22-Unit Apartment Building Investment
3701 - 3743 Wesley Drive, Montgomery, AL 36111
22-unit apartment building with renovation upside in Montgomery, Alabama.
Type:Multi Family
- Added:
- Nov 13, 2025
- Days on Market:
- 201
- Last Refresh:
- Apr 7 at 10:22 pm
Property Features for 3701 - 3743 Wesley Drive
General Information
- Standard status
- Active
- Property subtype
- Multi Family
Building Details
- Year Built
- 1963
Listing agent Jaquon Robinson License #0145018 (205) 440-2088
Listing office KW Montgomery (205) 440-2088
Listing date Nov 13, 2025
Source Exitrealty
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 KW Montgomery
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.
- Located in an Opportunity Zone, offering potential tax incentives.
- Large Units: Enjoy 1‑bedroom (900+ sq ft) and 2‑bedroom (1000+ sq ft) units with large patio/balconies.
- Courtyard provides a desirable amenity for residents.
Overview
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.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Montgomery
- County
- Montgomery
- State
- Alabama
- Longitude
- -86.2949225
- Latitude
- 32.3326176
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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.
