Leased Duplex Investment
403 HARWELL HILLS Street, Opelika, AL 36801
New
MULTI_FAMILY - OPELIKA, AL
Property size:
1,400 SFLot size:
0.31 AcresPrice / SF:
$160/SF- Added:
- Jun 12, 2026
- Days on Market:
- 2
- Last Refresh:
- Jun 13 at 7:06 pm
Property Features for 403 HARWELL HILLS Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Garage
- Standard status
- Active
- Size
- 1,400 SF
- Lot size
- 0.31 Acres
Utilities
- Heating system
- Electric (Heating)
- Cooling system
- Central Air, Electric
Building Details
- Year built
- 1977
- Floors in Building
- 1
- Number of units
- 2
Listing agent MEG BRANCH
Listing office FIRST REALTY SALES AL
Listing date Jun 12, 2026
MLS# 180983
Listing URL
Copyright © 2026 Lee County Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Duplex on 0.31 acre in Opelika, built in 1977
- Total 1,400 sq ft with both units currently leased through 7/26/27
- Unit A leased for $650; HVAC and water heater upgraded in 2021
- Unit B leased for $625; water heater upgraded in 2023
- Each unit includes a garage; no HOA fees
- Utilities: Electric heating and central air conditioning (electric)
Overview
This for-sale duplex in Opelika offers two separate, garage-equipped units within a single property. The total property size is 1,400 square feet, and the site is listed at 0.31 acres. Public remarks indicate both units are currently leased through 7/26/27 and are in good condition.
Each unit has had upgrades to key mechanical systems. Unit A is leased and had its HVAC and water heater upgraded in 2021. Unit B is leased and had its water heater upgraded in 2023.
For buyers seeking residential income property with established in-place tenants, this duplex presents a straightforward two-unit structure with recent improvements to reduce near-term mechanical concerns. The listing also notes there are no HOA fees. Subject to buyer due diligence, the property’s current leasing and documented upgrades support practical, operations-focused ownership.
Each unit has had upgrades to key mechanical systems. Unit A is leased and had its HVAC and water heater upgraded in 2021. Unit B is leased and had its water heater upgraded in 2023.
For buyers seeking residential income property with established in-place tenants, this duplex presents a straightforward two-unit structure with recent improvements to reduce near-term mechanical concerns. The listing also notes there are no HOA fees. Subject to buyer due diligence, the property’s current leasing and documented upgrades support practical, operations-focused ownership.
Local Financial Insights For Multifamily LT 5
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 | $18.5k | $13.20 |
| − Vacancy | −$1.4k | −$0.99 |
| EGI | $17.1k | $12.21 |
| − OpEx | −$5.1k | −$3.66 |
| NOI | $12.0k | $8.55 |
1,400 SF · lease $13.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$170.9K
$149.6K – $199.4K
NOI $11,966 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$159.9K
$139.9K – $186.6K
NOI $11,195 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$341.5K
$298.8K – $398.4K
NOI $23,902 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Bella Bundles
Cosmetic Store
Location Insight
- Map
- Local Demand
- City
- Opelika
- County
- Lee
- State
- Alabama
- Longitude
- -85.40975
- Latitude
- 32.649352
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Duplex with two leased units, garages, and recent HVAC and water-heater upgrades.
Where is this duplex located?
The property is located at 403 HARWELL HILLS Street Opelika, AL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Duplex on 0.31 acre in Opelika, built in 1977; Total 1,400 sq ft with both units currently leased through 7/26/27; Unit A leased for $650; HVAC and water heater upgraded in 2021
