3701 Wesley Drive
Montgomery, AL 36111
- – beds
- – baths
- ~2 acre lot
- 1963 build
- – on site
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.
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Last updated Apr 17, 2024
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MLS# 7326558 —
Walk Score®
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Bike Score®
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Transit Score®
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Soundscore™
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Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
1/18/24
Jan 18, 2024
|
Listed / Active | FMLS | $1,400,000 |