3751 Wesley Dr Montgomery, AL 36111

Property Details for 3751 Wesley Dr

Year built

1956

Construction

WOOD

Lot size

0.48 lot acres

Property size

6,845 SF

Zone code

R-75-M

Property type

Apartment buildings

APN

10-09-30-4-014-007.000

APU

1009304014007000

Description

This Montgomery, Alabama multifamily investment opportunity presents a six-unit apartment building situated on Wesley Drive, zip code 36111. The property, built in 1958, consists of two, two-story buildings encompassing a total of 6,204 net rentable square feet. Currently, the occupancy rate is 50%, with four units occupied and two vacant. Four units are occupied, two with Section 8 tenants paying $595 per month, and another long-term tenant paying $650 monthly. One vacant unit requires approximately $7,000 in renovations to become rent-ready. The asking price is $350,000, translating to $58,333.33 per unit. The property boasts a Net Operating Income (NOI) of $3,625, resulting in a 1.04% capitalization rate. Each unit features two bedrooms and one bathroom. Electrical systems have been updated to meet current code. This property offers a chance to acquire a cash-flowing investment, expand a portfolio, and contribute to the local housing market. The property's location in Montgomery County provides access to various amenities and a stable rental market. This is an excellent opportunity for investors seeking a proven income stream with potential for future growth.

Location Insight

City

Montgomery

County

Montgomery

State

Alabama

Longitude

-86.296

Latitude

32.3311

CBSA code

33860

CBSA name

MONTGOMERY, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments