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Hoover Multifamily Investment Opportunity

3252 and 3246 Warringwood Dr, Hoover, AL 35216

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For Sale

$1,100,000

Well-maintained, renovated 8-unit multifamily property in desirable Hoover, AL.

Type:Multifamily

Property size:

10,176 SF

Price / SF:

$108/SF

HighLights

100% Occupancy provides a strong and reliable income stream.
Located in desirable Hoover, AL, a high‑demand rental market.
Significant Upside: Rent comparables are higher, presenting an opportunity to raise rents.
Recently renovated units with stainless steel appliances and LVP flooring.
Convenient access to Riverchase Galleria, Stadium Trace Village, The Summit, and other retail/dining options.
Low‑risk asset in a well‑established area, ideal for long‑term growth.

We can help!

Contact an agent

Richard McDonald

For Sale

$1,100,000

Well-maintained, renovated 8-unit multifamily property in desirable Hoover, AL.

Type:Multifamily

Property size:

10,176 SF

Price / SF:

$108/SF

Added:: Nov 21, 2025
Days on Market:: 225
Last Refresh:: May 9 at 1:25 am

Property Features for 3252 and 3246 Warringwood Dr

General Information

Standard status: Active
Size: 10,176 SF
Property subtype: Multifamily

Building Details

Year Built: 1970

We can help!

Contact an agent

Richard McDonald

Listing office

Listing date Nov 21, 2025

Source Svn

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 Richard McDonald

HighLights

100% Occupancy provides a strong and reliable income stream.
Located in desirable Hoover, AL, a high‑demand rental market.
Significant Upside: Rent comparables are higher, presenting an opportunity to raise rents.
Recently renovated units with stainless steel appliances and LVP flooring.
Convenient access to Riverchase Galleria, Stadium Trace Village, The Summit, and other retail/dining options.
Low‑risk asset in a well‑established area, ideal for long‑term growth.

Overview

Warringwood Apartments presents an investment opportunity in Hoover, AL. This multifamily property, constructed in 1970, contains 8 units within its 12,000 square feet. Recent renovations include stainless steel appliances and LVP flooring. The property is currently 100% occupied, providing a reliable income stream. Located in a desirable suburban submarket of Birmingham, this garden-style apartment community is suited for investors seeking stability and long-term growth in a high-demand rental market. The location in Hoover provides residents with access to schools, major employers, and retail and dining options. The property is located minutes from the Riverchase Galleria, Stadium Trace Village, and other commercial hubs. Hoover is a sought-after location for multifamily investment due to its proximity to major transportation routes and reputation for quality living. The location offers access to amenities and attractions, including shopping and dining at The Summit and Riverchase Galleria, and outdoor activities at Moss Rock Preserve and Aldridge Gardens. This location is near major employment centers and has potential for sustained growth and tenant demand.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$162.4k	$15.96
− Vacancy	−$21.1k	−$2.07
EGI	$141.3k	$13.89
− OpEx	−$63.6k	−$6.25
NOI	$77.7k	$7.64

10,176 SF · lease $15.96/SF/yr · vacancy 13.00% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.11M

$971.4K – $1.30M (±1% cap)

NOI $77,713 @ 7.0% cap · market cap 7.06%

Second Best

—

no second resolved use

Theoretical Best

Office A

$3.50M

$3.06M – $4.08M (±1% cap)

NOI $245,052 @ 7.0% cap · market cap 22.28%

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

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Hoover
County: Jefferson
State: Alabama
Longitude: -86.7942
Latitude: 33.4014

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For sale
Apartment buildings
AL
Hoover
35216
3252 and 3246 Warringwood Dr

What type of property is this?

Apartment building - Well-maintained, renovated 8-unit multifamily property in desirable Hoover, AL.

Where is this apartment building located?

The property is located at 3252 and 3246 Warringwood Dr Hoover, AL.

What is the asking price?

The asking price for this property is $1,100,000.

What are key features of this property?

This property features: 100% Occupancy provides a strong and reliable income stream.; Located in desirable Hoover, AL, a high‑demand rental market.; Significant Upside: Rent comparables are higher, presenting an opportunity to raise rents.