2005 Morgan Ave SW Decatur, AL 35601

Property Details for 2005 Morgan Ave SW

Property size

16,354 SF

Property type

Commercial real estate

Description

This exceptional investment opportunity presents a portfolio of five buildings comprising 18 apartment units and five parking pads, totaling 16,354 square feet. Located in Decatur, Alabama, this Class C multifamily property boasts an impressive 83.3% occupancy rate, offering immediate cash flow. The portfolio presents a significant value-add opportunity due to achievable market rent increases. Recent capital improvements include a new roof installed in 2022 and three new HVAC units added in 2023. The buildings are strategically situated within minutes of universities, shopping centers, and local industries, ensuring strong tenant demand. Individual building features vary, with some showcasing brick and vinyl exteriors, covered porches, and updated plumbing and stairs. The property is offered at $2,000,000, representing a compelling $111,111 per unit price and a 6.00% capitalization rate. This portfolio is ideal for investors seeking strong returns and potential for significant appreciation through value-add strategies. The properties are situated at multiple addresses in Decatur, Alabama, within Morgan County, zip code 35601. This is a rare opportunity to acquire a well-located, multifamily portfolio with significant upside potential in a growing market. The portfolio includes a mix of building materials and features, offering a diverse range of unit types. The current occupancy rate and recent improvements provide a solid foundation for future growth and profitability. This is a turnkey investment ready for immediate income generation and long-term appreciation.

Location Insight

City

Decatur

County

Morgan

State

Alabama

Longitude

-87.00788843

Latitude

34.57445384