Renovated 10-Unit Multifamily
7735 RUGBY AVENUE Birmingham, AL 35206
7735 RUGBY AVENUE, Birmingham, AL, 35206
$599,900
For Sale
$599,900
MULTI_FAMILY - BIRMINGHAM, AL
Property Size6,500 SF
Price / SF$92.29
Days on Market333
Property Features for 7735 RUGBY AVENUE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Apartment
- Parking features
- On Street
- Standard status
- Active
- APN
- 23-00-14-2-023-002.001
Taxes and HOA fees
- Tax Description
- LOTS 19-A & 20-A BLK 2 RUGBY GARDENS 1ST ADD
Utilities
- Heating system
- Central
- Cooling system
- Central Air, Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1963
- Number of units
- 10
- Flooring type
- Laminate, Carpet - Full
- Building materials
- Brick
Listing Agency
RealtySouth-Homewood
(205) 407-4774
1690 Reese St, Chelsea, AL
Listed by
Brandy Herschbach
(205) 253-5244
Added: Aug 20, 2025 Checked: Jul 18 at 1:06 am
MLS# 21428771
Listing URL
Copyright © 2026 Greater Alabama MLS. 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 property is a 10-unit multifamily building offering spacious 2-bedroom, 1-bath apartment homes. The units average approximately 650 square feet each. According to the current marketing materials, several units have been fully renovated, and the remaining units are part of a manageable mix to support consistent tenant appeal.
Located at 7735 Rugby Avenue in Birmingham, Alabama, the asset is positioned in the Eastlake/Woodlawn area. The offering states that 8 of the 10 units are currently leased, with rents ranging from $600 to $625 per month.
For buyers seeking a residential income property with an established in-place occupancy profile, this building provides a straightforward unit mix and a portion of renovated apartments. The combination of existing leases and ongoing renovation in select units may support a practical path for continued property management and tenant retention, based on the information provided.
Located at 7735 Rugby Avenue in Birmingham, Alabama, the asset is positioned in the Eastlake/Woodlawn area. The offering states that 8 of the 10 units are currently leased, with rents ranging from $600 to $625 per month.
For buyers seeking a residential income property with an established in-place occupancy profile, this building provides a straightforward unit mix and a portion of renovated apartments. The combination of existing leases and ongoing renovation in select units may support a practical path for continued property management and tenant retention, based on the information provided.
Key Highlights
- 10‑plex multifamily property in the Eastlake/Woodlawn area of Birmingham
- 2 bed, 1 bath units averaging 650 SF each
- 8 of 10 units currently leased; rents range from $600–$625 per month
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 | $94.4k | $14.52 |
| − Vacancy | −$9.2k | −$1.41 |
| EGI | $85.2k | $13.11 |
| − OpEx | −$38.4k | −$5.90 |
| NOI | $46.9k | $7.21 |
6,500 SF · lease $14.52/SF/yr · vacancy 9.70% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$669.6K
$585.9K – $781.2K
NOI $46,874 @ 7.0% cap · market cap 7.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.53M
$1.33M – $1.78M
NOI $106,798 @ 7.0% cap · market cap 17.80%
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 - Two-bedroom, one-bath apartments with partial renovations and current leasing in Birmingham’s Eastlake/Woodlawn area.
Where is this apartment building located?
The property is located at 7735 RUGBY AVENUE Birmingham, AL.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 10‑plex multifamily property in the Eastlake/Woodlawn area of Birmingham; 2 bed, 1 bath units averaging 650 SF each; 8 of 10 units currently leased; rents range from $600–$625 per month
