Decatur Multifamily Investment
1801 Glenn Street Decatur, AL 35603
For Sale
$600,000
MULTI_FAMILY - Decatur, AL
Property Size6,624 SF
Lot Size0.36 Acres
Price / SF$90.58
Days on Market116
Property Features for 1801 Glenn Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
10
Patio and Porch features
Patio
Exterior features
Curb/Gutters
Appliances
Oven, Refrigerator, Dishwasher, W/D Hookup, Electric Water Heater
Standard status
Active
Size
6,624 SF
Lot size
0.36 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1988
Floors in Building
2
Number of units
5
Listing Agency:
Southern Oak Properties, Inc
(256) 350-2424
Listed By:
Blake Wright · License #88094
(256) 345-5900
Added: Apr 6
Changed: Jul 28
Last Checked: Jul 30 at 5:06AM
MLS# 21908754
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Investment Insights
Based on property information with market context.
This investment opportunity in Decatur, Alabama, features five townhouses located right off the Beltline, near shopping and restaurants. The five townhouses are individual deeded lots to be sold together. The property consists of five parcel ID#'s: 02-07-36-3-000-073.000, 02-07-36-3-000-074.000, 02-07-36-3-000-075.000, 02-07-36-3-000-076.000, and 02-07-36-3-000-077.000. The total property size is 6624 square feet. Current rents are $1025 per month for the 3-bedroom unit at 1801 Glenn Street, $800 per month for the 2-bedroom unit at 1803 Glenn Street, $1250 per month for the 3-bedroom unit at 1805 Glenn Street, $950 per month for the 2-bedroom unit at 1807 Glenn Street, and $800 per month for the 3-bedroom unit at 1809 Glenn Street. Tenants are responsible for their own utilities. The owner maintains the lawn at all 5 units. The property is being sold as is.
Key Highlights
- Investment opportunity: Five individual deeded townhouses to be sold together.
- Prime location right off the Beltline in Decatur, near shopping and restaurants.
- Income‑generating: Currently rented with a total monthly income of $4825.
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 | $97.8k | $14.76 |
| − Vacancy | −$6.1k | −$0.92 |
| EGI | $91.7k | $13.84 |
| − OpEx | −$41.3k | −$6.23 |
| NOI | $50.4k | $7.61 |
6,624 SF · lease $14.76/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$720.6K
$630.5K – $840.7K
NOI $50,440 @ 7.0% cap · market cap 8.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,467 @ 7.0% cap · market cap 16.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Five townhouses near shopping and restaurants in Decatur, Alabama.
Where is this apartment building located?
The property is located at 1801 Glenn Street Decatur, AL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Investment opportunity: Five individual deeded townhouses to be sold together.; Prime location right off the Beltline in Decatur, near shopping and restaurants.; Income‑generating: Currently rented with a total monthly income of $4825.
