Tuscaloosa Rental Package
450 29th Pl, Tuscaloosa, AL
14.28% return
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Property Description

This Is An Amazing Rental Portfolio Of 24 Units. Home Of The Crimson Tide & University Of Alabama! All Properties Are Located In One Neighborhood, Next To Each Other. CBS And Brick Construction. Separate Electric And Water Meters. City Water And Sewer. 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. Buildings are Available To Be Purchased Separately. Professional Property Management Is Available. Great For An Out Of State Investor! Market rents are $450 per unit!

Property Information

  • Listing statusActive
  • Property typeMulti Family
  • Total units24
  • Total bedrooms24
  • Total bathrooms24
  • Building size11922 sq. ft.
  • Lot size0.3 acres
  • Year built1970
  • CountyTuscaloosa County
  • SubdivisionUNIVERSITY MANOR
  • ConstructionFrame, Brick, CBS, Brick/Frame
  • RoofShingle, Flat
  • Water sourceCity
  • Water disposalSewer
  • HeatingWall unit
  • CoolingWall A/C

Property Financial Summary

  • Asking price $600,000
  • Estimated rehab 1 $0
  • Total investment $600,000
  • Type Proforma
  • Gross income (annually) $115,200
  • Operating expenses (annually) $29,500
  • Net income (annually) $85,700
  • Gross return 19.20%
  • Gross income (monthly) $9,600
  • Operating expenses (monthly) $2,458
  • Net income (monthly) $7,142
  • Net return 14.28%

Property Income & Expenses

  • Income
  • 450 29th Pl, TRIPLEX
  • 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
  • 425 29th Pl, 5 UNITS
  • 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
  • 408 29th Pl, TRIPLEX
  • 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
  • 410 29th Pl, 6 UNITS
  • 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
  • 510 29th Pl, 7 UNITS
  • 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 $9,600/month $115,200/year
  • Expenses
  • Insurance $419/month $5,025/year
  • Property Taxes $278/month $3,331/year
  • Waste Collection $96/month $1,152/year
  • Maintenance reserve $1,000/month $12,000/year
  • Property Management $666/month $7,992/year
  • Total $2,458/month $29,500/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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