704 Washington Chapel Terrace Court
Tuskegee, AL 36088
- – beds
- – baths
- – sqft
- 1974 build
- – on site
These newly renovated mid-term rentals are located within a mile from Tuskegee University. The property receives above market rents due to the proximity to university. Currently being used for student housing. Being rented by the bed, not by the door. Value add opportunity. This property has historically remained 95% occupied. With on site property management, and security. Premium interior/exterior finishes make this a highly sought after property, especially among students. This is a rare opportunity to acquire an asset with a CAP rate just below 8%. In today's rate environment this is above where many other multifamily deals are trading. At full occupancy this property has the potential to bring $450,000 in annual rental revenue.
Last checked:
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Last updated May 13, 2025
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MLS# 576338 —
The Building
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Year Built:1974
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New Construction:false
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Construction Materials:Brick
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Levels:OneAndOneHalf
Interior
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Interior Features:EatInKitchen
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Flooring:Laminate, Plank, Vinyl
Financial & Terms
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Lease Considered:false
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Lease Term:TwelveMonths
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Possession:CloseOfEscrow
Location
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Directions:USE GPS
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Latitude:32.414255
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Longitude:-85.718945
The Property
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Property Type:ResidentialIncome
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Parcel Number:08-07-35-4-002-004-0010
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Lot Size Units:Acres
Listing Agent
- Contact info:
- Agent phone:
- (334) 495-8888
- Office phone:
- (334) 495-8888
Taxes
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Tax Legal Description:6.57ACD BEG @ NW COR OF SE1/4 OF SEC TH S 600.21' E 496.44' N 600.26' W 458.33' TO POB S35 T17N R23E
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Tax Annual Amount:15677.0
Heating & Cooling
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Heating:Central, Gas
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Heating:true
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Cooling:CentralAir, Electric
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Cooling:true
Utilities
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Utilities:CableAvailable, ElectricityAvailable, NaturalGasAvailable, HighSpeedInternetAvailable
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Sewer:PublicSewer
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Water Source:Public
Appliances
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Appliances:GasWaterHeater
The Community
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Association:false
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
5/13/25
May 13, 2025
|
Listed / Active | MAAR_AL | $3,900,000 |
