10-Unit Apartment
For Sale
$1,349,000
606 706 N Alston St, Foley, AL 36535
Fenced, single-story multifamily property with central electric service and on-street parking.
Property Size8,468 SF
Price / SF$159.31
Days on Market194
Property Features for 606 706 N Alston St
General Information
Standard status
Active
Size
8,468 SF
Property subtype
Multi-Family
Units
Unit Mix
10 x 2BR/1BA
Multifamily Units
10
Building Details
Year Built
1977
Listing Agency:
RE/MAX Paradise
Listed By:
Bob Shallow · License #136541
(251) 948-8888
Source:
Gulfcoasthomelistings
Added: Apr 18
Changed: Oct 25
Last Checked: Oct 28 at 8:27AM
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 RE/MAX Paradise
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Investment Insights
Based on property information with market context.
This single-story apartment property contains 10 units, with each apartment configured as a two-bedroom, one-bath residence. The building offers 8,468 square feet of property size and was constructed in 1977. Interior features include electric central service, while the exterior is fenced and includes on-street parking.
Key Highlights
- 10 total apartments
- Each unit includes two bedrooms and one bath
- 8,468 square feet of property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$69,023
Cap Rate
5.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,380,460
$1.4M
Cap Rate 7%
$986,043
$986.0K
Cap Rate 9%
$766,922
$766.9K
Market Conditions
NOI Build-Up for 8,468 SF
Gross rent
$132.1K $15.60/SF
− Vacancy
−$6.6K −$0.78/SF
EGI
$125.5K $14.82/SF
− OpEx
−$56.5K −$6.67/SF
NOI
$69.0K $8.15/SF
Area
Baldwin County, AL
Vacancy
5.00%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,380,460
Cap Rate 7%
$986,043
Cap Rate 9%
$766,922
Alternative Uses
Best Use
Apartment 5plus
$986.0K
$862.8K – $1.15M
NOI $69,023 @ 7.0% cap · market cap 5.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.78M – $2.38M
NOI $142,547 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
949
Businesses Nearby
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Business Placement
Demographics for 36535, AL
35,484
Population
18,755
Households
1.9
Avg Household Size
46
Median Age
26%
College-Educated
90%
High-School Grad
92.5 sq mi
ZIP Area
384
Density / Sq Mi
$67,013
Median Household Income
$41,574
Median Earnings
$1,168
Median Rent
$250,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fenced, single-story multifamily property with central electric service and on-street parking.
Where is this apartment building located?
The property is located at 606 706 N Alston St Foley, AL.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: 10 total apartments; Each unit includes two bedrooms and one bath; 8,468 square feet of property size
