Building Details

Year Built 1930

Listing Agency: RE/MAX Advantage Show Phone

Listed By: Cassie Carter · License #102067 Show Phone

Source: Exitrealty

Added: Jul 10 Changed: Sep 1 Last Checked: Sep 15 at 4:11AM

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Investment Insights

Based on property information with market context.

This vacant fourplex contains four residential units, including three one-bedroom, one-bath apartments and one two-bedroom, one-bath apartment. Interior updates include LVP flooring, newer lighting, fresh paint, and neutral finishes. Parking is positioned directly in front of the building, and the property has no HOA.

Built in 1930, the property is located minutes from I-65, shopping, dining, and Birmingham. Its vacant status allows a new owner to establish occupancy and begin leasing the units after closing, subject to the buyer’s verification of rental income potential and other material information.

Key Highlights

• Four‑unit multifamily property with three one‑bedroom units and one two‑bedroom unit
• All units are vacant and available for lease‑up
• Interiors feature LVP flooring, fresh paint, updated lighting, and neutral finishes

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,090

Cap Rate

6.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$361,800 $361.8K

Cap Rate 7%

$258,429 $258.4K

Cap Rate 9%

$201,000 $201.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,100 SF

Gross rent

$29.5K $14.04/SF

− Vacancy

−$3.6K −$1.73/SF

EGI

$25.8K $12.31/SF

− OpEx

−$7.8K −$3.69/SF

NOI

$18.1K $8.61/SF

Area

Jefferson County, AL

Vacancy

12.35%

Lease Rate

$14.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$361,800

Cap Rate 7%

$258,429

Cap Rate 9%

$201,000

Alternative Uses

Best Use

Multifamily LT 5

$258.4K

$226.1K – $301.5K (±1% cap)

NOI $18,090 @ 7.0% cap · market cap 6.05%

Second Best

Apartment 5plus

$229.1K

$200.5K – $267.3K (±1% cap)

NOI $16,037 @ 7.0% cap · market cap 5.36%

Theoretical Best

Office A

$722.4K

$632.1K – $842.9K (±1% cap)

NOI $50,571 @ 7.0% cap · market cap 16.91%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Quadplexes

Suggested Use

Top Pick Restaurant Real Estate Agency Auto Parts Store Big Box & Wholesale Store Hair Salon Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

84

Businesses Nearby

Explore this area Business Placement

Demographics for 35117, AL

6,407

Population

2,399

Households

2.7

Avg Household Size

43

Median Age

25%

College-Educated

91%

High-School Grad

29.1 sq mi

ZIP Area

220

Density / Sq Mi

$87,923

Median Household Income

$54,188

Median Earnings

$1,081

Median Rent

$195,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Quadplex - Three one-bedroom units and one two-bedroom unit feature updated finishes and direct parking access.

Where is this quadplex located?

The property is located at 606 Hartsfield Drive Mount Olive, AL.

What is the asking price?

The asking price for this property is $299,000.

What are key features of this property?

This property features: Four‑unit multifamily property with three one‑bedroom units and one two‑bedroom unit; All units are vacant and available for lease‑up; Interiors feature LVP flooring, fresh paint, updated lighting, and neutral finishes