Chaumont Apartments
921 Navco Rd, Mobile, AL
17.20% return
LP:
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Property Description

Awesome investment opportunity! Heavily discounted 12 unit apartment complex. Separate electric and water meters. City water and sewer. All brick construction. Two units are in need of rehab. Amazing value add opportunity. Property can generate a 17%+ return on investment. Highly populated area, 500k residents in the county. Call us today.

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units12
  • Total bedrooms16
  • Total bathrooms12
  • Building size8868 sq. ft.
  • Lot size0.6 acres
  • Year built1964
  • CountyMobile County
  • Subdivision
  • ConstructionBrick
  • RoofShingle
  • Water sourceCity
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWall A/C Units

Property Financial Summary

  • Asking price $300,000
  • Estimated rehab 1 $50,000
  • Total investment $350,000
  • Type Proforma
  • After repair value $450,000
  • Potential profit $100,000
  • Gross income (annually) $76,800
  • Operating expenses (annually) $16,593
  • Net income (annually) $60,207
  • Gross return 21.94%
  • Gross income (monthly) $6,400
  • Operating expenses (monthly) $1,383
  • Net income (monthly) $5,017
  • Net return 17.20%

Property Income & Expenses

  • Income
  • Unit 1: 1 bed / 1 bath $500/month $6,000/year
  • Unit 2: 1 bed / 1 bath $500/month $6,000/year
  • Unit 3: 1 bed / 1 bath $500/month $6,000/year
  • Unit 4: 1 bed / 1 bath $500/month $6,000/year
  • Unit 5: 1 bed / 1 bath $500/month $6,000/year
  • Unit 6: 1 bed / 1 bath $500/month $6,000/year
  • Unit 7: 1 bed / 1 bath $500/month $6,000/year
  • Unit 8: 1 bed / 1 bath $500/month $6,000/year
  • Unit 9: 2 bed / 1 bath $600/month $7,200/year
  • Unit 10: 2 bed / 1 bath $600/month $7,200/year
  • Unit 11: 2 bed / 1 bath $600/month $7,200/year
  • Unit 12: 2 bed / 1 bath $600/month $7,200/year
  • Total $6,400/month $76,800/year
  • Expenses
  • Property Taxes $254/month $3,053/year
  • Insurance $208/month $2,500/year
  • Lawn care $30/month $360/year
  • Maintenance reserve $250/month $3,000/year
  • Property Management $640/month $7,680/year
  • Total $1,383/month $16,593/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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