500 TUSCALOOSA AVENUE
Property Description
Welcome to 500 Tuscaloosa Ave a 20-unit income producing apartment complex Birmingham, AL offering immediate cash flow with additional upside potential. This property features all 2/1 units, with 17 units fully renovated between 2022-present. Renovations include updated interiors, new flooring, cabinetry, appliances, and major system upgrades. All renovated units have new HVAC systems and tankless water heaters, providing long-term efficiency and reduced maintenance costs. Currently, the property is primarily stabilized, with:19-income-producing units 1 vacant unit-ready for lease or renovation completion) 2 units positioned for full renovation (value-add opportunity) The property generates strong income, with current rent roll totaling approximately $16,500/month. Additional features include: Washer & dryer connections in units. Updated interiors and systems across majority of units. Consistent rental demand in the area. Professional management currently in place.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,900,000 |
| No. of Units: | 20 |
| Year Built: | 1978 |
| Opportunity Zone: | No |
| Price per unit: | $95,000 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-BHAMMLSAL-21449152
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Lenders
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Essex Property Trust, Inc.
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Josh A
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Bob Tuteur
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Andrew Schildcrout