510 29th Pl, Tuscaloosa, AL
12.17% return
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Property Description

Hurry! Unbelievable Opportunity! Home Of The Crimson Tide & University Of Alabama. 7 Units. Fully Occupied. Tenants Pay All Utilities. Units Are Separately Metered For Electric & Water. Building Is On City Water & Sewer. Property Is Inexpensive Property To Run. 28% Population Growth In The Last 15 Years. 200k Population In MSA. Next To New Construction, A Large Student Apartment Complex. Minutes Away From UA. Buildings Are In Great Shape. . Professional Property Management Is Available. Great For An Out Of State Investor!

Property Information

  • Listing statusSold
  • Property typeMulti Family
  • Total units7
  • Total bedrooms7
  • Total bathrooms7
  • Building size3465 sq. ft.
  • Lot size0.1 acres
  • Year built1970
  • CountyTuscaloosa County
  • ConstructionBrick/Frame
  • Roof
  • Water sourceCity
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWall A/C

Property Financial Summary

  • Asking price $205,000
  • Estimated rehab 1 $0
  • Total investment $205,000
  • Type Proforma
  • Gross income (annually) $33,600
  • Operating expenses (annually) $8,658
  • Net income (annually) $24,942
  • Gross return 16.39%
  • Gross income (monthly) $2,800
  • Operating expenses (monthly) $722
  • Net income (monthly) $2,079
  • Net return 12.17%

Property Income & Expenses

  • Income
  • Unit A: 1 bed / 1 bath $400/month $4,800/year
  • Unit B: 1 bed / 1 bath $400/month $4,800/year
  • Unit C: 1 bed / 1 bath $400/month $4,800/year
  • Unit D: 1 bed / 1 bath $400/month $4,800/year
  • Unit E: 1 bed / 1 bath $400/month $4,800/year
  • Unit F: 1 bed / 1 bath $400/month $4,800/year
  • Unit G: 1 bed / 1 bath $400/month $4,800/year
  • Total $2,800/month $33,600/year
  • Expenses
  • Insurance $122/month $1,465/year
  • Property Taxes $86/month $1,026/year
  • Waste Collection $28/month $336/year
  • Maintenance reserve $292/month $3,500/year
  • Property Management $194/month $2,331/year
  • Total $722/month $8,658/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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