3751 Wesley Dr, Montgomery, AL 36111
- Apartment buildings
- 6,845 SF
- 0.48 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 3751 Wesley Dr
- Year built
- 1956
- Construction
- WOOD
- Lot size
- 0.48 lot acres
- Zone code
- R-75-M
- Property type
- Apartment buildings
- APN
- 10-09-30-4-014-007.000
- APU
- 1009304014007000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Oct 4, 2021 | $298,000 | Bubble Leaf Blower LLC | Bham Buyers LLC | Warranty Deed | $223k · Finance Of America Commercial |
| Oct 4, 2021 | $235,000 | Bham Buyers LLC | Creekside Grass LLC | Warranty Deed | — |
| Feb 4, 2020 | $129,900 | Creekside Grass LLC | David Herman | Warranty Deed | — |
| Nov 14, 2016 | $113,789 | France Sloan | Auctioneer|herman,david | Trustees Deed · related | — |
| Mar 6, 2009 | — | David Herman | Sloan,franc | Warranty Deed | $140k · Franc Sloan |
| Jan 3, 2007 | $138,000 | Franc Sloan | Smith,jerome D | Warranty Deed | — |
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.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Montgomery
- County
- Montgomery
- State
- Alabama
- Longitude
- -86.296
- Latitude
- 32.3311
- CBSA code
- 33860
- CBSA name
- MONTGOMERY, AL METROPOLITAN STATISTICAL AREA
