Multifamily Apartment Portfolio with Four
217 8th Street SW, Decatur, AL 35601
New
MULTI_FAMILY - Decatur, AL
Property size:
14,976 SFLot size:
0.45 AcresPrice / SF:
$121/SF- Added:
- Jun 25, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 26 at 4:06 am
Property Features for 217 8th Street SW
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 36
- Parking features
- Off Street, Parking Lot
- Patio and Porch features
- Porch, Deck
- Appliances
- Oven, Refrigerator, Dishwasher, W/D Hookup, Electric Water Heater
- Standard status
- Active
- APN
- 03 09 30 1 002 017.000
- Size
- 14,976 SF
- Lot size
- 0.45 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central, Varies by Unit (Heating), Electric (Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1980
- Floors in Building
- 2
- Number of units
- 24
Listing agent Len Johnson License #40398 (256) 509-2078
Listing office Gateway Al Realty Group LLC 1200 Winner Ave, AL (256) 509-2078
Listing date Jun 25, 2026
MLS# 21908383
Listing URL
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HighLights
- Four six‑unit apartment buildings totaling 24 units with a mix of 1- and 2‑bedroom apartments
- Most HVAC systems and water heaters have been replaced; select units feature new cabinets and granite countertops
- Renovations include updated bathroom vanities and metal roofs across the buildings
- Each building layout: four 1‑bedroom units and two 2‑bedroom units
- Utilities: public water and public sewer; central air and central/electric heating with variations by unit
- On‑site off‑street parking with parking lot; each unit includes appliances such as an oven, refrigerator, and dishwasher
Overview
This for-sale multifamily portfolio consists of four separate six-unit apartment buildings, totaling 24 units. Each building is configured with four 1-bedroom units and two 2-bedroom units. Unit upgrades referenced in the offering include renovations such as new cabinets and granite countertops in some units, updated bathroom vanities, and other interior updates. The exterior and building systems also received improvements, including metal roofs. In addition, most HVAC systems and water heaters have been replaced, which can reduce near-term operating and maintenance concerns for an owner.
The property is located at 217 8th Street SW in Decatur, Alabama, in Morgan County. The site is listed at approximately 0.45 acres, supporting the group of four buildings within the same acquisition.
For buyers seeking an apartment portfolio with consistent unit mix and documented renovation and replacement work, this offering provides a straightforward structure of 24 units across four buildings. The seller notes the opportunity for value-add positioning, and the described upgrades offer a practical basis for an operator to manage the property and potentially align rents with refreshed unit interiors and modernized building systems. Showings are scheduled during inspection after contract and EMD, with a pre-approval lender letter and POF required with offers.
The property is located at 217 8th Street SW in Decatur, Alabama, in Morgan County. The site is listed at approximately 0.45 acres, supporting the group of four buildings within the same acquisition.
For buyers seeking an apartment portfolio with consistent unit mix and documented renovation and replacement work, this offering provides a straightforward structure of 24 units across four buildings. The seller notes the opportunity for value-add positioning, and the described upgrades offer a practical basis for an operator to manage the property and potentially align rents with refreshed unit interiors and modernized building systems. Showings are scheduled during inspection after contract and EMD, with a pre-approval lender letter and POF required with offers.
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 | $221.0k | $14.76 |
| − Vacancy | −$13.7k | −$0.92 |
| EGI | $207.3k | $13.84 |
| − OpEx | −$93.3k | −$6.23 |
| NOI | $114.0k | $7.61 |
14,976 SF · lease $14.76/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.63M
$1.43M – $1.90M
NOI $114,038 @ 7.0% cap · market cap 6.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.12M
$2.73M – $3.63M
NOI $218,098 @ 7.0% cap · market cap 11.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Decatur
- County
- Morgan
- State
- Alabama
- Longitude
- -86.9891916
- Latitude
- 34.5891203
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Four six-unit apartment buildings offer 1- and 2-bedroom units with recent interior and major mechanical upgrades.
Where is this apartment building located?
The property is located at 217 8th Street SW Decatur, AL.
What is the asking price?
The asking price for this property is $1,825,000.
What are key features of this property?
This property features: Four six‑unit apartment buildings totaling 24 units with a mix of 1- and 2‑bedroom apartments; Most HVAC systems and water heaters have been replaced; select units feature new cabinets and granite countertops; Renovations include updated bathroom vanities and metal roofs across the buildings
