613-619 WATTS Street, Montgomery, AL 36104

  • $559,900
  • $559,900
613-619 WATTS Street, Montgomery, AL 36104
  • ResidentialIncome
  • Property Type
  • 1950
  • Year Built
For Sale
613-619 WATTS Street, Montgomery, AL 36104
613-619 WATTS Street, Montgomery, AL 36104
  • $559,900
  • $559,900

Description

A diamond in the rough multi-family investment opportunity! This 16-unit concrete block apartment complex is a total rehab but has the potential to bring in $950 per unit after the apartments are fixed up. The current owner has started the renovation by installing a brand new architectural shingled roof and replacing all the rotten fascia. The after repaired value of the complex is estimated to be approximately $1.1 million. Pro-forma rents are $182,400 per year at $950/month.

The complex would be a perfect student housing complex as it is located within walking distance to a 4-year University. The complex is also located within minutes of the many historical attractions in Montgomery including the nationally acclaimed Equal Justice and Freedom Museum and Monument and the $90 million white water adventure park. Montgomery was named the #1 historical city in the United States by USA Today in 2014 and was listed on the NY Times list of “50 places you must visit before you die.” Come experience the southern hospitality of Montgomery and attractive investment opportunities as Alabama has the lowest property taxes in the continental U.S. As an extra tax incentive the complex is in an opportunity zone.

  • Address 613-619 WATTS Street
  • City Montgomery
  • State/county AL
  • Zip/Postal Code 36104
  • Country United States

Details

Updated on August 10, 2024 at 12:09 pm
  • Property ID: 79527
  • Price: $559,900
  • Year Built: 1950
  • Property Type: ResidentialIncome
  • Property Status: For Sale
  • MLS#: 523942
  • Office Name: DAVID HERMAN REALTY
  • Agent Name: David Herman
  • MLS Status: Active

Additional details

  • Sewer: PublicSewer
  • Cooling: None
  • Heating: WallFurnace
  • Tax Annual: 960
  • Flooring: Tile
  • County: Montgomery
  • Pool: None
  • Parking: Asphalt,Driveway
  • Middle/Junior School: ,
  • Water Source: Public

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DL Realty, LLC
  • DL Realty, LLC