Fully Renovated Triplex with 3
For Sale
$349,900
1742 17th N Street, Birmingham, AL 35204
Fully renovated triplex with three tenant-occupied units, offering immediate rental income and a mix of unit types.
Property Size2,430 SF
Price / SF$143.99
Days on Market105
Property Features for 1742 17th N Street
General Information
Standard status
Active
Size
2,430 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Year Built
1915
Tenancy
Multi
Listing Agency:
Town Square Realty
(205) 901-5896
Listed By:
Shane Harper
(205) 901-5896
Source:
Exitrealty
Added: Apr 29
Changed: Aug 8
Last Checked: Aug 11 at 6:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Town Square Realty
Investment Insights
Based on property information with market context.
This fully renovated triplex is configured as three separate residential units, each currently tenant-occupied. Unit 1 includes 1 bedroom and 1 bathroom plus an additional bonus den. Unit 2 offers 3 bedrooms and 2 bathrooms, providing a larger layout within the property. Unit 3 is a studio, rounding out the tenant mix with a more compact option. The property has modern updates throughout, supporting straightforward, turnkey ownership.
The property is located just minutes from downtown Birmingham and near City Walk and Protective Stadium. With a wide variety of dining and entertainment nearby, the area is positioned for day-to-day convenience for residents.
For investors or buyers looking for an income-producing residential asset, the combination of three unit types and current tenant occupancy can support an easier transition to ownership. The well-maintained, fully renovated condition may also appeal to tenants seeking updated interiors. This is a practical option for someone expanding a rental portfolio or stepping into multifamily ownership with a stabilized, occupied triplex.
The property is located just minutes from downtown Birmingham and near City Walk and Protective Stadium. With a wide variety of dining and entertainment nearby, the area is positioned for day-to-day convenience for residents.
For investors or buyers looking for an income-producing residential asset, the combination of three unit types and current tenant occupancy can support an easier transition to ownership. The well-maintained, fully renovated condition may also appeal to tenants seeking updated interiors. This is a practical option for someone expanding a rental portfolio or stepping into multifamily ownership with a stabilized, occupied triplex.
Key Highlights
- Fully renovated 1915 triplex with three tenant‑occupied units for income from day one
- Unit mix: 1BR/1BA plus bonus den (Unit 1), 3BR/2BA (Unit 2), and studio (Unit 3)
- All three units are tenant‑occupied, providing immediate rental income
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
$18,717
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
5.35%
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%
$374,340
$374.3K
Cap Rate 7%
$267,386
$267.4K
Cap Rate 9%
$207,967
$208.0K
Market Conditions
NOI Build-Up for 2,430 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
$29.5K $12.12/SF
− Vacancy
−$2.7K −$1.12/SF
EGI
$26.7K $11.00/SF
− OpEx
−$8.0K −$3.30/SF
NOI
$18.7K $7.70/SF
Area
Birmingham, AL
Vacancy
9.21%
Lease Rate
$12.12 /SF/Yr
Expense Ratio
30.00%
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%
$374,340
Cap Rate 7%
$267,386
Cap Rate 9%
$207,967
Alternative Uses
Best Use
Multifamily LT 5
$267.4K
$234.0K – $312.0K
NOI $18,717 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$250.3K
$219.1K – $292.1K
NOI $17,524 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$570.4K
$499.1K – $665.4K
NOI $39,926 @ 7.0% cap · market cap 11.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
234
Businesses Nearby
Explore this area
Business Placement
Demographics for 35204, AL
9,271
Population
5,333
Households
1.7
Avg Household Size
43
Median Age
14%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
1,854
Density / Sq Mi
$32,880
Median Household Income
$27,864
Median Earnings
$716
Median Rent
$81,600
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?
Triplex - Fully renovated triplex with three tenant-occupied units, offering immediate rental income and a mix of unit types.
Where is this triplex located?
The property is located at 1742 17th N Street Birmingham, AL.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Fully renovated 1915 triplex with three tenant‑occupied units for income from day one; Unit mix: 1BR/1BA plus bonus den (Unit 1), 3BR/2BA (Unit 2), and studio (Unit 3); All three units are tenant‑occupied, providing immediate rental income
