Value-Add Multifamily
For Sale
$385,000
3208 Village Drive, Huntsville, AL 35805
Fully occupied multifamily property offered for sale with inspections scheduled after an accepted contract.
Property Size3,400 SF
Price / SF$113.24
Days on Market10
Property Features for 3208 Village Drive
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Multi Family Home
Occupancy
100%
Building Details
Building Size
3,400 SF
Year Built
1983
Listing Agency:
Gateway Al Realty Group LLC
(256) 509-2078
Listed By:
Len Johnson · License #40398
(256) 509-2078
Source:
Alabamaland
Added: Jul 22
Changed: Jul 25
Last Checked: Jul 31 at 12:45PM
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 Gateway Al Realty Group LLC
Investment Insights
Based on property information with market context.
This fully occupied, value-add multifamily property is being offered for sale. Inspections will be performed after an accepted contract, and offers must be accompanied by proof of funds and a pre-approval letter.
The property is located near the Research Park district, the University of Alabama college campus, and Redstone Arsenal.
The seller indicates the option for a package sale with up to 30 units at this time.
The property is located near the Research Park district, the University of Alabama college campus, and Redstone Arsenal.
The seller indicates the option for a package sale with up to 30 units at this time.
Key Highlights
- Fully occupied multifamily property
- Year built: 1983
- Inspections to be performed after accepted contract
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 | $47.7k | $14.04 |
| − Vacancy | −$8.7k | −$2.56 |
| EGI | $39.0k | $11.48 |
| − OpEx | −$17.6k | −$5.17 |
| NOI | $21.5k | $6.32 |
3,400 SF · lease $14.04/SF/yr · vacancy 18.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$306.8K
$268.5K – $357.9K
NOI $21,476 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$885.4K
$774.7K – $1.03M
NOI $61,975 @ 7.0% cap · market cap 16.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
Explore this area
Business Placement
Demographics for 35805, AL
23,189
Population
10,618
Households
2.2
Avg Household Size
31
Median Age
18%
College-Educated
78%
High-School Grad
9.2 sq mi
ZIP Area
2,521
Density / Sq Mi
$31,247
Median Household Income
$26,824
Median Earnings
$800
Median Rent
$108,200
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 - Fully occupied multifamily property offered for sale with inspections scheduled after an accepted contract.
Where is this multifamily property located?
The property is located at 3208 Village Drive Huntsville, AL.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Fully occupied multifamily property; Year built: 1983; Inspections to be performed after accepted contract
