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Property profile & analytics
OFF-MARKET
Estimated value
$1,230,000
Garden apartment buildings
1528 16th S Ave Birmingham, AL 35205-6100
Entity Owned
3-yr Hold
Free & Clear
Property ID
US03-0199850
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1978
Total area
8,232 SF
Lot
0.48 ac (20,821 SF)
Zoning code
R4A
APN
29-00-01-4-021-019.000
UPID
US03-0199850
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.22M
CAP Approach
CAP
$915k
Comparable Approach
Comparable
$1.34M
Blend (final)
Blend
$1.23M
Owner & transaction history
1515 15th St LLC · 3 yrs held
1515 15th St LLC
since 2023
Last sale
$1.4M
1 recorded transaction
Zoning & alternative use
R4A · Birmingham, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Birmingham submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Birmingham submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,120,000
ML approach
$1,215,000
CAP Approach
CAP Return
Estimation
6%
$990,000
6.5%
$915,000
7%
$850,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,660,000
Current use
MEDICAL BUILDING
$1,465,000
Change: -12% · Conversion: Moderate
OFFICE BUILDING
$1,375,000
Change: -17% · Conversion: Moderate
Blend value · Realmo final
$1.23M
Range $1.11M – $1.35M · ±10% · vs last sale $1.40M (May 12 2023)
Last sale anchor
$1.40M
May 12 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$149 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$13,195
Tax year 2022
Assessed value
$187,360
Assessed 2023
Previous assessed
$182,000
+2.9% YoY
Effective rate
7.04%
On assessed value
Assessed land
$76,620
Assessed improvement
$110,740
Land market value
$383,100
Improvement market value
$553,700
Total market value
$936,800
Applied tax rate
36.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1978
Heating
FORCED AIR
Cooling
YES
Stories
2
Rooms
12
Bathrooms
5
Total area
8,232 SF
Lot
0.48 ac (20,821 SF)
Zoning code
R4A
APN
29-00-01-4-021-019.000
UPID
US03-0199850
Jurisdiction
JEFFERSON
Zoning & alternative use
R4A · Birmingham, AL
Zoning R4A · permitted uses
R4A · Birmingham, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Birmingham. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.5M
OFFICE BUILDING
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1978
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
12
Bathrooms
5
Lot
0.48 ac
Current owner
From public records · entity-resolved
1515 15th St LLC
Entity
Free & Clear · 3 yrs held
Mailing address
3920 GLENWOOD AVE, BIRMINGHAM, AL 35222-4204
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 12, 2023
$1,400,000
1515 15th St LLC
Leonard Properties Three LLC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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