Multifamily Townhome
2905 East 12th Avenue Sheffield, AL 35660
2905 East 12th Avenue, Sheffield, AL, 35660
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For Sale
Contact for pricing
Redevelopment project with 18 renovated townhome-style units and separate utilities, plus additional on-site space for flexible uses.
Property Size7,110 SF
Price / SF$77.22
Days on Market53
Property Features for 2905 East 12th Avenue
General Information
- Standard status
- Active
- Size
- 7,110 SF
- Property subtype
- Multifamily, Mobile Home Park, Senior Living
Listing Agency
MarMac Real Estate
(203) 281-1716
Listed by
Melissa Goduti · License #000164903-0
Source
Crexi
Added: May 27 Checked: Jul 15 at 9:11 am
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
Investment Insights
Based on property information with market context.
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.
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.
Key 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
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
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
NOI $79,477 @ 7.0% cap · market cap 14.48%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Shady Court Tourist ...
Housing Complex
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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
