• 700 Aquarius Drive ALPINE, AL 35014

  • $1,479,000
  • 44
    Bed(s)
  • 44
    Baths
  • 22,800
    Sq Ft

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.

Property Type :

Apartment

County :

Talladega

Style :

Apartment

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Property Details

 

Building Information

Built Year: 1986

Built: Existing

Property Information

Sale/Rent: For Sale

Type: Apartment

Area: Talladega County

City: ALPINE

County: Talladega

State: AL

Zip: 35014

Directions: US-280 E to Vincent. Turn left onto US-231 N. Turn right onto State Rte 60. Continue onto Kelly Creek Rd/Shelby County 60. Sharp right onto Logan Martin Dam Rd. Turn left onto AL-235 N. Turn right onto Bridgeview Dr. Turn

Property Status: Active

Listing Information

List Price: $1,479,000

Price Per SQFT: $1

List Price Tot SqFt: $1

ListingId: 21372202

School Information

Elementary School: STEMLEY ROAD

Junior High School: TALLADEGA CO.

Senior High School: TALLADEGA

Homes around $1,479,000

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
Centuries Drive #5, Alpine, AL,35014 $30,000 -- -- 0 0.42 Acre
Jones Road #3, Alpine, AL,35014 $8,000 -- -- 0 0.4 Acre
385 Carr Road #1, Alpine, AL,35014 $90,000 -- -- 25 24.6 Acres
Jupiter Circle #193, Alpine, AL,35014 $12,000 -- -- 0 0.46 Acre
Aquarius Drive #118, Alpine, AL,35014 $16,500 -- -- 1 0.52 Acre
Renfroe Road, Alpine, AL,35014 $2,999 -- -- 1 0.77 Acre
Renfro Road #12, Alpine, AL,35014 $2,990 -- -- 0 0.19 Acre
12712 Plant Road, Alpine, AL,35014 $164,475 3 2 3,034 4 Acres
Jones Road #9, Alpine, AL,35014 $30,000 -- -- 0 0.42 Acre
Jones Road #10, Alpine, AL,35014 $30,000 -- -- 1 0.7 Acre

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ByOwner last updated this listing 04/28/2024 @ 04:27

MLS: 21372202
LISTED BY: Noor Jarrar, 2213
SOURCE: Greater Alabama MLS
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.

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