Hoover Multifamily Investment
For Sale
$1,100,000
3252 and 3246 Warringwood Dr, Hoover, AL 35216
Well-maintained, renovated 8-unit multifamily property in desirable Hoover, AL.
Property Size10,176 SF
Price / SF$108.10
Days on Market327
Property Features for 3252 and 3246 Warringwood Dr
General Information
Standard status
Active
Size
10,176 SF
Property subtype
Multifamily
Building Details
Building Size
10,176 SF
Year Built
1970
Listed By:
Richard McDonald
(256) 668-2858
Source:
Svn
Added: Nov 21, 2025
Changed: Oct 11
Last Checked: Oct 12 at 7:02PM
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
Investment Insights
Based on property information with market context.
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.
Key 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,713
Cap Rate
7.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,554,260
$1.6M
Cap Rate 7%
$1,110,186
$1.1M
Cap Rate 9%
$863,478
$863.5K
Market Conditions
NOI Build-Up for 10,176 SF
Gross rent
$162.4K $15.96/SF
− Vacancy
−$21.1K −$2.07/SF
EGI
$141.3K $13.89/SF
− OpEx
−$63.6K −$6.25/SF
NOI
$77.7K $7.64/SF
Area
Jefferson County, AL
Vacancy
13.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,554,260
Cap Rate 7%
$1,110,186
Cap Rate 9%
$863,478
Alternative Uses
Best Use
Apartment 5plus
$1.11M
$971.4K – $1.30M
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
NOI $245,052 @ 7.0% cap · market cap 22.28%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,047
Businesses Nearby
Explore this area
Business Placement
Demographics for 35216, AL
36,673
Population
16,333
Households
2.2
Avg Household Size
35
Median Age
53%
College-Educated
94%
High-School Grad
13.0 sq mi
ZIP Area
2,821
Density / Sq Mi
$73,125
Median Household Income
$42,767
Median Earnings
$1,314
Median Rent
$376,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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.
