Renovated 6-Unit Apartment
For Sale
$520,000
834 4th Terrace W, Birmingham, AL 35204
Each unit has separately metered utilities, with tenants responsible for electric, water, and sewer service.
Property Size6,240 SF
Days on Market117
Property Features for 834 4th Terrace W
General Information
Standard status
Active
Size
6,240 SF
Property subtype
Multifamily
Building Details
Building Size
6,240 SF
Year Built
1955
Listed By:
Jared Sluss · License #AL #000159867
(205) 615-0631
Source:
7s
Added: Jun 25
Changed: Oct 14
Last Checked: Oct 19 at 3:40AM
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 Jared Sluss
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Investment Insights
Based on property information with market context.
This 6,240-square-foot apartment building contains six units and was constructed in 1955. A recent renovation updated the windows, flooring, doors, electrical and plumbing systems, fixtures, paint, tile work, and masonry. The property also includes washer/dryer hookups and a metal roof installed four years ago.
All six units are occupied or pending move-in, with five rented through Section 8 and one planned for lease or signed RAFTA before closing. Electric, water, and sewer service are individually metered, and tenants pay those utilities. Located at 834 4th Terrace W in Birmingham’s Bush Hills neighborhood, the property also offers the option to convert units to three-bedroom, one-bath or three-bedroom, two-bath layouts in the future.
All six units are occupied or pending move-in, with five rented through Section 8 and one planned for lease or signed RAFTA before closing. Electric, water, and sewer service are individually metered, and tenants pay those utilities. Located at 834 4th Terrace W in Birmingham’s Bush Hills neighborhood, the property also offers the option to convert units to three-bedroom, one-bath or three-bedroom, two-bath layouts in the future.
Key Highlights
- 6,240 SF building with 6 apartment units
- Recent updates include windows, flooring, doors, electrical, plumbing, fixtures, paint, tile work, and masonry
- Metal roof is 4 years old
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,999
Cap Rate
8.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$899,980
$900.0K
Cap Rate 7%
$642,843
$642.8K
Cap Rate 9%
$499,989
$500.0K
Market Conditions
NOI Build-Up for 6,240 SF
Gross rent
$90.6K $14.52/SF
− Vacancy
−$8.8K −$1.41/SF
EGI
$81.8K $13.11/SF
− OpEx
−$36.8K −$5.90/SF
NOI
$45.0K $7.21/SF
Area
Birmingham, AL
Vacancy
9.70%
Lease Rate
$14.52 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$899,980
Cap Rate 7%
$642,843
Cap Rate 9%
$499,989
Alternative Uses
Best Use
Apartment 5plus
$642.8K
$562.5K – $750.0K
NOI $44,999 @ 7.0% cap · market cap 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,526 @ 7.0% cap · market cap 19.72%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
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Business Placement
Demographics for 35204, AL
9,271
Population
5,333
Households
1.7
Avg Household Size
43
Median Age
14%
College-Educated
83%
High-School Grad
5.0 sq mi
ZIP Area
1,854
Density / Sq Mi
$32,880
Median Household Income
$27,864
Median Earnings
$716
Median Rent
$81,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Each unit has separately metered utilities, with tenants responsible for electric, water, and sewer service.
Where is this apartment building located?
The property is located at 834 4th Terrace W Birmingham, 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: 6,240 SF building with 6 apartment units; Recent updates include windows, flooring, doors, electrical, plumbing, fixtures, paint, tile work, and masonry; Metal roof is 4 years old
