Studio Apartment Income
For Sale
$575,000
4009 Marie Avenue, Huntsville, AL 35816
For sale 6 studio apartments with updated exterior and a roof installed in 2018.
Property Size2,797 SF
Price / SF$205.58
Days on Market91
Property Features for 4009 Marie Avenue
General Information
Standard status
Active
Size
2,797 SF
Property subtype
Multi Family Home
Building Details
Year Built
1974
Listing Agency:
Gateway Al Realty Group LLC
(256) 509-2078
Listed By:
Len Johnson · License #40398
(256) 509-2078
Source:
Alabamaland
Added: May 1
Changed: Jul 22
Last Checked: Jul 24 at 4:30PM
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 Gateway Al Realty Group LLC
Investment Insights
Based on property information with market context.
This for-sale multifamily property features 6 studio apartments totaling 2,797 square feet. The units include a layout with a pen (open) kitchen and an alcove designed for a dedicated bedroom area. The exterior has been refreshed, and the roof was installed in 2018 (approx.). The property also provides onsite storage area and an onsite laundry opportunity for potential additional income.
The seller notes that city approval supports AirBnB and short-term rental use, and that inspections of occupied units may be available after an accepted offer.
Current reported annual income is $56,820. The seller states seller financing may be possible and highlights potential to increase revenue through mid-term rentals.
The seller notes that city approval supports AirBnB and short-term rental use, and that inspections of occupied units may be available after an accepted offer.
Current reported annual income is $56,820. The seller states seller financing may be possible and highlights potential to increase revenue through mid-term rentals.
Key Highlights
- 6 studio apartments, 2,797 SF, built in 1974
- Strong current annual income of $56,820
- City‑approved for AirBnB and short‑term rentals
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
Current Use
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 - For sale 6 studio apartments with updated exterior and a roof installed in 2018.
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: 6 studio apartments, 2,797 SF, built in 1974; Strong current annual income of $56,820; City‑approved for AirBnB and short‑term rentals
