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    Multifamily Townhome Redevelopment Title is generated by Realmo AI

    2905 East 12th Avenue, Sheffield, AL 35660

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    Redevelopment project with 18 renovated townhome-style units and separate utilities, plus additional on-site space for flexible uses.

    Type:Multifamily, Mobile Home Park, Senior Living
    Property size:
    7,110 SF
    Price / SF:
    $77/SF
    Added:
    May 27, 2026
    Days on Market:
    15
    Last Refresh:
    Jun 6 at 5:33 am

    Property Features for 2905 East 12th Avenue

    General Information

    Standard status
    Active
    Size
    7,110 SF
    Property subtype
    Multifamily, Mobile Home Park, Senior Living

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    Listing Contact
    Melissa Goduti
    Melissa Goduti

    Listing agent Melissa Goduti License #000164903-0

    Listing office MarMac Real Estate

    Listing date May 27, 2026

    Source Crexi

    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 MarMac Real Estate

    HighLights

    • Multifamily/townhome redevelopment project with 18 renovated townhome‑style units
    • Units have new windows, roofs, flooring, walls, and paint, plus efficiency‑style kitchen sinks and hot water heaters
    • Studio layouts include private showers, toilets, and closets
    • Rezoned for multifamily/townhome use, with each unit on its own permanent foundation
    • New utilities installed with separate meters for each unit
    • Additional on‑site space for an office, community room, or future laundry facility

    Overview

    This multifamily/townhome redevelopment offers 18 renovated townhome-style units that have already received new windows, roofs, flooring, walls, and paint. Unit improvements also include efficiency-style kitchen sinks and hot water heaters, along with studio layouts featuring private showers, toilets, and closets. Each unit is set on its own permanent foundation, and new utilities have been installed to support separate metering for individual units. In addition to the residential units, there is additional large space on-site that can support an office, a community room, or a future laundry facility.

    The property has been rezoned for multifamily/townhome use, aligning the project with its intended configuration. The offering is presented as a redevelopment opportunity to complete final touches. The property is sold as-is, with buyer responsibility to verify all information deemed important.

    For investors or operators looking to finish a conversion, the partially completed renovations, separate unit foundations, and individual metering provide a practical foundation for continuing the project. The extra on-site space adds versatility for common-area or service-oriented functions, subject to buyer plans and verification of all requirements. Contact the listing agent for available details on the redevelopment scope and renovation specifics.

    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 $72.5k $10.20
    − Vacancy −$4.2k −$0.59
    EGI $68.3k $9.61
    − OpEx −$30.7k −$4.32
    NOI $37.6k $5.28
    7,110 SF · lease $10.20/SF/yr · vacancy 5.80% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $536.8K
    $469.7K – $626.2K (±1% cap)
    NOI $37,574 @ 7.0% cap · market cap 6.84%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $1.14M
    $993.5K – $1.32M (±1% cap)
    NOI $79,477 @ 7.0% cap · market cap 14.48%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Shady Court Tourist ... Housing Complex

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Sheffield
    County
    Colbert
    State
    Alabama
    Longitude
    -87.683421
    Latitude
    34.763637

    FAQs

    What type of property is this?
    Apartment building - Redevelopment project with 18 renovated townhome-style units and separate utilities, plus additional on-site space for flexible uses.
    Where is this apartment building located?
    The property is located at 2905 East 12th Avenue Sheffield, AL.
    What is the asking price?
    The asking price for this property is $549,000.
    What are key features of this property?
    This property features: Multifamily/townhome redevelopment project with 18 renovated townhome‑style units; Units have new windows, roofs, flooring, walls, and paint, plus efficiency‑style kitchen sinks and hot water heaters; Studio layouts include private showers, toilets, and closets
    (203) 281-1716 Call to check price and availability
    More about this property
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