Fully Occupied
609 Adelle Street Hartselle, AL 35640
New
For Sale
$400,000
MULTI_FAMILY - Hartselle, AL
Property Size3,000 SF
Lot Size0.32 Acres
Price / SF$133.33
Days on Market2
Property Features for 609 Adelle Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 8
- Parking features
- Parking Lot
- Standard status
- Active
- APN
- 15 05 15 1 014 006.000
- Size
- 3,000 SF
- Lot size
- 0.32 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1992
- Number of units
- 4
Listing Agency:
Gateway Al Realty Group LLC
(256) 509-2078
Listed By:
Len Johnson · License #40398
(256) 509-2078
Added: Jul 22
Last Checked: Jul 23 at 1:06PM
MLS# 21924485
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Investment Insights
Based on property information with market context.
This fully occupied quadplex at 609 Adelle Street offers a value-add focus, according to the seller. The property sits on a 0.32-acre lot and includes 3,000 square feet of total building area. The seller notes that inspections will be performed after an accepted contract, and offers should include proof of funds and a pre-approval letter.
The listing remarks indicate the property is located near the Research Park district, a University of Alabama college campus, and Redstone Arsenal. In addition to the standalone offering, the seller can consider a package sale with up to 30 units; contact the listing agent for package details.
The listing remarks indicate the property is located near the Research Park district, a University of Alabama college campus, and Redstone Arsenal. In addition to the standalone offering, the seller can consider a package sale with up to 30 units; contact the listing agent for package details.
Key Highlights
- Fully occupied property
- Built in 1992
- Central heating and central A/C
Financial Insights For Multifamily LT 5
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 | $37.8k | $12.60 |
| − Vacancy | −$2.5k | −$0.82 |
| EGI | $35.3k | $11.78 |
| − OpEx | −$10.6k | −$3.53 |
| NOI | $24.7k | $8.25 |
3,000 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$353.4K
$309.3K – $412.3K
NOI $24,740 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$326.3K
$285.6K – $380.7K
NOI $22,844 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$624.1K
$546.1K – $728.2K
NOI $43,690 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Fully occupied quadplex offered for sale at 609 Adelle Street, with inspections scheduled after contract acceptance.
Where is this quadplex located?
The property is located at 609 Adelle Street Hartselle, AL.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Fully occupied property; Built in 1992; Central heating and central A/C
