202 16Th St Tuscaloosa, AL 35401
- Residential income homes
- 2,850 SF
- 0.34 lot acres
Current Use by Public Records
- Residential income homes
Property Details for 202 16Th St
- Lot size
- 0.34 lot acres
- Property size
- 2,850 SF
- Property type
- Residential income homes
- Property subtype
- Dormitories
- APN
- 31-07-25-2-003-010.002
Description
This exceptional investment opportunity presents a two-unit, turn-key rental property portfolio ideally situated in Tuscaloosa, Alabama's Forest Lake area. The portfolio comprises two, two-story single-family homes, totaling 2,850 square feet on a 0.34-acre lot. Each unit commands a price of $300,000, resulting in a total asking price of $600,000. Currently 100% occupied, the property generates a gross annual rent of $34,500, offering immediate cash flow. Its convenient proximity to the University of Alabama campus ensures consistent occupancy. The property's strategic location benefits from the new 2nd Avenue flyover bridge, presenting significant redevelopment potential. Preliminary redevelopment sketches are available upon request. The sale includes two properties located at 202 16th St (APN: 31-07-25-2-003-010.002) and 210 16th St (APN: 31-07-25-2-003-010.001), both in Tuscaloosa, AL 35401. This portfolio is categorized as both a single-family rental portfolio and student housing, making it an attractive investment for various strategies. The price per square foot is $210.53.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Tuscaloosa
- County
- Tuscaloosa
- State
- Alabama
- Longitude
- -87.538081576419
- Latitude
- 33.197140776344
