Shelene Way
Property Description
20 Townhome units in four buildings along with common area land positioned in a gated development. Located in Foley AL, the states fastest growing city in 2025, only 9 miles to Gulf Shores public beach and within a 5-10 minute drive to all Foley has to offer. Renter demand is very strong for this product and this rate of rent in Foley, AL. These units stay rented/occupied with 12 month leases; and provide a consistent strong income with low owner expense. Current rental rates provide a 8.3% CAP rate; per Owner information. This is a rare find in Foley, AL and should be considered by all serious investors! Buyer to verify all information during due diligence.
Broker Details
Realty Executives Gulf Coast (251) 968-4300
MLS ID: 69_37 State License Number: 71913
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $3,000,000 |
| No. of Units: | 20 |
| Year Built: | 2008 |
| Opportunity Zone: | No |
| Price per unit: | $150,000 |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-BCARAL-390934
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