22-Unit Apartment Building Investment
3701 - 3743 Wesley Drive Montgomery, AL 36111
3701 - 3743 Wesley Drive, Montgomery, AL, 36111
$1,049,900
Pending
For Sale
$1,049,900
Pending
22-unit apartment building with renovation upside in Montgomery, Alabama.
Days on Market246
Property Features for 3701 - 3743 Wesley Drive
General Information
- Standard status
- Pending
- Property subtype
- Multi Family
Building Details
- Year Built
- 1963
Listing Agency
Norluxe Realty Montgomery
(205) 440-2088
Listed by
Jaquon Robinson · License #0145018
(205) 440-2088
Source
Exitrealty
Added: Nov 13, 2025 Checked: Jul 17 at 3:27 am
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 Norluxe Realty Montgomery
Investment Insights
Based on property information with market context.
This 22-unit apartment building presents an investment opportunity. Seventeen of the units have been fully renovated and are currently occupied by tenants, while five units remain to be remodeled. The property features one-bedroom units exceeding 900 square feet and two-bedroom units of 1,000 square feet, each with large patios or balconies. A courtyard provides residents with an outdoor space for relaxation. The unit mix includes three renovated one-bedroom, one-bath units; fifteen two-bedroom, one-bath units, twelve of which have been renovated; and four two-bedroom, two-bath units, with two having been renovated. The owner is responsible for water and trash expenses, with trash billed at $27 per can, as well as electricity costs for outdoor lighting. Two units sustained fire damage in 2025 and have not yet been renovated, and the roof of one building requires attention. Asbestos has been discovered in the drywall/sheetrock joint compound in the burned building. Due to the large unit sizes, there is potential to add an additional bedroom to each unit. Rents are currently below market rates based on the Montgomery Housing Authority's latest updates, with one-bedroom units renting for up to $932, two-bedroom units up to $1108, and three-bedroom units up to $1432. Additional value-add opportunities include adding a laundry facility and vending machines, and installing a new roof. The property is located in an Opportunity Zone, offering potential tax incentives.
Key Highlights
- Value‑add opportunity: Add bedrooms, thanks to large unit sizes (900‑1000 sq ft).
- Immediate Income: 17 of 22 units are renovated and tenant‑occupied.
- Significant Rental Upside: Raise rents to market rates.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 22-unit apartment building with renovation upside in Montgomery, Alabama.
Where is this apartment building located?
The property is located at 3701 - 3743 Wesley Drive Montgomery, AL.
What is the asking price?
The asking price for this property is $1,049,900.
What are key features of this property?
This property features: Value‑add opportunity: Add bedrooms, thanks to large unit sizes (900‑1000 sq ft).; Immediate Income: 17 of 22 units are renovated and tenant‑occupied.; Significant Rental Upside: Raise rents to market rates.
