Renovated Quadplex Near Research
For Sale
$385,000
3208 Village Drive, Huntsville, AL 35805
Residential Income, Huntsville, AL
Property Size3,400 SF
Lot Size0.39 Acres
Price / SF$113.24
Days on Market78
Property Features for 3208 Village Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
8
Parking features
Parking Lot
Appliances
W/D Hookup
Subdivision
Village Crossing
Elementary school
Mcdonnell
Middle school
Whitesburg
High school
Grissom High School
Directions
South On Triana Blvd, Right Onto Village Dr., Building Is On The Right
Standard status
Active
APN
1705151003040.000
Size
3,400 SF
Lot size
0.39 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1983
Number of units
4
Listing Agency:
Gateway Al Realty Group LLC
(256) 509-2078
Listed By:
Len Johnson · License #40398
(256) 429-9360
Added: Jul 22
Changed: Sep 7
Last Checked: Oct 7 at 9:06PM
MLS# 21924474
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Investment Insights
Based on property information with market context.
This quadplex contains 3,400 square feet on a 0.3907-acre parcel and was built in 1983. The property is fully occupied and received substantial renovations in 2022, including a roof, exterior paint, landscaping, windows, kitchens, bathrooms, flooring, appliances, water heaters, and HVAC units. Each unit has access to washer and dryer hookups, while the property is served by central heating and central air conditioning.
The property is situated near the Research Park district, the University of Alabama college campus, and Redstone Arsenal. Additional site features include a parking lot, public water service, and public sewer.
The property is situated near the Research Park district, the University of Alabama college campus, and Redstone Arsenal. Additional site features include a parking lot, public water service, and public sewer.
Key Highlights
- Fully occupied quadplex with 3,400 square feet
- 2022 updates include roof, windows, kitchens, baths, floors, appliances, water heaters, and HVAC units
- Built in 1983 on a 0.3907‑acre parcel
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.
Property Analytics
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Current Use
Lease Details
100%
Occupancy
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied residential income property with central HVAC, parking, and public water and sewer service.
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: Fully occupied quadplex with 3,400 square feet; 2022 updates include roof, windows, kitchens, baths, floors, appliances, water heaters, and HVAC units; Built in 1983 on a 0.3907‑acre parcel
