$1,350,000
7720 MADRID AVENUE Birmingham, AL 35206
8
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$1,350,000
Est. payment /mo
2 BD
1 BA
Price Dropped by $150K
7720 MADRID AVENUE Birmingham, AL 35206
UPDATED:
09/30/2024 03:36 PM
Key Details
Property Type Multi-Family, Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision East Lake
MLS Listing ID 21387421
Bedrooms 2
Full Baths 1
Year Built 1964
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.
Location
State AL
County Jefferson
Area Eastlake, Woodlawn
Interior
Heating Electric (HEAT)
Cooling Central Control (COOL)
Flooring Some Hardwood
Exterior
Garage 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
Listed by Bear Flag Property Management
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