Remodeled Multifamily with 10
606 706 N Alston Street Foley, AL 36535
606 706 N Alston Street, Foley, AL, 36535
$1,349,000
For Sale
$1,349,000
MULTI_FAMILY - Foley, AL
Property Size8,468 SF
Price / SF$159.31
Days on Market388
Property Features for 606 706 N Alston Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 20
- Bathrooms
- 10
- Rooms
- Bedroom 1, Bedroom 14, Bathroom 8, Bathroom 4, Bedroom 7, Bathroom 3, Bedroom 2, Bathroom 7, Bedroom 11, Bathroom 6, Bedroom 8, Bathroom 9, Bedroom 9, Bedroom 19, Bedroom 18, Bedroom 16, Bedroom 3, Bedroom 6, Bathroom 5, Bedroom 15, Bathroom 1, Bathroom 10, Bedroom 12, Bedroom 20, Bathroom 2, Bedroom 17, Bedroom 4, Bedroom 5, Bedroom 10, Bedroom 13
- Parking features
- On Street
- Fireplace
- 1
- Standard status
- Active
- APN
- 54-09-29-1-000-055.001
- Size
- 8,468 SF
Taxes and HOA fees
- Tax Description
- LOTS 7-8 BLK 20 MAGNOLIA SPRINGS LAND CO ADDN TO CITY OF FOLEY SUB 150' X 125' LOTS 1-6 BLK 20 MAGNOLIA SPRINGS LAND CO ADDN TO CITY OF FOLEY SUB BLK 20 LOTS 1-8 150' X 125' IRR LOTS 4-6 BLK 58 MAGNOLIA SPRINGS LAND CO ADD N TO FOLEY SEC 29-T7S-R4E RP575 PG643
Building Details
- Year built
- 1977
- Floors in Building
- 1
- Flooring type
- Vinyl
- Roof type
- Metal
- Architectural style
- Other
Listing Agency
RE/MAX Paradise
(251) 948-8000
26754 Canal Rd., Gulf Shores, AL
Listed by
Bob Shallow · License #13654-1
(251) 948-8888
Added: Jun 25, 2025 Checked: Jul 17 at 11:06 am
MLS# 381247
Listing URL
Copyright © 2026 Baldwin REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property includes 10 apartment units configured as two bedrooms and one bath. The building improvements were remodeled in 2022, including stainless appliances, wood-look vinyl flooring, fresh paint, butcher block kitchen islands, and in-unit laundry rooms. The property is held across three parcels: PPIN #396767, #72683, and #48020.
The parcels are located near each other in Foley, Alabama, with the remarks noting proximity to Highway 59 (one block off). The property is zoned B-1 (Local Business District). Residential use is no longer permitted under current zoning; however, the existing units are operating under legal non-conforming status, allowing continued residential occupancy. A zoning and rental information document from the City of Foley is referenced as being available, and buyers are advised to verify all information during due diligence.
The parcels are located near each other in Foley, Alabama, with the remarks noting proximity to Highway 59 (one block off). The property is zoned B-1 (Local Business District). Residential use is no longer permitted under current zoning; however, the existing units are operating under legal non-conforming status, allowing continued residential occupancy. A zoning and rental information document from the City of Foley is referenced as being available, and buyers are advised to verify all information during due diligence.
Key Highlights
- 10 total apartment units with 2 bedrooms and 1 bathroom each
- Remodeled in 2022 with stainless appliances, wood‑look vinyl flooring, fresh paint, and butcher block kitchen islands
- In‑unit laundry included and features a metal roof
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 | $132.1k | $15.60 |
| − Vacancy | −$6.6k | −$0.78 |
| EGI | $125.5k | $14.82 |
| − OpEx | −$56.5k | −$6.67 |
| NOI | $69.0k | $8.15 |
8,468 SF · lease $15.60/SF/yr · vacancy 5.00% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Multifamily property with 10 two-bedroom, one-bath units remodeled in 2022 across three parcels.
Where is this apartment building located?
The property is located at 606 706 N Alston Street 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 apartment units with 2 bedrooms and 1 bathroom each; Remodeled in 2022 with stainless appliances, wood‑look vinyl flooring, fresh paint, and butcher block kitchen islands; In‑unit laundry included and features a metal roof
