Four-Unit Two-Story Apartment
For Sale
$355,000
Huntsville, AL 35816, Huntsville, AL 35816
Residential Income, Huntsville, AL
Property Size3,584 SF
Lot Size0.30 Acres
Price / SF$99.05
Days on Market66
Property Features
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
4
Parking features
Driveway, Parking Lot
Elementary school
Sonnie Hereford
Middle school
Huntsville
High school
Huntsville
Subdivision
Executive Hills
Standard status
Active
Size
3,584 SF
Lot size
0.30 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1984
Number of units
4
Listing Agency:
Independence Realty, LLC
Listed By:
Robert Taylor · License #81710
(256) 650-6262
Added: Aug 12
Changed: Oct 15
Last Checked: Oct 16 at 10:06AM
MLS# 21926279
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Investment Insights
Based on property information with market context.
The four-unit apartment property contains 3,584 square feet on a 0.3-acre parcel and was built in 1984. Each apartment’s living space spans two floors, linked by an interior stairway. The open layout brings the kitchen into the main living area. A 2025 roof replacement is in place, and the apartments are described as being in good repair.
Access to the upper-level entries is via a deck walkway, with stairs down to the surrounding grade. A concrete drive leads into the parking lot. Public water and public sewer serve the property.
Three apartments have tenants with more than a year of tenure each; Apartment B is being marketed for occupancy and is available for tours. Lease documents and tenant ledgers are available.
Access to the upper-level entries is via a deck walkway, with stairs down to the surrounding grade. A concrete drive leads into the parking lot. Public water and public sewer serve the property.
Three apartments have tenants with more than a year of tenure each; Apartment B is being marketed for occupancy and is available for tours. Lease documents and tenant ledgers are available.
Key Highlights
- Four‑unit apartment property with 3,584 square feet on 0.3 acres
- Built in 1984; roof replaced in 2025
- Three apartments have tenants with more than a year of tenure each
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,145
Cap Rate
7.36%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,900
$522.9K
Cap Rate 7%
$373,500
$373.5K
Cap Rate 9%
$290,500
$290.5K
Market Conditions
NOI Build-Up for 3,584 SF
Gross rent
$45.2K $12.60/SF
− Vacancy
−$7.8K −$2.18/SF
EGI
$37.4K $10.42/SF
− OpEx
−$11.2K −$3.13/SF
NOI
$26.1K $7.30/SF
Area
Huntsville, AL
Vacancy
17.29%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$522,900
Cap Rate 7%
$373,500
Cap Rate 9%
$290,500
Alternative Uses
Best Use
Multifamily LT 5
$373.5K
$326.8K – $435.8K
NOI $26,145 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$323.4K
$283.0K – $377.3K
NOI $22,639 @ 7.0% cap · market cap 6.38%
Theoretical Best
Office A
$933.3K
$816.6K – $1.09M
NOI $65,329 @ 7.0% cap · market cap 18.40%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
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Business Placement
Demographics for 35816, AL
15,035
Population
7,972
Households
1.9
Avg Household Size
28
Median Age
27%
College-Educated
88%
High-School Grad
5.1 sq mi
ZIP Area
2,948
Density / Sq Mi
$38,947
Median Household Income
$28,060
Median Earnings
$875
Median Rent
$114,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Apartments offer open-plan living areas that incorporate the kitchen, with interior stairways connecting two floors.
Where is this quadplex located?
The property is located at Huntsville, AL.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Four‑unit apartment property with 3,584 square feet on 0.3 acres; Built in 1984; roof replaced in 2025; Three apartments have tenants with more than a year of tenure each
