Value Add Portfolio
808 20th Street SW, Fayette, AL
16.94% return
LP:
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Property Description

*NEW PHOTOS* Insane investment opportunity. This property is an absolute steal! Under $11k per unit! 46 Units, 8 Buildings on 4 Parcels. Currently about 40% occupancy. Separate electric and water meters. Will be worth $20,000 per unit after renovations. Hold for rental income or resell for huge profits!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units46
  • Total bedrooms(unknown)
  • Total bathrooms(unknown)
  • Building size25872 sq. ft.
  • Lot size(unknown)
  • Year built1973 - 1977
  • CountyFayette County
  • SubdivisionQuail Run Apts
  • ConstructionBrick, Frame
  • RoofSHINGLE , SHINGLE , SHINGLE
  • Water sourceCity
  • Water disposalSewer
  • Heating(unknown)
  • CoolingCentral air, WALL UNIT

Property Financial Summary

  • Asking price $499,900
  • Estimated rehab 1 $200,000
  • Total investment $699,900
  • Type Proforma
  • After repair value $920,000
  • Potential profit $220,100
  • Gross income (annually) $151,200
  • Operating expenses (annually) $32,643
  • Net income (annually) $118,557
  • Gross return 21.60%
  • Gross income (monthly) $12,600
  • Operating expenses (monthly) $2,720
  • Net income (monthly) $9,880
  • Net return 16.94%

Property Income & Expenses

  • Income
  • 808 20 St. SW
  • Unit 1: studio / 0 bath $300/month $3,600/year
  • Unit 2: studio / 0 bath $300/month $3,600/year
  • Unit 3: studio / 0 bath $300/month $3,600/year
  • Unit 4: studio / 0 bath $300/month $3,600/year
  • Unit 5: studio / 0 bath $300/month $3,600/year
  • 115 6th St. SE - Poolside Apts
  • Unit 1: studio / 0 bath $200/month $2,400/year
  • Unit 2: studio / 0 bath $200/month $2,400/year
  • Unit 3: studio / 0 bath $200/month $2,400/year
  • Unit 4: studio / 0 bath $200/month $2,400/year
  • Unit 5: studio / 0 bath $200/month $2,400/year
  • Unit 6: studio / 0 bath $200/month $2,400/year
  • Unit 7: studio / 0 bath $200/month $2,400/year
  • Unit 8: studio / 0 bath $200/month $2,400/year
  • 818 & 819 20th St. & 2124 7th Ave SW
  • Unit 1: studio / 0 bath $300/month $3,600/year
  • Unit 10: studio / 0 bath $300/month $3,600/year
  • Unit 11: studio / 0 bath $300/month $3,600/year
  • Unit 12: studio / 0 bath $300/month $3,600/year
  • Unit 13: studio / 0 bath $300/month $3,600/year
  • Unit 14: studio / 0 bath $300/month $3,600/year
  • Unit 15: studio / 0 bath $300/month $3,600/year
  • Unit 2: studio / 0 bath $300/month $3,600/year
  • Unit 3: studio / 0 bath $300/month $3,600/year
  • Unit 4: studio / 0 bath $300/month $3,600/year
  • Unit 5: studio / 0 bath $300/month $3,600/year
  • Unit 6: studio / 0 bath $300/month $3,600/year
  • Unit 7: studio / 0 bath $300/month $3,600/year
  • Unit 8: studio / 0 bath $300/month $3,600/year
  • Unit 9: studio / 0 bath $300/month $3,600/year
  • 809 20th St., 818 20th St & 2043
  • Unit 1: studio / 0 bath $250/month $3,000/year
  • Unit 10: studio / 0 bath $300/month $3,600/year
  • Unit 11: studio / 0 bath $300/month $3,600/year
  • Unit 12: studio / 0 bath $300/month $3,600/year
  • Unit 13: studio / 0 bath $300/month $3,600/year
  • Unit 14: studio / 0 bath $300/month $3,600/year
  • Unit 15: studio / 0 bath $300/month $3,600/year
  • Unit 16: studio / 0 bath $300/month $3,600/year
  • Unit 17: studio / 0 bath $300/month $3,600/year
  • Unit 18: studio / 0 bath $300/month $3,600/year
  • Unit 2: studio / 0 bath $250/month $3,000/year
  • Unit 3: studio / 0 bath $250/month $3,000/year
  • Unit 4: studio / 0 bath $250/month $3,000/year
  • Unit 5: studio / 0 bath $250/month $3,000/year
  • Unit 6: studio / 0 bath $250/month $3,000/year
  • Unit 7: studio / 0 bath $250/month $3,000/year
  • Unit 8: studio / 0 bath $250/month $3,000/year
  • Unit 9: studio / 0 bath $300/month $3,600/year
  • Total $12,600/month $151,200/year
  • Expenses
  • Property Taxes $94/month $1,123/year
  • Lawn care $200/month $2,400/year
  • Insurance $333/month $4,000/year
  • Maintenance reserve $833/month $10,000/year
  • Property Management $1,260/month $15,120/year
  • Total $2,720/month $32,643/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 the 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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