Renovated
For Sale
$385,000
3208 Village Drive, Huntsville, AL 35805
Four residential units received interior and exterior improvements in 2022.
Property Size3,400 SF
Price / SF$113.24
Days on Market101
Property Features for 3208 Village Drive
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Multi Family
Site & Location
Neighborhood
Triana Village
Building Details
Building Size
3,400 SF
Year Built
1983
Year Renovated
2022
Listing Agency:
Gateway Al Realty Group LLC
Listed By:
Len Johnson · License #40398
(256) 509-2078
Source:
Intownpartners
Added: Jul 22
Changed: Oct 27
Last Checked: Oct 27 at 3:41AM
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
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Investment Insights
Based on property information with market context.
Built in 1983, this fourplex underwent renovations in 2022. Improvements included a new roof, exterior paint, landscaping, windows, kitchens, bathrooms, flooring, appliances, water heater, and HVAC units.
The property is near the Research Park district, the University of Alabama campus, and Redstone Arsenal.
The property is near the Research Park district, the University of Alabama campus, and Redstone Arsenal.
Key Highlights
- Fourplex built in 1983
- 2022 work included new kitchens, bathrooms, flooring, and appliances
- 2022 improvements included a new roof, windows, exterior paint, and landscaping
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,803
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$496,060
$496.1K
Cap Rate 7%
$354,329
$354.3K
Cap Rate 9%
$275,589
$275.6K
Market Conditions
NOI Build-Up for 3,400 SF
Gross rent
$42.8K $12.60/SF
− Vacancy
−$7.4K −$2.18/SF
EGI
$35.4K $10.42/SF
− OpEx
−$10.6K −$3.13/SF
NOI
$24.8K $7.30/SF
Area
Huntsville, AL
Vacancy
17.29%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$496,060
Cap Rate 7%
$354,329
Cap Rate 9%
$275,589
Alternative Uses
Best Use
Multifamily LT 5
$354.3K
$310.0K – $413.4K
NOI $24,803 @ 7.0% cap · market cap 6.44%
Second Best
Apartment 5plus
$306.8K
$268.5K – $357.9K
NOI $21,476 @ 7.0% cap · market cap 5.58%
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.
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Open Analytics
Location Intelligence
Trade Area within ½ mile
322
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units received interior and exterior improvements in 2022.
Where is this quadplex 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: Fourplex built in 1983; 2022 work included new kitchens, bathrooms, flooring, and appliances; 2022 improvements included a new roof, windows, exterior paint, and landscaping
