202 Somerville Rd Decatur, AL 35601
- Apartment buildings
- 3,624 SF
Current Use by Public Records
- Apartment buildings
Property Details for 202 Somerville Rd
- Year built
- 1956
- Construction
- WOOD
- Property size
- 3,624 SF
- Property type
- Apartment buildings
- APN
- 03-04-20-1-002-035.000
- APU
- 304201002035000
Description
This Decatur, Alabama duplex presents a compelling investment opportunity. Located at 202 Somerville Rd SE, 35601, this two-unit apartment building boasts 3,624 square feet of net rentable space, spread across two stories in a 1956-built structure. Currently operating at 100% occupancy with each unit generating $1100 in monthly rent (tenant pays all utilities and garbage), the property offers a strong net operating income (NOI) of $21,400, resulting in a 6.11% capitalization rate. The asking price is $350,000, or $175,000 per unit. The property is conveniently located near schools, shopping, and restaurants, adding to its appeal. The owner maintains the lawn. The property is being sold "as is." Showings are by appointment only, following receipt of a formal offer with proof of funds, and will occur during the inspection period. This is a rare opportunity to acquire a well-maintained, fully leased multifamily property in a desirable location. The property includes one pad.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Decatur
- County
- Morgan
- State
- Alabama
- Longitude
- -86.9723
- Latitude
- 34.6019
- CBSA code
- 19460
- CBSA name
- DECATUR, AL METROPOLITAN STATISTICAL AREA
