1057 N Main St

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Address: 1057 N Main St, Arab, AL 35016, USA
Created date: November 21, 2024
Date last updated: February 4, 2025
  • Northgate Terrace Apartments presents investors with a great opportunity to acquire a turn-key, small-cap multifamily asset in Arab, Alabama. Located just off Highway 231, Northgate Terrace Apartments offers Arab locals looking for two bedroom housing a central location at a fair price. Based on these factors, as well as Northgate Terrace’s consistently high occupancy, there is opportunity for new ownership to increase rents to realize additional income.
  • Located near the heart of Arab, Alabama, in fast-growing Marshall County & just south of Huntsville, AL
  • Consistent tenant interest, occupancy is stabilized above 93%
  • Opportunity for long-term growth and income generation

Property Description

Perfect for the savvy Multifamily / Low-Rise/Garden investor, 1057 N Main St offers a prime investment opportunity. This impressive 11,200 SF building houses 16 units with Washer Dryer Hookups, boasting recent CAP EX remodels totaling $180K. With 12 out of 16 units already remodeled, the property presents a compelling value-add potential. The roof, less than 10 years old, adds further appeal to this property built in 1970. Located in the ARAB area, this property epitomizes lucrative investment potential, making it a must-consider opportunity for discerning investors.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $1,395,000
No. of Units: 16
Year Built: 1970
Lot Size: 1.74 Sq ft
Opportunity Zone: No
Price per unit: $87,188
Property Website Click Here
Address: 1057 N Main St, ARAB, AL 35016, USA
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