Value-Add Multifamily Near
603 18th Street Tuscaloosa, AL 35401
603 18th Street, Tuscaloosa, AL, 35401
$250,000
For Sale
$250,000
Multifamily investment offering proximity to University of Alabama campus and potential for renovation-based rent improvements.
Property Size1,100 SF
Price / SF$227.27
Days on Market37
Property Features for 603 18th Street
General Information
- Standard status
- Active
- Size
- 1,100 SF
- Property subtype
- Multi Family
Listing Agency
Keller Williams Tuscaloosa
(601) 618-4474
Listed by
Edwin Odems
(601) 618-4474
Source
Exitrealty
Added: Jun 12 Checked: Jul 17 at 4:11 am
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 Tuscaloosa
Investment Insights
Based on property information with market context.
This multifamily property at 603 18th Street is offered for sale as a residential income asset suited for investors who want to apply light rehab and operational adjustments. With an approximate property size of 1,100, the opportunity is positioned around creating additional value through strategic renovations and rent optimization, supported by its current role as a rental property.
The property is described as being just minutes from the University of Alabama campus, placing it within a practical commuting distance for student-oriented housing demand. The remarks also note proximity to everyday conveniences such as dining and shopping, which can support tenant access and reduce friction for prospective renters.
For buyers and brokers evaluating income-producing real estate, this offering may fit best for a buy-and-hold approach or a light renovation strategy where the goal is to improve the property’s presentation and align rents with the market. Investors seeking a manageable multifamily asset close to campus may find the location and value-add framing particularly relevant when underwriting renovation scope and rent assumptions. All prospective buyers are encouraged to review the property details and permitted uses with their advisors prior to making an investment decision.
The property is described as being just minutes from the University of Alabama campus, placing it within a practical commuting distance for student-oriented housing demand. The remarks also note proximity to everyday conveniences such as dining and shopping, which can support tenant access and reduce friction for prospective renters.
For buyers and brokers evaluating income-producing real estate, this offering may fit best for a buy-and-hold approach or a light renovation strategy where the goal is to improve the property’s presentation and align rents with the market. Investors seeking a manageable multifamily asset close to campus may find the location and value-add framing particularly relevant when underwriting renovation scope and rent assumptions. All prospective buyers are encouraged to review the property details and permitted uses with their advisors prior to making an investment decision.
Key Highlights
- Multifamily investment offering proximity to the University of Alabama campus (just minutes away)
- Renovation‑based rent improvement strategy described for potential rent optimization
- Located near dining and shopping alongside campus amenities
Local 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 | $17.3k | $15.72 |
| − Vacancy | −$1.1k | −$0.97 |
| EGI | $16.2k | $14.75 |
| − OpEx | −$7.3k | −$6.64 |
| NOI | $8.9k | $8.11 |
1,100 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$127.4K
$111.5K – $148.7K
NOI $8,921 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$264.3K
$231.3K – $308.4K
NOI $18,504 @ 7.0% cap · market cap 7.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Multifamily properties
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FAQs
What type of property is this?
Multifamily property - Multifamily investment offering proximity to University of Alabama campus and potential for renovation-based rent improvements.
Where is this multifamily property located?
The property is located at 603 18th Street Tuscaloosa, 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: Multifamily investment offering proximity to the University of Alabama campus (just minutes away); Renovation‑based rent improvement strategy described for potential rent optimization; Located near dining and shopping alongside campus amenities
