Renovated Multifamily
For Sale
$520,000
805 Main Street East, Hartselle, AL 35640
Recent work covers building systems and interior finishes, including kitchens, bathrooms, plumbing, and flooring.
Property Size3,075 SF
Price / SF$169.11
Days on Market270
Property Features for 805 Main Street East
General Information
Standard status
Active
Size
3,075 SF
Property subtype
Multi Family
Building Details
Building Size
3,075 SF
Year Renovated
2024
Listing Agency:
Capstone Realty
Listed By:
Mikah McDaniel · License #154287
(256) 309-1000
Source:
Intownpartners
Added: Feb 2
Changed: Oct 27
Last Checked: Oct 27 at 4:31AM
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 Capstone Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,075-square-foot multifamily property received substantial building and interior improvements in 2024. Work included a roof replacement, updated water heaters, new floor joists and subflooring, and new pier footings with masonry piers. The HVAC system dates to 2017. Plumbing upgrades include PEX water lines and PVC drain lines throughout the property.
Interior work refreshed the kitchens with updated appliances and cabinetry and renovated the bathrooms with new tubs, vanities, and toilets. Laminate flooring, interior paint, and light fixtures were also updated throughout.
Interior work refreshed the kitchens with updated appliances and cabinetry and renovated the bathrooms with new tubs, vanities, and toilets. Laminate flooring, interior paint, and light fixtures were also updated throughout.
Key Highlights
- 3,075‑square‑foot multifamily property
- Major upgrades completed in 2024, including roof replacement and updated water heaters
- HVAC system installed in 2017
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,415
Cap Rate
4.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,300
$468.3K
Cap Rate 7%
$334,500
$334.5K
Cap Rate 9%
$260,167
$260.2K
Market Conditions
NOI Build-Up for 3,075 SF
Gross rent
$45.4K $14.76/SF
− Vacancy
−$2.8K −$0.92/SF
EGI
$42.6K $13.84/SF
− OpEx
−$19.2K −$6.23/SF
NOI
$23.4K $7.61/SF
Area
Morgan County, AL
Vacancy
6.20%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$468,300
Cap Rate 7%
$334,500
Cap Rate 9%
$260,167
Alternative Uses
Best Use
Apartment 5plus
$334.5K
$292.7K – $390.3K
NOI $23,415 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$639.7K
$559.8K – $746.4K
NOI $44,782 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
252
Businesses Nearby
Explore this area
Business Placement
Demographics for 35640, AL
25,913
Population
11,023
Households
2.4
Avg Household Size
41
Median Age
25%
College-Educated
89%
High-School Grad
106.9 sq mi
ZIP Area
242
Density / Sq Mi
$69,686
Median Household Income
$43,844
Median Earnings
$767
Median Rent
$196,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Recent work covers building systems and interior finishes, including kitchens, bathrooms, plumbing, and flooring.
Where is this multifamily property located?
The property is located at 805 Main Street East Hartselle, AL.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: 3,075‑square‑foot multifamily property; Major upgrades completed in 2024, including roof replacement and updated water heaters; HVAC system installed in 2017
