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3701 Wesley Drive, Montgomery, AL 36111

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For Sale

$1,400,000

1.55 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • 1.5 acres
    Lot size

  • Over 50 Years Old
    Age

Explore this Property

INVESTORS DREAM!!! 22-unit apartment building with huge upside potential. 15 of 22 units have been fully renovated and have tenants in them. There remains seven units to be remodeled. This is a great investment. All 1 Bedroom units are 900+ square feet and the 2 Bedroom apartments are 1000+ Sq/Ft with large patio/balconies. There is an incredible courtyard out back offering residents a place to rest and relax among nature. Two of the members of the company who owns the property are licensed Alabama and Georgia real estate agents There are three 1 bedroom 1 bath units, all have been renovated. There are fifteen 2 bedroom 1 bath units, all but three have been renovated. There are four 2 bedroom 2 bath units that have yet to be renovated. Owner pays water and trash ($27/can) as well as the electricity for the outdoor lights. Potential monthly gross income for the 1 bdrm 1 bath units is $675 x 3 units=$2025, $875 x 15 units is $13125 and $950 x 4 =$3800. Therefore, the total potential gross monthly rental income is $18,950 or $227,400 annually.
MLS# 7326558

Courtesy Of Keller Williams Realty Buckhead

(404) 604-3800

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other
  • Cooling System
    Central A/C
  • Floor Covering
    Carpet, Hardwood, Tile, Tile - Ceramic
  • Heating System
    Central Furnace
  • Lot Size
    1.55 Acres
  • Roof Type
    Composition Shingle

Map and Directions

Directions to 3701 Wesley Drive, Montgomery, AL 36111

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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