106 Lindberg Avenue, Atmore, AL

13.71% return

SP: $280,000

Video Photos Street View Map

The slide show is now full screen. Push Escape to exit. You can use the left/right arrows and Home/End buttons to navigate the images.

Property Description

Awesome investment. Really nice, low crime area. Only an hour away from beautiful Pensacola Beach, FL. Two quadplexes on one parcel. 4 x 1bed/1bath and 4 x 2bed/1bath units. Central and window units. Property is rented way below market value at $325-475 but has potential to generate $450-550 or even higher. Rents need to be increased as leases expire. Stable tenants. No deferred maintenance needed. Solid brick and concrete construction. Separate meters. Will not last, call today!

Property Information

Listing statusSold
Property typeMulti Family
Total units8
Total bedrooms12
Total bathrooms8
Building size5373 sq. ft.
Lot size0.1 acres
Year built1950

CountyEscambia County
Subdivision
ConstructionCBS, Brick
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral, Window Unit
CoolingCentral air, Window A/C

Property Financial Summary

Sale price$280,000
Estimated rehab¹$0
Total investment$280,000

TypeProforma

Gross income (annually)$48,000
Operating expenses (annually)$9,616
Net income (annually)$38,384
Gross return17.14%

Gross income (monthly)$4,000
Operating expenses (monthly)$801
Net income (monthly)$3,199
Net return13.71%

Property Income & ExpensesMonthlyAnnual

Income

Quadplex Single Story
Unit 1: 1 bed / 1 bath$450/month$5,400/year
Unit 2: 1 bed / 1 bath$450/month$5,400/year
Unit 3: 1 bed / 1 bath$450/month$5,400/year
Unit 4: 1 bed / 1 bath$450/month$5,400/year
Quadplex Two Story
Unit 5: 2 bed / 1 bath$550/month$6,600/year
Unit 6: 2 bed / 1 bath$550/month$6,600/year
Unit 7: 2 bed / 1 bath$550/month$6,600/year
Unit 8: 2 bed / 1 bath$550/month$6,600/year
Total$4,000/month$48,000/year

Expenses

Property Taxes$195/month$2,339/year
Insurance$221/month$2,657/year
Lawn care$50/month$600/year
Maintenance reserve$250/month$3,000/year
Waste Collection$85/month$1,020/year
Total$801/month$9,616/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.