Six-Unit Apartment
For Sale
$250,000
500 Annapolis Ave, Sheffield, AL 35660
MultiFamily, Sheffield, AL
Property Size3,079 SF
Lot Size0.17 Acres
Price / SF$81.20
Days on Market142
Property Features for 500 Annapolis Ave
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
00 Commercial
Parking features
Alley, On Street
Patio and Porch features
Porch
Exterior features
None (ExteriorFeat)
Lot features
Corner Lot
View
City
Elementary school
Sheffield
Middle school
Sheffield
High school
Sheffield
Directions
Head West on E 2nd St, turn right onto Annapolis Ave, Apartments on right
Subdivision
Colbert
Standard status
Active
APN
07-08-28-4-015-012.000
Size
3,079 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
LOT 6 BLK 105 SHEFFIELD 50 X 150 /DB 2020 PG 7073-7076 & DB 2025 PG 1926 (CONTRACT FOR DEED)
Tax Annual Amount
410
Legal Description
LOT 6 BLK 105 SHEFFIELD 50 X 150 /DB 2020 PG 7073-7076 & DB 2025 PG 1926 (CONTRACT FOR DEED)
Utilities
Utilities
Cable Available
Heating system
Electric (Heating)
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1920
Flooring type
Laminate, Vinyl
Building materials
Vinyl Siding
Roof type
Metal
Additional Structures
None
Listing Agency:
MarMac Real Estate - The Shoals
(256) 766-8499
Listed By:
Adam Wimberly
(256) 349-3638
Added: Jun 4
Changed: Sep 17
Last Checked: Oct 23 at 8:06PM
MLS# 529291
Copyright © 2026 Strategic MLS Alliance, 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 3,079-square-foot apartment building contains six units on a 0.17-acre parcel in Sheffield. The property was built in 1920 and features vinyl siding, a metal roof, porches, laminate and vinyl flooring, electric heating, and window-unit cooling. Each unit is separately metered, with tenants responsible for their own utilities. The building is 100% occupied and carries 00 Commercial zoning.
Recent improvements completed within the last 5 years include the roof, windows, vinyl siding, plumbing, appliances, and window units. Parking is available on the street and in the alley, while public water serves the property. Cable is available.
Recent improvements completed within the last 5 years include the roof, windows, vinyl siding, plumbing, appliances, and window units. Parking is available on the street and in the alley, while public water serves the property. Cable is available.
Key Highlights
- Six‑unit apartment building with 100% occupancy
- 3,079 square feet on a 0.17‑acre parcel
- Roof, windows, vinyl siding, plumbing, appliances, and window units updated within the last 5 years
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,271
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,420
$325.4K
Cap Rate 7%
$232,443
$232.4K
Cap Rate 9%
$180,789
$180.8K
Market Conditions
NOI Build-Up for 3,079 SF
Gross rent
$31.4K $10.20/SF
− Vacancy
−$1.8K −$0.59/SF
EGI
$29.6K $9.61/SF
− OpEx
−$13.3K −$4.32/SF
NOI
$16.3K $5.28/SF
Area
Colbert County, AL
Vacancy
5.80%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,420
Cap Rate 7%
$232,443
Cap Rate 9%
$180,789
Alternative Uses
Best Use
Apartment 5plus
$232.4K
$203.4K – $271.2K
NOI $16,271 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$491.7K
$430.2K – $573.6K
NOI $34,418 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
356
Businesses Nearby
Explore this area
Business Placement
Demographics for 35660, AL
9,434
Population
5,139
Households
1.8
Avg Household Size
40
Median Age
16%
College-Educated
88%
High-School Grad
6.2 sq mi
ZIP Area
1,522
Density / Sq Mi
$42,510
Median Household Income
$31,302
Median Earnings
$850
Median Rent
$129,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated building with separately metered units, public water, and a mix of laminate and vinyl flooring.
Where is this apartment building located?
The property is located at 500 Annapolis Ave Sheffield, AL.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Six‑unit apartment building with 100% occupancy; 3,079 square feet on a 0.17‑acre parcel; Roof, windows, vinyl siding, plumbing, appliances, and window units updated within the last 5 years
