Stylish Loft on Historic
For Sale
$239,900
2327 MORRIS AVENUE #3B, Birmingham, AL 35203
Furnished loft with historic charm, perfect for short-term rental.
Property Size1,039 SF
Days on Market503
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Property Features for 2327 MORRIS AVENUE #3B
General Information
Standard status
Active
Size
1,039 SF
Property subtype
Condominium
Amenities
Security System
Cooling: Heat Pump (COOL)
Heating: Heat Pump (HEAT)
Cooktop-Electric, Dishwasher Built-In, Microwave Built-In, Oven-Electric, Refrigerator, Self-Cleaning, Some Stainless Appl
Building Details
Building Size
1,039 SF
Year Built
1910
Listing Agency:
Keller Williams Realty
Listed By:
Jasper Cleage · License #134245
(205) 305-4780
Source:
Kw
Added: May 31, 2025
Changed: Oct 15
Last Checked: Oct 14 at 10:13PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This stylish loft, located on historic Morris Avenue, features over 1,000 square feet of downtown living space. The property includes one bedroom and one bathroom. It boasts soaring ceilings, exposed brick, and oversized windows that provide ample natural light. Renovated with modern style while retaining its historic charm, this third-floor unit features a sleek kitchen, a refreshed bathroom, and curated furnishings, all of which are included in the sale. The property is suitable for walkable city living, a low-maintenance retreat, or a turnkey investment. Currently, the unit operates as a successful short-term rental in a downtown Birmingham building with no short-term rental restrictions. It is being offered fully furnished and move-in-ready.
Key Highlights
- Fully furnished, move‑in‑ready loft with curated furnishings included.
- Successful short‑term rental with no STR restrictions.
- Seller offering up to $10,000 toward closing costs AND a 1‑year home warranty.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,493
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$149,860
$149.9K
Cap Rate 7%
$107,043
$107.0K
Cap Rate 9%
$83,256
$83.3K
Market Conditions
NOI Build-Up for 1,039 SF
Gross rent
$15.1K $14.52/SF
− Vacancy
−$1.5K −$1.41/SF
EGI
$13.6K $13.11/SF
− OpEx
−$6.1K −$5.90/SF
NOI
$7.5K $7.21/SF
Area
Birmingham, AL
Vacancy
9.70%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$149,860
Cap Rate 7%
$107,043
Cap Rate 9%
$83,256
Alternative Uses
Best Use
Apartment 5plus
$107.0K
$93.7K – $124.9K
NOI $7,493 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$243.9K
$213.4K – $284.5K
NOI $17,071 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
6,062
Businesses Nearby
Explore this area
Business Placement
Demographics for 35203, AL
3,595
Population
2,114
Households
1.7
Avg Household Size
37
Median Age
41%
College-Educated
83%
High-School Grad
2.1 sq mi
ZIP Area
1,712
Density / Sq Mi
$46,829
Median Household Income
$51,183
Median Earnings
$954
Median Rent
$288,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Short term rental property - Furnished loft with historic charm, perfect for short-term rental.
Where is this short term rental property located?
The property is located at 2327 MORRIS AVENUE #3B Birmingham, AL.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Fully furnished, move‑in‑ready loft with curated furnishings included.; Successful short‑term rental with no STR restrictions.; Seller offering up to $10,000 toward closing costs AND a 1‑year home warranty.
