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    618 4Th St Tuscaloosa, AL 35404

    Sponsored
    For Sale
    $1,300,000

    8 Houses, Redevelopment Potential

    Property size:
    9,061 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents eight single-family rental houses totaling 9,061 square feet on a 1.5-acre lot in Tuscaloosa, Alabama. Currently 63% occupied, this Class C property offers immediate cash flow with significant upside potential. Located less than a quarter-mile from the University of Alabama, the property benefits from high traffic counts on nearby McFarland Boulevard (46,632 AADT) and Jack Warner Parkway (22,548 AADT). The existing structures, built in 1945, are situated on a contiguous 1.23 acres (seven of eight houses) and are zoned R-4, permitting up to 15 units per acre. However, surrounding properties zoned RMF-1 boast much higher density, presenting a compelling opportunity for rezoning and redevelopment into a higher-density multifamily or student housing project. The asking price is $1,300,000, representing $143.47 per square foot and $162,500 per unit. The land alone is valued at $1,000,000 per acre. This property's location within an Opportunity Zone further enhances its investment appeal, offering potential tax advantages. The current owner has not actively pursued leasing the vacant units, leaving considerable room for increased occupancy and rental income. This presents a unique chance to acquire a cash-flowing asset with substantial growth potential through either improved management or strategic redevelopment.

    Property Features for 618 4Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    9,061 SF
    Class
    C
    Lot Size
    65,340 SF

    Building Details

    Year Built
    1945
    Buildings
    8
    Stories
    1
    Units
    8

    HighLights

    • Less than 0.25 miles from the University of Alabama.
    • Located in an Opportunity Zone.
    • High traffic counts on McFarland Blvd. (46,632 AADT) and Jack Warner Pkwy. (22,548 AADT).
    • Surrounded by multifamily and student housing.
    • Significant upside potential through lease‑up and rent increases.
    • Rezoning potential for higher‑density multifamily or student housing development.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Nail Salon Clothing Store Dental Office Auto Repair Shop Gym & Fitness Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tuscaloosa
    County
    Tuscaloosa
    State
    Alabama
    Longitude
    -87.5289922
    Latitude
    33.2201877

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    FAQs

    What type of property is this?
    Multifamily property - 8 Houses, Redevelopment Potential
    Where is this multifamily property located?
    The property is located at 618 4Th St Tuscaloosa, AL.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: Less than 0.25 miles from the University of Alabama.; Located in an Opportunity Zone.; High traffic counts on McFarland Blvd. (46,632 AADT) and Jack Warner Pkwy. (22,548 AADT).
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    618 4Th St Tuscaloosa, AL 35404
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