Four-Unit Apartment
New
For Sale
$250,000
2216 Jonathan Drive NW, Huntsville, AL 35810
Residential Income, Huntsville, AL
Property Size3,610 SF
Lot Size0.23 Acres
Price / SF$69.25
Days on Market2
Property Features for 2216 Jonathan Drive NW
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
4
Parking features
Driveway, Parking Lot
Patio and Porch features
Deck
Appliances
Oven, Refrigerator, Dishwasher
Subdivision
Lakewood Park
Elementary school
Lakewood
Middle school
Mcnair
High school
Jemison
Directions
Going N On Memorial Parkway U-Turn Just Before Mastin Lake Boulevard, 1st Right After U-Turn
Standard status
Active
APN
1406231001010.000
Size
3,610 SF
Lot size
0.23 Acres
Additional Details
Tenant in Place
Yes
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1979
Floors in Building
2
Number of units
4
Listing Agency:
Empire Property Management
(256) 507-7368
Listed By:
Julie Orth · License #100095
(256) 452-5170
Added: Oct 23
Last Checked: Oct 24 at 5:06PM
MLS# 21932498
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This four-unit residential property contains 3,610 square feet across four apartments, each configured with two bedrooms and one and a half bathrooms. Unit D has updated flooring and cabinets. Shared property features include a deck and parking, with driveway and parking-lot spaces. The building was constructed in 1979.
The apartments are served by public water and public sewer. Central heating and central air are installed, and the listed appliances include an oven, refrigerator, and dishwasher.
The apartments are served by public water and public sewer. Central heating and central air are installed, and the listed appliances include an oven, refrigerator, and dishwasher.
Key Highlights
- Four apartments, each with 2 bedrooms and 1.5 bathrooms
- 3,610 square feet on a 0.23‑acre lot
- Unit D features updated flooring and cabinets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,803
Cap Rate
9.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$456,060
$456.1K
Cap Rate 7%
$325,757
$325.8K
Cap Rate 9%
$253,367
$253.4K
Market Conditions
NOI Build-Up for 3,610 SF
Gross rent
$50.7K $14.04/SF
− Vacancy
−$9.2K −$2.56/SF
EGI
$41.5K $11.48/SF
− OpEx
−$18.7K −$5.17/SF
NOI
$22.8K $6.32/SF
Area
Huntsville, AL
Vacancy
18.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$456,060
Cap Rate 7%
$325,757
Cap Rate 9%
$253,367
Alternative Uses
Best Use
Multifamily LT 5
$376.2K
$329.2K – $438.9K
NOI $26,335 @ 7.0% cap · market cap 10.53%
Second Best
Apartment 5plus
$325.8K
$285.0K – $380.1K
NOI $22,803 @ 7.0% cap · market cap 9.12%
Theoretical Best
Office A
$940.0K
$822.5K – $1.10M
NOI $65,803 @ 7.0% cap · market cap 26.32%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
512
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence offers two bedrooms, one and a half baths, and central heating and cooling.
Where is this quadplex located?
The property is located at 2216 Jonathan Drive NW Huntsville, AL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and 1.5 bathrooms; 3,610 square feet on a 0.23‑acre lot; Unit D features updated flooring and cabinets
