Village Heights #8

Highlights

• - 3,880 SF building with 4 units
• - Constructed in 1981, renovated in 2023
• - Zoned for Multifamily use
• - Located in the Enterprise area
• - 100% occupancy with stable rental income
• - Modern amenities and updated features
• - Low-Rise/Garden investor's ideal opportunity
• - Strong historical and projected cash flow

Description

GREAT INVESTMENT OPPORTUNITY – This quadruplex has been owner occupied for 20 years and has a consistent income-producing rental history for the remaining units. Property is located in Enterprise, AL only 7.5 miles from Fort Novosel-Home of the US Army's Aviation training, local shopping, and other area and regional attractions like the Gulf Coast beaches. Corner lot at the entrance to the complex. Each 2 bedroom, 1 full bathroom apartment is approximately 970 square feet. Upgrades and renovations to modernize the facility, as well as for lower maintenance purposes have been done throughout the building over the years, including a full metal roof; new decks for the upstairs units; HVAC systems, plumbing and electrical fixtures; appliances, installation of ceramic tile, vinyl, and wood laminate floors; new paint and mouldings; privacy fence and more. Bedrooms have walk-in closets and every room has a ceiling fan. Each unit has a large living room, dining area, applianced galley kitchen, laundry hookups in bathrooms, patio or deck, and large storage room. Owner provides pest control, trash removal (private dumpster located next to the parking area), water/sewer, and yard maintenance. Tenants pay their own power and cable/internet. Off-street parking directly in front of the building. All electric, no gas. Units can rent for up to $895 currently. At the time of this post, two apartments have long-term tenants in 12-month leases; third apartment is month-to-month but tenant may opt to sign a long-term lease. Continue to keep it owner occupied or rent out the fourth unit. NO owner financing. 48-hour notice required by state law for showings. Seller holds real estate broker licenses in both Alabama and Florida.

Located in Enterprise, AL just off Boll Weevil Circle and only 7.5 miles from Fort Novosel.