Multifamily Property Near Research
For Sale
$345,000
2211 Jonathan Drive, Huntsville, AL 35810
Built in 1979, this multifamily asset is positioned near major Huntsville-area institutional and employment destinations.
Property Size3,498 SF
Price / SF$98.63
Days on Market15
Property Features for 2211 Jonathan Drive
General Information
Standard status
Active
Size
3,498 SF
Total Parking Spaces
8
Property subtype
Multi Family Home
Building Details
Building Size
3,498 SF
Year Built
1979
Buildings
1
Units
4
Listing Agency:
Gateway Al Realty Group LLC
(256) 509-2078
Listed By:
Len Johnson · License #40398
(256) 509-2078
Source:
Alabamaland
Added: Jul 22
Changed: Aug 3
Last Checked: Aug 4 at 1:51PM
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 Gateway Al Realty Group LLC
Investment Insights
Based on property information with market context.
This multifamily property at 2211 Jonathan Drive in Huntsville was built in 1979. The offering is identified as an income-producing multifamily asset, with occupied units subject to inspection after an accepted contract. Property size is reported as 3,498.
The property is near the Research Park district, the University of Alabama college campus, and Redstone Arsenal, placing it within reach of established academic, employment, and institutional areas. The seller can also offer a package sale involving up to 30 units. Offers are required to include proof of funds and a pre-approval letter, with additional package-sale details available through the listing representative.
The property is near the Research Park district, the University of Alabama college campus, and Redstone Arsenal, placing it within reach of established academic, employment, and institutional areas. The seller can also offer a package sale involving up to 30 units. Offers are required to include proof of funds and a pre-approval letter, with additional package-sale details available through the listing representative.
Key Highlights
- Multifamily property built in 1979
- Reported property size of 3498
- Near the Research Park district
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 | $49.1k | $14.04 |
| − Vacancy | −$8.9k | −$2.56 |
| EGI | $40.2k | $11.48 |
| − OpEx | −$18.1k | −$5.17 |
| NOI | $22.1k | $6.32 |
3,498 SF · lease $14.04/SF/yr · vacancy 18.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$315.6K
$276.2K – $368.3K
NOI $22,095 @ 7.0% cap · market cap 6.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$910.9K
$797.0K – $1.06M
NOI $63,762 @ 7.0% cap · market cap 18.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
512
Businesses Nearby
Explore this area
Business Placement
Demographics for 35810, AL
29,976
Population
13,283
Households
2.3
Avg Household Size
38
Median Age
24%
College-Educated
85%
High-School Grad
28.1 sq mi
ZIP Area
1,067
Density / Sq Mi
$46,963
Median Household Income
$31,080
Median Earnings
$1,097
Median Rent
$126,100
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 - Built in 1979, this multifamily asset is positioned near major Huntsville-area institutional and employment destinations.
Where is this multifamily property located?
The property is located at 2211 Jonathan Drive Huntsville, AL.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Multifamily property built in 1979; Reported property size of 3498; Near the Research Park district
