Six-Unit Studio Apartment
For Sale
$595,000
4009 MARIE AVENUE, Huntsville, AL 35816
Residential Income, HUNTSVILLE, AL
Property Size2,797 SF
Price / SF$212.73
Days on Market182
Property Features for 4009 MARIE AVENUE
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
11
Parking features
Parking Lot, Off Street
Window features
Insulated Windows
Patio and Porch features
Porch
Appliances
Cooktop, 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
14-08-33-1-002-021.000
Size
2,797 SF
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2027
Tax Description
LOT 8 FANNING MANOR ADD PB 1PG 322
Tax Annual Amount
1863
Legal Description
LOT 8 FANNING MANOR ADD PB 1PG 322
Utilities
Heating system
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
Building materials
Brick
Listing Agency:
Gateway AL Realty Group LLC
Listed By:
Len Johnson · License #40398
(256) 509-2078
Added: May 1
Changed: Oct 29
Last Checked: Oct 29 at 10:06PM
MLS# 21916856
Copyright © 2026 ValleyMLS.Com,Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,797-square-foot brick apartment property contains six studio units. Built in 1974, it has updated interiors, a refreshed exterior, and a roof replaced around 2018. Wall and central air conditioning, electric wall furnaces, cooktops, and refrigerators are among the building’s features. The property also includes a porch, a storage area, and off-street parking.
The city permits Airbnb and other short-term rental use. Public water serves the property, and parking is provided in a lot and off the street.
The city permits Airbnb and other short-term rental use. Public water serves the property, and parking is provided in a lot and off the street.
Key Highlights
- Six studio apartments in a 2,797‑square‑foot building
- City‑approved Airbnb and short‑term rental use
- Brick construction; built in 1974
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,668
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$353,360
$353.4K
Cap Rate 7%
$252,400
$252.4K
Cap Rate 9%
$196,311
$196.3K
Market Conditions
NOI Build-Up for 2,797 SF
Gross rent
$39.3K $14.04/SF
− Vacancy
−$7.1K −$2.56/SF
EGI
$32.1K $11.48/SF
− OpEx
−$14.5K −$5.17/SF
NOI
$17.7K $6.32/SF
Area
Huntsville, AL
Vacancy
18.20%
Lease Rate
$14.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$353,360
Cap Rate 7%
$252,400
Cap Rate 9%
$196,311
Alternative Uses
Best Use
Apartment 5plus
$252.4K
$220.9K – $294.5K
NOI $17,668 @ 7.0% cap · market cap 2.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$728.3K
$637.3K – $849.7K
NOI $50,984 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
700
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Six studio residences offer a configuration suited to furnished and short-term rental use.
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 $595,000.
What are key features of this property?
This property features: Six studio apartments in a 2,797‑square‑foot building; City‑approved Airbnb and short‑term rental use; Brick construction; built in 1974
