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    15 Mimosa Dr Montgomery, AL 36109

    Sponsored
    For Sale
    $2,750,000

    Alabama rental homes, strong ROI.

    Property size:
    31,770 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 23-unit single-family rental portfolio presents a compelling value-add opportunity in Montgomery, Alabama. Located at 15 Mimosa Dr, Montgomery, AL 36109, this portfolio boasts a total of 31,770 square feet, currently achieving 95% occupancy. The properties, built in various years and renovated in 2024, offer a current NOI of $293,277 and a pro-forma NOI of $306,850, translating to a 10.66% cap rate and a pro-forma cap rate of 11.16%. The asking price is $2,750,000, or $119,565 per unit, and $86.56 per square foot. Tenants are primarily on Section 8 vouchers with annual leases. The portfolio benefits from a hands-on local management approach, and further renovations could significantly increase rental income. Montgomery's robust economy, driven by factors such as Hyundai manufacturing, Maxwell-Gunter Air Force Base, Amazon distribution centers, and the state capitol, creates a strong demand for rental housing. The city's strategic location in the Sun Belt, coupled with its business-friendly climate and low taxes, makes this an attractive investment for both local and national investors seeking exposure to a dynamic market with significant upside potential. The portfolio's tenants are responsible for lawn service and pest control, minimizing management overhead. This presents a unique opportunity to capitalize on the strong single-family rental market in Montgomery, Alabama, and leverage economies of scale for future growth.

    Property Features for 15 Mimosa Dr

    General Information

    Property type
    Multifamily properties
    Square Feet
    31,770 SF

    Building Details

    Year Renovated
    2024
    Units
    23
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Montgomery
    County
    Montgomery
    State
    Alabama
    Longitude
    -86.266042945835
    Latitude
    32.382053804087

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    FAQs

    What type of property is this?
    Multifamily property - Alabama rental homes, strong ROI.
    Where is this multifamily property located?
    The property is located at 15 Mimosa Dr Montgomery, AL.
    What is the asking price?
    The asking price for this property is $2,750,000.
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    15 Mimosa Dr Montgomery, AL 36109
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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
    15 Mimosa Dr Montgomery, AL 36109
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