3701 - 3743 Wesley Drive Montgomery, AL 36111

Description

INVESTORS DREAM!!! Great 22-unit apartment building with huge upside potential. 17 of 22 units have been fully renovated and have tenants in them. There remains five units to be remodeled. This is a great investment. All 1 Bedroom units are 900+ square feet and the 2 Bedroom apartments are 1000+ Sq/Ft with large patio/balconies. There is an incredible courtyard out back offering residents a place to rest and relax among nature. Two of the members of the company who owns the property are licensed Alabama and Georgia real estate agents There are three 1 bedroom 1 bath units, all have been renovated. There are fifteen 2 bedroom 1 bath units, all but three have been renovated. There are four 2 bedroom 2 bath units, all but two have been renovated. Owner pays water and trash ($27/can) as well as the electricity for the outdoor lights. | *** 2025 fire damaged 2 units not yet renovated & roof of one building*** ***Asbestos discovered in drywall / sheetrock joint compound in burned building*** ***Abatement estimates available upon receipt of POF*** | ***VALUE ADD OPPORTUNITY*** -Due to the large unit sizes 900 & 1,000 square ft, an additional bedroom could be added. -5 units are left to be renovated -Below market rent based on the Montgomery Housing Authority last updates -1 Br up to $932 -2 Br up to $1108 -3 Br up to 1432 -Laundry facility & vending machine additions. -Add new roof. -Located in Opportunity Zone providing additional tax incentives.