606 ,,, 706 N Alston Street
Property Description
Rare Investment Opportunity - Prime Location in Foley, AL. Don't miss this exceptional opportunity to acquire 10 apartment units each offering two bedrooms and one bath across three parcels (PPIN #396767, #72683, and #48020) located near each other in one of Foley's fastest-growing and most desirable areas. The property was remodeled in 2022 with upgrades including stainless appliances, wood-look vinyl flooring, fresh paint, butcher block kitchen islands, and in-unit laundry rooms. Strategically located just one block off Highway 59, these parcels offer excellent visibility and access-ideal for both immediate income generation and future commercial development. Zoned B-1 (Local Business District), residential use is no longer permitted under current zoning. However, the existing units are operating under legal non-conforming status, allowing continued residential occupancy. Whether you're looking for rental income or a high-profile redevelopment opportunity, this property provides both flexibility and potential. Highlights: -10 total apartment units - 3 separate parcels: PPIN #396767, #72683, #48020 -Zoned B-1 with legal non-conforming residential use -Property remodeled in 2022 -Excellent exposure just one block from Hwy 59 -Strong rental potential + future redevelopment opportunity** See attached document regarding zoning and rental information from the City of Foley. Buyer to verify all information during due diligence.
Broker Details
RE/MAX Paradise 251-948-8000
MLS ID: 309_1 State License Number: 13654-1
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,349,000 |
| Year Built: | 1977 |
| Lot Size: | 8,468.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 20 |
| Number of Bathrooms: | 10 |
ID: 3yd-BCARAL-381247
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout