SoldAug 14, 2020

Listed and Bought with DAVID HERMAN from David Herman Realty

Source: Montgomery Area Association of Realtors MLS #472939

3701 Wesley Dr, Montgomery, AL, 36111

$630,000

Other

30+ days on the market

Sold: Aug 14, 2020

What's around 3701 Wesley Dr

About this property

INVESTORS DREAM!!! Great 22-unit apartment building with huge upside potential. A lot of the units are rent ready and some are even occupied. This is a great investment. Very large apartments with over 1000 square feet. One of the owners of the company who owns the property is a licensed Alabama real estate broker. Owner financing available with $150000 down payment. There are three 1 bdrm 1 bath units, fifteen 2 bdrm 1 bath and four 2 bdrm 2 baths. Owner pays water and trash averaging approximately $350 per month when all units are occupied. Owner pays the electricity for the outdoor lights of $295 per month to Al. Pwr. Potential monthly gross income for Section 8 for the 1 bdrm 1 bath units is $600 x 3 units=$1800, $700 x 15 units is $10500 and $700 x 4 =$2800. Therefore, the total potential gross monthly rental income is $15,100 or $181,200 annually which could make this property valued at over $1 million.

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