106 Lindberg Ave, Atmore, AL
13.71% return
LP:
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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
  • Roof
  • Water sourceCity
  • Water disposalSewer
  • HeatingCentral, Window Unit
  • CoolingCentral, Window A/C

Property Financial Summary

  • Asking price $280,000
  • Estimated rehab 1 $0
  • Total investment $280,000
  • Type Proforma
  • Gross income (annually) $48,000
  • Operating expenses (annually) $9,616
  • Net income (annually) $38,384
  • Gross return 17.14%
  • Gross income (monthly) $4,000
  • Operating expenses (monthly) $801
  • Net income (monthly) $3,199
  • Net return 13.71%

Property Income & Expenses

  • 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.

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