Property Details for 618 4Th St

Year built

1945

Lot size

1.50 lot acres

Property size

9,061 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents eight single-family rental houses totaling 9,061 square feet on a 1.5-acre lot in Tuscaloosa, Alabama. Currently 63% occupied, this Class C property offers immediate cash flow with significant upside potential. Located less than a quarter-mile from the University of Alabama, the property benefits from high traffic counts on nearby McFarland Boulevard (46,632 AADT) and Jack Warner Parkway (22,548 AADT). The existing structures, built in 1945, are situated on a contiguous 1.23 acres (seven of eight houses) and are zoned R-4, permitting up to 15 units per acre. However, surrounding properties zoned RMF-1 boast much higher density, presenting a compelling opportunity for rezoning and redevelopment into a higher-density multifamily or student housing project. The asking price is $1,300,000, representing $143.47 per square foot and $162,500 per unit. The land alone is valued at $1,000,000 per acre. This property's location within an Opportunity Zone further enhances its investment appeal, offering potential tax advantages. The current owner has not actively pursued leasing the vacant units, leaving considerable room for increased occupancy and rental income. This presents a unique chance to acquire a cash-flowing asset with substantial growth potential through either improved management or strategic redevelopment.

Location Insight

City

Tuscaloosa

County

Tuscaloosa

State

Alabama

Longitude

-87.5289922

Latitude

33.2201877