Renovated Apartment Income
For Sale
Contact for pricing
500 Tuscaloosa Ave, Birmingham, AL 35211
Twenty-unit apartment complex with all 2/1 units and 17 renovated units featuring new HVAC and tankless water heaters.
Property Size18,000 SF
Price / SF$94.39
Days on Market200
Property Features for 500 Tuscaloosa Ave
General Information
Standard status
Active
Size
18,000 SF
Class
C
Property subtype
Multifamily
Zoning
Residential
Occupancy
95%
Investment Type
Stabilized
Net Operating Income
$118,800
Site & Location
Neighborhood
Arlington - West End
Additional Details
Multifamily Units
20
Building Details
Year Built
1978
Buildings
1
Units
20
Tenancy
Single
Listing Agency:
First Class Realty Services, LLC
Listed By:
Shayla Dotson · License #AL 105931
(205) 225-1239
Source:
Crexi
Added: Apr 9
Changed: Oct 4
Last Checked: Oct 24 at 3:24PM
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 First Class Realty Services, LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
500 Tuscaloosa Ave is a 20-unit income-producing apartment complex in Birmingham, with all units configured as 2/1. Seventeen of the units have been fully renovated between 2022 and present, including updated interiors with new flooring, cabinetry, and appliances, as well as major system upgrades.
The renovated units have new HVAC systems and tankless water heaters, and the property includes washer and dryer connections in-unit. Current occupancy is primarily stabilized, with 19 income-producing units and 1 unit ready for lease or renovation completion. Two additional units are positioned for full renovation.
Current rent roll is approximately $16,500 per month, and professional management is in place.
The renovated units have new HVAC systems and tankless water heaters, and the property includes washer and dryer connections in-unit. Current occupancy is primarily stabilized, with 19 income-producing units and 1 unit ready for lease or renovation completion. Two additional units are positioned for full renovation.
Current rent roll is approximately $16,500 per month, and professional management is in place.
Key Highlights
- 20‑unit apartment complex (all 2/1 units) built in 1978 in Birmingham, AL
- 17 units renovated between 2022–present with updated interiors, new flooring, cabinetry, and appliances
- Renovated units include new HVAC systems and tankless water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$129,804
Cap Rate
7.64%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,596,080
$2.6M
Cap Rate 7%
$1,854,343
$1.9M
Cap Rate 9%
$1,442,267
$1.4M
Market Conditions
NOI Build-Up for 18,000 SF
Gross rent
$261.4K $14.52/SF
− Vacancy
−$25.4K −$1.41/SF
EGI
$236.0K $13.11/SF
− OpEx
−$106.2K −$5.90/SF
NOI
$129.8K $7.21/SF
Area
Birmingham, AL
Vacancy
9.70%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,596,080
Cap Rate 7%
$1,854,343
Cap Rate 9%
$1,442,267
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,804 @ 7.0% cap · market cap 7.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.22M
$3.70M – $4.93M
NOI $295,747 @ 7.0% cap · market cap 17.41%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
20
Residential units
Location Intelligence
Trade Area within ½ mile
984
Businesses Nearby
Explore this area
Business Placement
Demographics for 35211, AL
24,775
Population
14,302
Households
1.7
Avg Household Size
40
Median Age
23%
College-Educated
87%
High-School Grad
16.6 sq mi
ZIP Area
1,492
Density / Sq Mi
$34,286
Median Household Income
$29,742
Median Earnings
$1,044
Median Rent
$94,500
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 - Twenty-unit apartment complex with all 2/1 units and 17 renovated units featuring new HVAC and tankless water heaters.
Where is this apartment building located?
The property is located at 500 Tuscaloosa Ave Birmingham, AL.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: 20‑unit apartment complex (all 2/1 units) built in 1978 in Birmingham, AL; 17 units renovated between 2022–present with updated interiors, new flooring, cabinetry, and appliances; Renovated units include new HVAC systems and tankless water heaters
