6-Studio Apartment
For Sale
$575,000
4009 Marie Avenue, Huntsville, AL 35816
MULTI_FAMILY - Huntsville, AL
Property Size2,797 SF
Lot Size0.34 Acres
Price / SF$205.58
Days on Market16
Property Features for 4009 Marie Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi Family, Industrial
Parking
11
Parking features
Off Street, Parking Lot
Patio and Porch features
Porch
Exterior features
Curb/Gutters
Appliances
Oven, Refrigerator
Subdivision
Fanning Manor
Elementary school
Sonnie Hereford
Middle school
Huntsville
High school
Huntsville
Directions
West On University Drive, Right On Independence Dr., Right On Marie Avenue, Property Is On The Right. No Signage.
Standard status
Active
APN
1408331002021.000
Size
2,797 SF
Lot size
0.34 Acres
Utilities
Sewer type
Public Sewer
Heating system
Varies by Unit (Heating), Wall Furnace, Electric (Heating)
Cooling system
Wall Unit(s), Central Air
Water source
Public
Building Details
Year built
1974
Floors in Building
1
Number of units
6
Listing Agency:
Gateway Al Realty Group LLC
(256) 509-2078
Listed By:
Len Johnson · License #40398
(256) 509-2078
Added: Jul 16
Changed: Jul 31
Last Checked: Jul 31 at 5:06PM
MLS# 21916856
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Investment Insights
Based on property information with market context.
Six-studio apartment building on a 0.3444-acre lot with approximately 2,797 square feet. The exterior includes curb/gutters and a porch, and the property provides off-street parking in a parking lot. Units include an oven and refrigerator, with heating that varies by unit and is provided via wall furnace and electric sources, plus wall unit cooling and central air.
The property was built in 1974. A roof replacement is listed as approximately 2018, and there is described as additional storage area possible onsite. On-site laundry is also referenced. Public water and public sewer service are available.
The listing notes that city approval is in place for AirBnB and short-term rentals, and that occupied units may be inspected after an accepted offer.
The property was built in 1974. A roof replacement is listed as approximately 2018, and there is described as additional storage area possible onsite. On-site laundry is also referenced. Public water and public sewer service are available.
The listing notes that city approval is in place for AirBnB and short-term rentals, and that occupied units may be inspected after an accepted offer.
Key Highlights
- Six studio apartments in approximately 2,797 SF on 0.3444 acres
- Roof replacement listed as approximately 2018
- Public water and public sewer service
Financial Insights For Apartment 5plus
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 | $39.3k | $14.04 |
| − Vacancy | −$7.1k | −$2.56 |
| EGI | $32.1k | $11.48 |
| − OpEx | −$14.5k | −$5.17 |
| NOI | $17.7k | $6.32 |
2,797 SF · lease $14.04/SF/yr · vacancy 18.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$252.4K
$220.9K – $294.5K
NOI $17,668 @ 7.0% cap · market cap 3.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$728.3K
$637.3K – $849.7K
NOI $50,984 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
Explore this area
Business Placement
Demographics for 35816, AL
15,035
Population
7,972
Households
1.9
Avg Household Size
28
Median Age
27%
College-Educated
88%
High-School Grad
5.1 sq mi
ZIP Area
2,948
Density / Sq Mi
$38,947
Median Household Income
$28,060
Median Earnings
$875
Median Rent
$114,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment building with six studio units, off-street parking, porch, and public water and sewer services.
Where is this apartment building located?
The property is located at 4009 Marie Avenue Huntsville, AL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Six studio apartments in approximately 2,797 SF on 0.3444 acres; Roof replacement listed as approximately 2018; Public water and public sewer service
