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Downtown 8 PLex

$910,000

108 Meyer Street, Columbiana, AL 35051

Active
Last Updated: 09/09/2024

57,654

NOI

6.3

Pro Forma Cap Rate

Details:
NOI:    $57,654
Pro Forma Cap Rate :    6.3%
Occupancy:    100%
Class:    B
Units:    8
Price Per Unit:    $113,750
Investment Strategy:    Core
Highlights:
  • 100% leased
  • all water heaters replaced in 2021
  • duplex units with plenty of green area
  • close to a quiet, charming downtown area
Description:

This atractive property is four (4) duplex buildings for a total of 8 units. Meyer Place Apartments are spacious and each unit has washer/dryer connections. The property is in Columbiana, AL, a quaint suburb of Birmingham, AL and is only two blocks from the Shelby County courthouse. The landlord purchased the property in 2021 and has recently raised all of the rents, but there is still room for rent growth.

Map:
Documents:
Title
2024_108_Meyer_St._Apts._0823.pdf
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