700 AQUARIUS DRIVE

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Address: 700 AQUARIUS DRIVE, ALPINE, Alabama, US
Created date: February 29, 2024
Date last updated: April 15, 2024

Property Description

Here is your chance to acquire a 20 unit value-add apartment complex located directly on Alpine Bay Golf Course, a Robert Trent Jones Golf Course. Investor stopped construction midway through the project. There is plenty of value for the right investor to complete renovations and either hold long term or sell for a large profit (either as an apartment complex or as individualized condos). At full occupancy property will gross approx. $242,400 per year. ARV of approx. $2,500,000 upon completion. Apt Complex Details; 20 Units (16) 2BR/2BA/1,100sqft & (4) 3BR/3BA/1,300sqft. 2/2 Market Rents = $975/mo & 3/3 Market Rents = $1,150/mo. Approx. $320k-$340k construction remaining to complete project. Current Condition in more detail: 8 units are 95% complete (electrical/plumbing replaced, etc. only needs minor cosmetics). 4 units are 60% complete. 8 units are 15% complete (Partial demo has started - Complete rehab required). Happy to share supporting documentation. Creative financing available.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $1,479,000
No. of Units: 20
Year Built: 1986
Opportunity Zone: No
Price per unit: $73,950
Property Website Click Here
Number of Bedrooms: 44
Number of Bathrooms: 44
Address: 700 AQUARIUS DRIVE, ALPINE, AL 35014, USA
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