28
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$449,900
Est. payment /mo
2 Beds
1 Bath
Price Dropped by $50K
524 VANDERBILT STREET Birmingham, AL 35206
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Key Details
Property Type Multi-Family
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision East Lake
MLS Listing ID 21438197
Bedrooms 2
Full Baths 1
Year Built 1963
Property Sub-Type Apartment
Property Description
Great value-add multifamily opportunity in the growing East Lake area. This 12-unit apartment building features all 2BR/1BA units, with 9 units vacant and 3 currently occupied. Several major exterior improvements have already been completed, including a new roof, new rear steps and deck, fresh exterior paint, and repaired soffit and fascia. Seller states all A/C units are in working condition. Work has already begun, and a full scope of work and bid for the remaining interior renovations can be provided. A certified appraisal reflecting an ARV of $860,000 has been completed. Proforma rent is $875–$925 per unit. Remaining renovation needs include: light plumbing and electrical updates where needed, interior paint, new flooring, cabinets and countertops, and updated tubs, toilets, and vanities in each unit. Ideal opportunity for an investor looking to complete the renovation and reposition this property in a rapidly improving area.
Location
State AL
County Jefferson
Area Eastlake, Woodlawn
Interior
Heating Electric (HEAT)
Cooling Central Control (COOL)
Flooring Laminate, Tile, Vinyl
Exterior
Parking Features Other
Building
Foundation Slab
Sewer Connected
Water Public Water
Schools
Elementary Schools Robinson
Middle Schools Ossie Ware Mitchell
High Schools Woodlawn
Others
Financing Cash,Conventional
Virtual Tour https://www.propertypanorama.com/instaview/bham/21438197
Listed by eXp Realty, LLC Central
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