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$ 1,350,000
Est. payment | /mo
2 Beds
1 Bath
$ 1,350,000
Est. payment | /mo
2 Beds
1 Bath
Key Details
Property Type Multi-Family
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision East Lake
MLS Listing ID 21459954
Bedrooms 2
Full Baths 1
Year Built 1964
Property Sub-Type Apartment
Property Description
Welcome to 7720/7730 Madrid Ave, 20 light-filled Garden Apartment units. Market rents for these units now $800/door. Tenants have separate meters for electricity and water, owner pays trash and landscaping. Virtually all new HVAC, new water heaters majority, newly refinished parking lot, exterior lighting, new railings for both buildings to code, flooring and paint. Poised for long-term cash flow and appreciation. Less than 10 miles from downtown, East Lake is a desirable part of the city where tenants can be close to work, family, shopping centers, and nature. Quiet buildings occupied by working families. Professional Management in place with established tenant relationships for ease of transition, offering 3 months free rent collection and accounting.
Location
State AL
County Jefferson
Area Eastlake, Woodlawn
Interior
Heating Electric (HEAT)
Cooling Central Control (COOL)
Flooring Some Hardwood
Exterior
Parking Features 2 Spaces per Unit
Building
Foundation Crawl Space
Sewer Connected
Water Public Water
Schools
Elementary Schools Barrett
Middle Schools Ossie Ware Mitchell
High Schools Woodlawn
Others
Financing Cash,Conventional
Virtual Tour https://www.propertypanorama.com/instaview/bham/21459954
Listed by Bear Flag Property Management
NEARBY SCHOOL & BUSINESS
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Jeremy Galloway
Agent | License ID: 119764
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