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    Turnkey 20-Unit Duplex Community Title is generated by Realmo AI

    214 WILKERSON DRIVE, Anniston, AL 36201

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    For Sale
    $699,000

    MULTI_FAMILY - HOBSON CITY, AL

    Added:
    Jun 4, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 8 at 12:06 am

    Property Features for 214 WILKERSON DRIVE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    On Street
    Standard status
    Active
    APN
    21-04-19-1-003-085.000

    Taxes and HOA fees

    Tax Description
    Sec 19 Tsp 16S Rng 08E Wilkerson Hill Resub Blks 11 & 12 Th Omas Hgts Blk 4 Lots 6 Thru 9 & E 40 Ft Lot 10 Anniston

    Utilities

    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1950
    Number of units
    2
    Flooring type
    Vinyl
    Building materials
    Concrete/Block

    We can help!

    Listing Contact
    Sean Zweifel

    Listing agent Sean Zweifel

    Listing office EXIT Realty Birmingham 2808 7th Ave. S Suite 111, Birmingham, AL

    Listing date Jun 4, 2026

    MLS# 21454887 Listing URL

    Copyright © 2026 Greater Alabama MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 20‑unit apartment community built in 1950 on a parcel made up of 6 separate duplexes
    • Uniform 1‑bedroom/1‑bathroom layout across all 20 units, with a consistent floor plan throughout
    • Construction materials include concrete/block, with vinyl flooring in the units
    • Cooling provided via window unit(s); parking available in front of buildings or on the street
    • Separate water and electrical meters for the units
    • 14 units completed with new roofs, exterior doors and windows, plus vinyl plank flooring and tile showers

    Overview

    This multifamily property is a turnkey 20-unit apartment community arranged as 6 separate duplexes, with a consistent unit mix of one-bedroom, one-bathroom layouts. The floor plan is uniform across all 20 units, supporting straightforward maintenance and streamlined turnovers. Separate water and electrical meters serve the units. Improvements noted for the completed units include new roofs, exterior doors, and windows, and the finished interiors feature vinyl plank flooring with tile shower finishes.

    The property includes parking in the front of the buildings or along the street, and there is land in the back that may offer space for future development or expansion by the new owner. The address at 214 Wilkerson Drive is being sold together with 326 Wilkerson Drive, Hobson City, with parcels identified as 21-04-19-1-003-084.00 for 214 Wilkerson Drive. Because the parcels must be sold together, buyers should plan for both addresses as a combined opportunity.

    For investors or owner-operators looking for a manageable residential income portfolio, the combination of uniform 1-bedroom/1-bathroom configurations and the separately metered utility setup can help simplify operations. With 14 of the units listed as completed and multiple exterior improvements already underway, the property offers a practical path to continue completing and stabilizing the remaining units within the same duplex-based community layout.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Big Box & Wholesale Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Anniston
    County
    Calhoun
    State
    Alabama
    Longitude
    -85.834549
    Latitude
    33.622902

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    FAQs

    What type of property is this?
    Apartment building - Turnkey multifamily asset of 6 duplexes with separate utilities and multiple recently improved units.
    Where is this apartment building located?
    The property is located at 214 WILKERSON DRIVE Anniston, AL.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: 20‑unit apartment community built in 1950 on a parcel made up of 6 separate duplexes; Uniform 1‑bedroom/1‑bathroom layout across all 20 units, with a consistent floor plan throughout; Construction materials include concrete/block, with vinyl flooring in the units
    (720) 240-6786
    We can help!
    Listing Contact
    Sean Zweifel
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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