Five-Unit Apartment
907 Stevens Court NE Huntsville, AL 35801
907 Stevens Court NE, Huntsville, AL, 35801
$489,900
For Sale
$489,900
MULTI_FAMILY - Huntsville, AL
Property Size2,900 SF
Lot Size0.36 Acres
Price / SF$168.93
Days on Market12
Property Features for 907 Stevens Court NE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking
- 6
- Parking features
- Driveway
- Appliances
- Oven, Refrigerator
- Standard status
- Active
- APN
- 1309304002071000
- Size
- 2,900 SF
- Lot size
- 0.36 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1969
- Number of units
- 5
Listing Agency
Legend Realty
(256) 428-3780
3508 Memorial Parkway SW, Huntsville, AL
Listed by
Larry Barkley · License #96155
(256) 694-5944
Added: Jul 6 Checked: Jul 17 at 3:06 am
MLS# 21896992
Listing URL
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Investment Insights
Based on property information with market context.
This for-sale multifamily property is configured as a five-unit apartment building on a 0.36-acre lot. The unit mix includes one- and two-bedroom apartments, with approximate sizes ranging from about 700 to 1,000 square feet per unit. The asset is professionally managed and includes on-site parking for residents. The property is being sold as-is, where-is.
Located in one of Huntsville’s established rental corridors, the building is described as near 5 Points and minutes from downtown. The listing also notes convenient access to the medical district and major employers, supporting broad tenant appeal within the surrounding demand drivers.
For investors or owner-operators seeking a professionally managed, small-balance apartment building, this property offers a straightforward unit mix and on-site parking. The seller indicates consistent occupancy and a solid rental history, and financials are available upon request, including T12s for 2024 and 2025. The property may also be purchased individually or together with 905 Stevens Court and the adjacent parking parcel, providing an option to assemble additional housing and parking inventory.
Located in one of Huntsville’s established rental corridors, the building is described as near 5 Points and minutes from downtown. The listing also notes convenient access to the medical district and major employers, supporting broad tenant appeal within the surrounding demand drivers.
For investors or owner-operators seeking a professionally managed, small-balance apartment building, this property offers a straightforward unit mix and on-site parking. The seller indicates consistent occupancy and a solid rental history, and financials are available upon request, including T12s for 2024 and 2025. The property may also be purchased individually or together with 905 Stevens Court and the adjacent parking parcel, providing an option to assemble additional housing and parking inventory.
Key Highlights
- Five‑unit investment property with 1- and 2‑bedroom apartments
- Unit size range of approximately 700–1,000 SF per unit
- Central heating and central air conditioning
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 | $40.7k | $14.04 |
| − Vacancy | −$7.4k | −$2.56 |
| EGI | $33.3k | $11.48 |
| − OpEx | −$15.0k | −$5.17 |
| NOI | $18.3k | $6.32 |
2,900 SF · lease $14.04/SF/yr · vacancy 18.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$261.7K
$229.0K – $305.3K
NOI $18,318 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$755.2K
$660.8K – $881.0K
NOI $52,861 @ 7.0% cap · market cap 10.79%
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 - Five-unit income property offering one- and two-bedroom apartments with on-site parking and professional management.
Where is this apartment building located?
The property is located at 907 Stevens Court NE Huntsville, AL.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Five‑unit investment property with 1- and 2‑bedroom apartments; Unit size range of approximately 700–1,000 SF per unit; Central heating and central air conditioning
