764-1637
Listed By:
Bonnie Trindade
(205) 886-8799
Added: May 21
Changed: Sep 2
Last Checked: Sep 2 at 2:06PM
MLS# 175393
Copyright © 2026 West Alabama Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily portfolio comprises six single-family homes with a combined 10,279 square feet on approximately 2 acres. The properties contain 18 bedrooms and 12 bathrooms, providing a substantial residential income configuration within one ownership package. Construction includes brick and vinyl siding, with central heating and central air, shingle and composition roofing, driveway parking, public water, and fireplaces. Individual interiors include breakfast areas, while water heating is provided by electric and gas systems.
The homes are positioned near one another at 1628 5th Avenue in Tuscaloosa, offering proximity to The University of Alabama campus. The surrounding university-oriented setting is identified as a source of student rental demand, with nearby campus amenities, dining, and entertainment noted in the property information.
The homes are positioned near one another at 1628 5th Avenue in Tuscaloosa, offering proximity to The University of Alabama campus. The surrounding university-oriented setting is identified as a source of student rental demand, with nearby campus amenities, dining, and entertainment noted in the property information.
Key Highlights
- Six single‑family homes offered as one multifamily portfolio
- 18 bedrooms and 12 bathrooms across the portfolio
- Combined building area of 10,279 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$83,362
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,667,240
$1.7M
Cap Rate 7%
$1,190,886
$1.2M
Cap Rate 9%
$926,244
$926.2K
Market Conditions
NOI Build-Up for 10,279 SF
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.
Gross rent
$161.6K $15.72/SF
− Vacancy
−$10.0K −$0.97/SF
EGI
$151.6K $14.75/SF
− OpEx
−$68.2K −$6.64/SF
NOI
$83.4K $8.11/SF
Area
Tuscaloosa, AL
Vacancy
6.20%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,667,240
Cap Rate 7%
$1,190,886
Cap Rate 9%
$926,244
Alternative Uses
Best Use
Apartment 5plus
$1.19M
$1.04M – $1.39M
NOI $83,362 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.47M
$2.16M – $2.88M
NOI $172,909 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
525
Businesses Nearby
Explore this area
Business Placement
Demographics for 35401, AL
41,852
Population
19,517
Households
2.1
Avg Household Size
26
Median Age
27%
College-Educated
85%
High-School Grad
40.1 sq mi
ZIP Area
1,044
Density / Sq Mi
$30,031
Median Household Income
$13,041
Median Earnings
$911
Median Rent
$141,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Six single-family residences near The University of Alabama campus with centralized ownership and established housing functionality.
Where is this multifamily property located?
The property is located at 1628 5th Avenue Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $1,670,000.
What are key features of this property?
This property features: Six single‑family homes offered as one multifamily portfolio; 18 bedrooms and 12 bathrooms across the portfolio; Combined building area of 10,279 square feet
