Lafayette Multifamily Investment
For Sale
$115,000
251 1ST Street NE, Lafayette, AL 36862
Multi-Family, LAFAYETTE, AL
Property Size2,800 SF
Lot Size2.06 Acres
Price / SF$41.07
Days on Market158
Property Features for 251 1ST Street NE
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Garage
Elementary school
EAST SIDE ELEMENTARY
Directions
Take U.S. Highway 431 North toward LaFayette and continue for approximately 14 miles. Turn left onto AL-50 West (also known as 9th Avenue SW or Veterans Memorial Parkway) and follow it for about 8.1 miles. Then, turn right onto 1st Street NE and continue for approximately 0.2 miles. The property at 251 1st Street NE will be on your left.
Subdivision
Outside Lee Co
Standard status
Active
Size
2,800 SF
Lot size
2.06 Acres
Building Details
Year built
1960
Floors in Building
1
Number of units
5
Listing Agency:
FIRST REALTY SALES
Listed By:
JESSICA STROUD
Added: Mar 25
Changed: Aug 19
Last Checked: Aug 29 at 7:06PM
MLS# 179580
Copyright © 2026 Lee County Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property package, situated on over 2 acres, includes multiple income-producing units. The property features a single-family home with 3 bedrooms and 1 bathroom. Adjacent to the single-family home is a duplex, offering two units, each with 2 bedrooms and 1 bathroom. At the rear of the property, located off the 4-lane road, are two garage apartments. The upper unit includes 1 bedroom and 1 bathroom, while the lower unit offers 3 bedrooms and 1 bathroom. In total, the property comprises 5 units, with a total of 11 bedrooms and 5 bathrooms. The property includes additional land between the structures, offering future development potential. The property size is 2800 square feet. The property is located in LAFAYETTE, AL.
Key Highlights
- Multiple income‑producing units: single‑family home, duplex, and two garage apartments, totaling 5 units.
- Significant acreage: sits on over 2 acres, offering potential for future development.
- High bedroom/bathroom count: includes a total of 11 bedrooms and 5 bathrooms across all units.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Explore this area
Business Placement
Demographics for 36862, AL
5,806
Population
3,130
Households
1.9
Avg Household Size
48
Median Age
15%
College-Educated
79%
High-School Grad
226.5 sq mi
ZIP Area
26
Density / Sq Mi
$39,510
Median Household Income
$36,778
Median Earnings
$642
Median Rent
$138,800
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 - Income-producing multifamily property with development potential on over 2 acres.
Where is this multifamily property located?
The property is located at 251 1ST Street NE Lafayette, AL.
What is the asking price?
The asking price for this property is $115,000.
What are key features of this property?
This property features: Multiple income‑producing units: single‑family home, duplex, and two garage apartments, totaling 5 units.; Significant acreage: sits on over 2 acres, offering potential for future development.; High bedroom/bathroom count: includes a total of 11 bedrooms and 5 bathrooms across all units.
