MLS# 492561
Status: Active

2810 Fairwest
Montgomery, Alabama 36108-
Are you a seasoned or new investor looking for an investment property in a hot market? Take a look at this 20-unit multi-family listing that just became available. Each unit is equipped with a stove, refrigerator and a window heating and cooling unit. 17 of the 20 units have been updated with only 3 remaining to renovate, and the parking lot has 20 newly striped parking places. The property has a new $50000 roof with new gutters, downspouts and a new privacy fence. Also, there are new security lights and cameras outside that have recently been installed. This property is a prime investment and when fully leased at pro-forma rents could generate over $158,000 per year and will be worth close to $1.0 million. There are 12 2-bedroom units that can be leased for up to $695 per month and 8 1-bedroom units that can be leased for up to $595 per month. Currently 12 of the 20 units are leased and seller is actively leasing the other units. The property is only one mile from a new charter school that should increase the value of the real estate in this area. It is also close to a public library, a large public high school and a new elementary school. Montgomery, Al. was named the #1 historical city by USA Today and is home to the only Hyundai car manufacturing plant in the U.S. Also, Montgomery had close to one million people visit the National Memorial for Peace and Justice Museum and the companion Legacy Museum since its opening in 2018. Come invest in Montgomery Alabama, the City of Dreams.
Additional Photos
Design:2 Story
Construction:Concrete Block
Parking:Parking Pad