Multifamily Property in Opportunity
For Sale
$175,000
4016 38th N Avenue, Birmingham, AL 35217
Multifamily property in Birmingham's opportunity zone, do not disturb tenants.
Property Size1,756 SF
Price / SF$99.66
Days on Market179
Property Features for 4016 38th N Avenue
General Information
Standard status
Active
Size
1,756 SF
Property subtype
Multi Family
Building Details
Year Built
1986
Listing Agency:
Keller Williams Realty Vestavia
(205) 243-8590
Listed By:
Ashleigh Timmerman · License #90358
(205) 243-8590
Source:
Exitrealty
Added: Feb 1
Changed: Jul 10
Last Checked: Jul 30 at 6:59AM
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 Keller Williams Realty Vestavia
Investment Insights
Based on property information with market context.
This multifamily property, encompassing 1756 square feet, is located in an opportunity zone. Please do not disturb the tenants.
Key Highlights
- Great property.
- Located in an opportunity zone.
- Year Built: 1986.
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 | $25.5k | $14.52 |
| − Vacancy | −$2.5k | −$1.41 |
| EGI | $23.0k | $13.11 |
| − OpEx | −$10.4k | −$5.90 |
| NOI | $12.7k | $7.21 |
1,756 SF · lease $14.52/SF/yr · vacancy 9.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$180.9K
$158.3K – $211.1K
NOI $12,663 @ 7.0% cap · market cap 7.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$412.2K
$360.7K – $480.9K
NOI $28,852 @ 7.0% cap · market cap 16.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
214
Businesses Nearby
Explore this area
Business Placement
Demographics for 35217, AL
12,891
Population
6,196
Households
2.1
Avg Household Size
39
Median Age
11%
College-Educated
78%
High-School Grad
17.7 sq mi
ZIP Area
728
Density / Sq Mi
$38,769
Median Household Income
$31,210
Median Earnings
$835
Median Rent
$113,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property in Birmingham's opportunity zone, do not disturb tenants.
Where is this multifamily property located?
The property is located at 4016 38th N Avenue Birmingham, AL.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Great property.; Located in an opportunity zone.; Year Built: 1986.
