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7720 Madrid Avenue

Birmingham, AL 35206
  • $1,500,000
  • STATUS: Active
  • ON SITE: 13 Days
  • MLS #: 21387421
UPDATED: 66 min ago
$1,500,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Information

Elementary School:
Middle School:
High School:
Greater Alabama MLS (Birmingham Association of Realtors) logo Listing provided courtesy of Bear Flag Property Management.
© 2024 Greater Alabama MLS.



Description

20 unit Garden Apartment Buildings at 100% occupancy. Good mix of sec 8 tenants, responsible self-pay, and long-term tenants/residents. Market rents for these units now $800/door. All utilities in tenants' names. New HVAC in all units, new water heaters in large majority, newly refinished parking lot, exterior lighting, new railings for both buildings to code, flooring and paint. Ready for cash flow and appreciation as the Birmingham revitalization has already started moving to the east-laying neighborhoods. Less than 10 miles from downtown, East Lake is a desirable part of the city where tenants can be close to work, family, new shops, and nature. Less than a mile to Birmingham favorite Ruffner Mountain. Professional Management in place with established tenant relationships for ease of transition.

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Greater Alabama MLS (Birmingham Association of Realtors) logo © 2024 Greater Alabama MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX content is not guaranteed accurate by the MLS or EXIT Realty Southern Select. Data last updated: 2024-06-14T11:31:22.907.

www.exitrealtysouthernselect.com/homes/151164542
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7720 Madrid Avenue Birmingham, AL 35206

  • Price: $1,500,000
  • Status: Active
  • On Site: 13 Days
  • Updated: 66 min ago
  • MLS #: 21387421
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1964
Built
Neighborhood:
East Lake
County:
Jefferson
Area:
Eastlake, Woodlawn
Elementary School:
Barrett
Middle School:
Ossie Ware Mitchell
High School:
Woodlawn
Property Description
20 unit Garden Apartment Buildings at 100% occupancy. Good mix of sec 8 tenants, responsible self-pay, and long-term tenants/residents. Market rents for these units now $800/door. All utilities in tenants' names. New HVAC in all units, new water heaters in large majority, newly refinished parking lot, exterior lighting, new railings for both buildings to code, flooring and paint. Ready for cash flow and appreciation as the Birmingham revitalization has already started moving to the east-laying neighborhoods. Less than 10 miles from downtown, East Lake is a desirable part of the city where tenants can be close to work, family, new shops, and nature. Less than a mile to Birmingham favorite Ruffner Mountain. Professional Management in place with established tenant relationships for ease of transition.
Exterior Features

Multifamily Property Type Apartment

Interior Features

Cooling Central Control (COOL) Floors Some Hardwood Foundation Crawl Space Heating Electric (HEAT) Type One Bedrooms 2 Type One Full Baths 1 Type One Furnished ASN None Type One Half Baths 0

Property Features

Construction Brick and Frame Expense Term Per Month Expenses 330 Financing CashConventional Miscellaneous None/Other Sales Type N/A Sewer Septic Connected Tenant Pays Electric (TENANT)Water/Sewer (TENANT) Type One Features Eating Area-KitchenRefrigeratorSep DiningSep LivingStove Type One Units 20 Water Public Water Water Heater Electric (WTRHTR) Year Built Desc Existing

Listing provided by Bear Flag Property Management: (205) 733-0354.


Greater Alabama MLS (Birmingham Association of Realtors) logo © 2024 Greater Alabama MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX content is not guaranteed accurate by the MLS or EXIT Realty Southern Select. Data last updated: 2024-06-14T11:31:22.907.

 
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Greater Alabama MLS (Birmingham Association of Realtors) logo Listing provided courtesy of Bear Flag Property Management.
© 2024 Greater Alabama MLS.