Multifamily Income
6312 COVINGTON VILLAS Drive Tuscaloosa, AL 35405
New
For Sale
$199,900
Freshened interior with new paint, offered for sale near I-59 for quick commuting access.
Property Size1,130 SF
Price / SF$176.90
Days on Market5
Property Features for 6312 COVINGTON VILLAS Drive
General Information
- Standard status
- Active
- Size
- 1,130 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 2001
Listing Agency:
REALTYSOUTH-TUSCALOOSA
(205) 394-4809
Listed By:
Carol Jackson
(205) 394-4809
Source:
Exitrealty
Added: Jul 20
Changed: Jul 21
Last Checked: Jul 23 at 9:12AM
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 REALTYSOUTH-TUSCALOOSA
Investment Insights
Based on property information with market context.
Offered for sale, this multifamily income property has been freshened with new paint and is presented in clean, updated condition. The property includes approximately 1,130 square feet of space, making it well-suited for buyers seeking a manageable residential income offering.
Located at 6312 Covington Villas Drive in Tuscaloosa, Alabama, the property is described as about one minute from I-59, providing convenient access for Vance commuters.
With recent interior updates and a practical size, this asset is being marketed as a value-focused purchase compared to higher-priced alternatives.
Located at 6312 Covington Villas Drive in Tuscaloosa, Alabama, the property is described as about one minute from I-59, providing convenient access for Vance commuters.
With recent interior updates and a practical size, this asset is being marketed as a value-focused purchase compared to higher-priced alternatives.
Key Highlights
- Year built: 2001
- Interior has been freshened up with new paint
- Located about 1 minute from I‑59 for commuting access
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 | $17.8k | $15.72 |
| − Vacancy | −$1.1k | −$0.97 |
| EGI | $16.7k | $14.75 |
| − OpEx | −$7.5k | −$6.64 |
| NOI | $9.2k | $8.11 |
1,130 SF · lease $15.72/SF/yr · vacancy 6.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$130.9K
$114.6K – $152.7K
NOI $9,164 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$271.5K
$237.6K – $316.8K
NOI $19,008 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
FAQs
What type of property is this?
Multifamily property - Freshened interior with new paint, offered for sale near I-59 for quick commuting access.
Where is this multifamily property located?
The property is located at 6312 COVINGTON VILLAS Drive Tuscaloosa, AL.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Year built: 2001; Interior has been freshened up with new paint; Located about 1 minute from I‑59 for commuting access
