Huntsville Multifamily Investment
3504 Penny Street SW Huntsville, AL 35805
3504 Penny Street SW, Huntsville, AL, 35805
$595,000
For Sale
$595,000
MULTI_FAMILY - Huntsville, AL
Property Size4,428 SF
Lot Size0.30 Acres
Price / SF$134.37
Days on Market147
Property Features for 3504 Penny Street SW
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 4
- Parking features
- Parking Lot
- Appliances
- Oven, Refrigerator, Dishwasher, Washer, Dryer, Disposal
- Standard status
- Active
- APN
- 1702103004003000
- Size
- 4,428 SF
- Lot size
- 0.30 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Electric (Heating), Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1960
- Number of units
- 4
Listing Agency
Capstone Realty LLC Huntsville
(256) 678-7045
3306 Governors Drive SW, Huntsville, AL
Listed by
Ben Nemec · License #100792
(256) 361-5593
Added: Feb 20 Checked: Jul 17 at 9:06 am
MLS# 21910296
Listing URL
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Investment Insights
Based on property information with market context.
This four-unit multifamily property, located on Penny Street in Huntsville, Alabama, presents an investment opportunity. The property is situated in close proximity to Redstone Arsenal, shopping, dining, and entertainment options, and is approximately five minutes from downtown Huntsville. The property has a total size of 4428 square feet and sits on a 0.3-acre lot. Recent updates include a new roof that is two years old. Unit A has been fully renovated with updated plumbing, plus a new washer and dryer that are two years old. Unit C features a new kitchen counter that is approximately 2.5 years old and a water heater that is approximately 1.5 years old. Unit B has two new windows that are two years old. Three units have new refrigerators that are between 1 and 2.5 years old.
Key Highlights
- Prime location: Minutes from Redstone Arsenal, shopping, dining, entertainment, and 5 minutes to downtown Huntsville.
- Strong rental potential in a high‑demand area.
- Turnkey investment opportunity.
Local Financial Insights For Multifamily LT 5
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 | $55.8k | $12.60 |
| − Vacancy | −$9.6k | −$2.18 |
| EGI | $46.1k | $10.42 |
| − OpEx | −$13.8k | −$3.13 |
| NOI | $32.3k | $7.30 |
4,428 SF · lease $12.60/SF/yr · vacancy 17.29% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$461.5K
$403.8K – $538.4K
NOI $32,302 @ 7.0% cap · market cap 5.43%
Second Best
Apartment 5plus
$399.6K
$349.6K – $466.2K
NOI $27,970 @ 7.0% cap · market cap 4.70%
Theoretical Best
Office A
$1.15M
$1.01M – $1.35M
NOI $80,714 @ 7.0% cap · market cap 13.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-unit property near Redstone Arsenal with recent updates.
Where is this quadplex located?
The property is located at 3504 Penny Street SW Huntsville, AL.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Prime location: Minutes from Redstone Arsenal, shopping, dining, entertainment, and 5 minutes to downtown Huntsville.; Strong rental potential in a high‑demand area.; Turnkey investment opportunity.
