2918 5TH Avenue, Tuscaloosa, AL
15.77% return
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Property Description

Money Maker!! Home Of The Crimson Tide & University Of Alabama. Property Features 3 Town-Home Apartments, Each Consisting Of 2 Bedrooms And 1.5 Bathrooms. Currently Rented Below Market Value Can Rent For $600/Unit. No Utility Expenses For The Landlord. Property Is Very Inexpensive To Own And Maintain. Generates Amazing Returns On Investment With No Headaches. 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 units3
  • Total bedrooms6
  • Total bathrooms4.5
  • Building size3234 sq. ft.
  • Lot size0.0 acres
  • Year built1972
  • CountyTuscaloosa County
  • ConstructionBrick
  • RoofShingle
  • Water sourceCity
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral

Property Financial Summary

  • Asking price $105,000
  • Estimated rehab 1 $0
  • Total investment $105,000
  • Type Proforma
  • Gross income (annually) $21,600
  • Operating expenses (annually) $5,043
  • Net income (annually) $16,557
  • Gross return 20.57%
  • Gross income (monthly) $1,800
  • Operating expenses (monthly) $420
  • Net income (monthly) $1,380
  • Net return 15.77%

Property Income & Expenses

  • Income
  • Unit A: 2 bed / 1.5 bath $600/month $7,200/year
  • Unit B: 2 bed / 1.5 bath $600/month $7,200/year
  • Unit C: 2 bed / 1.5 bath $600/month $7,200/year
  • Total $1,800/month $21,600/year
  • Expenses
  • Insurance $121/month $1,448/year
  • Property Taxes $79/month $952/year
  • Maintenance reserve $125/month $1,500/year
  • Property Management $83/month $999/year
  • Waste Collection $12/month $144/year
  • Total $420/month $5,043/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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