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Property profile & analytics
OFF-MARKET
Estimated value
$3,805,000
Apartment buildings
1615 Fairview Ave Montgomery, AL 36106-2198
Entity Owned
4-yr Hold
Absentee Owner
Property ID
US03-0947697
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1995
Total area
12,563 SF
Lot
0.7 ac (30,361 SF)
Zoning code
R-75-M
APN
10-04-20-2-021-054.000
UPID
US03-0947697
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
$3.87M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.81M
Owner & transaction history
Gazebo Portfolio LLC · 4 yrs held
Gazebo Portfolio LLC
since 2021
Last sale
$4.0M
1 recorded transaction
Zoning & alternative use
R-75-M · Montgomery, AL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
of chicken brooder houses, and provided no structure, pen or corral housing animals is located closer than 200 feet to any property line. "G" Any commercial or industrial use not specifically permitted. R-75-s, R-75-d, R-75-m Item Districts R-75-s R-75-d R-75-m Classes of structures or uses permitted A A & B A, B, C, D & H Classes of structures or uses permi…
Zone name
Residence Zone
General category
RESIDENTIAL
Zone area
714.38 ac
Source
code of ordinances
Top alternative use upside
Restaurant
$3.6M
+33.2%
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 Montgomery submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Montgomery 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
$3,355,000
ML approach
$3,870,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,695,000
Current use
RESTAURANT
$3,585,000
Change: +33% · Conversion: Difficult
Blend value · Realmo final
$3.81M
Range $3.42M – $4.19M · ±10% · vs last sale $4.00M (Dec 29 2021)
Last sale anchor
$4.00M
Dec 29 2021
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
$303 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$31,852
Tax year 2023
Assessed value
$578,220
Assessed 2023
Previous assessed
$578,220
+0.0% YoY
Effective rate
5.51%
On assessed value
Assessed land
$60,800
Assessed improvement
$517,420
Land market value
$304,000
Improvement market value
$2,587,100
Total market value
$2,891,100
Applied tax rate
2.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1995
Heating
FORCED AIR
Cooling
YES
Buildings
3
Stories
3
Units
12
Rooms
24
Bathrooms
37
Total area
12,563 SF
Lot
0.7 ac (30,361 SF)
Zoning code
R-75-M
APN
10-04-20-2-021-054.000
UPID
US03-0947697
Jurisdiction
MONTGOMERY
Zoning & alternative use
R-75-M · Montgomery, ALZoning R-75-M · permitted uses
R-75-M · Montgomery, AL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
of chicken brooder houses, and provided no structure, pen or corral housing animals is located closer than 200 feet to any property line. "G" Any commercial or industrial use not specifically permitted. R-75-s, R-75-d, R-75-m Item Districts R-75-s R-75-d R-75-m Classes of structures or uses permitted A A & B A, B, C, D & H Classes of structures or uses permitted on appeal F F F Classes of structures or uses restricted B, C, D, E, G & H C, D,
Zone name
Residence Zone
General category
RESIDENTIAL
Zone area
714.38 ac
Source
code of ordinances
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.7M
RESTAURANT
Est. value
$3.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
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
1995
Heating
FORCED AIR
Cooling
Yes
Stories
3
Buildings
3
Units
12
Rooms
24
Bathrooms
37
Lot
0.7 ac
Current owner
From public records · entity-resolved
Gazebo Portfolio LLC
Entity
Mailing address
2 N JACKSON ST STE #605, MONTGOMERY, AL 36104-3821
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Dec 29, 2021
$2,682,927
Gazebo Portfolio LLC
Country Club Condominums LLC
Warranty Deed
$12,333,490 · The Bancorp Bank
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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