107 Bailey Street
Rainbow City, AL 35906
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Bed
0
Bath
1.83Acres(Lot)
Instant Income-Producing Investment Opportunity! Seize this exceptional opportunity to own a 38-unit apartment complex providing historical occupancy and rental income from day one. This well-maintained property features a desirable unit mix of 31 two-bedroom units with 1½ bath and 7 one-bedroom units with 1 bath appealing to a broad range of tenants. Located in Rainbow City, an economical and residential bright spot within the Gadsden and Etowah County area just minutes from shopping, schools and major interstate access. This apartment complex presents an outstanding opportunity with long-term growth potential.
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Interior Features
Appliances: Refrigerator, Oven Laundry Features: Washer Hookup -
Heating & Cooling
Has Heating: Yes Heating: Central Has Cooling: Yes Cooling: Central Air
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Building Information
Year Built: 1976 Building Area Total: 28000 Construction Materials: Frame Patio And Porch Features: Patio Private Pool: No
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Lot Information
Main Square Feet: 1.83 Acres Lot Size Acres: 1.83 Lot Size Square Feet: 79714.8Property Information
Subdivision: J. Lowery Rogers Source Property Type: Residential Income MLS Area Minor: Rainbow City Zoning Description: Multi Family Property SubType: Apartment Property Age: 50
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Listing Price Information
Listing Price: $2105000 Conventional, Cash
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Tax Information
Parcel Number: 1509291000012.000 Tax Lot: 9-20 Tax Block: 2 Tax Year: 2025 Annual Tax: $8679 Tax Legal Desc: H/S BASE YEAR - LTS 9-20 BLK 2 J LOWREY ROGER SUB PLAT D-15 RAINBOW CITY 29-12-6 1166-269,1373-733,1394-799,D-2004-4125,D-2008-3302138 3 different parcels
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Parking Information
Parking Total: 42 Private, Lighted, Parking Lot
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School Information
Elementary School: John S Jones ElementaryJunior High School: RainbowSenior High School: Southside High School -
Location Information
Direction: From Gadsden Mall, Drive 411 S Towards Rainbow City. Turn Right Onto Hollingsworth Ave, Right Onto Wren Ave, Property On The Left. WaterSource: Public Security Features: Smoke Detector(s)
How much is this property worth?
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| LOT 3 Sweetwater Lane, Rainbow City, AL, 35906 | $24,900 | -- | -- | -- | |
| LOT 19 Sweetwater Lane, Rainbow City, AL, 35906 | $24,900 | -- | -- | -- | |
| 311 Meadow Street, Rainbow City, AL, 35906 | $185,000 | 3 | 2 | 1,177 | 1,177 SqFt |
| 309 Meadows Drive, Rainbow City, AL, 35906 | $179,900 | 3 | 2 | 1,190 | 1,190 SqFt |
| 100 Norwood Drive, Rainbow City, AL, 35906 | $499,900 | 5 | 5 | 4,188 | 4,188 SqFt |
| 207 Hummingbird Way, Rainbow City, AL, 35906 | $569,900 | 5 | 4 | 4,822 | 4,822 SqFt |
| 3338 Wilson Avenue, Rainbow City, AL, 35906 | $75,000 | -- | -- | -- | |
| 106 Yorkshire Place, Rainbow City, AL, 35906 | $349,900 | 3 | 2 | 2,275 | 2,275 SqFt |
| 326 Autumnwood Drive, Rainbow City, AL, 35906 | $205,000 | 3 | 2 | 1,407 | 1,407 SqFt |
| 402 Havenwood Lane, Rainbow City, AL, 35906 | $335,500 | 4 | 2 | 2,081 | 2,081 SqFt |
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©2026 ValleyMLS.com. This content last refreshed on 08/12/2026 @ 20:48. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. Information Deemed Reliable But Not Guaranteed.
ByOwner last updated this listing 08/12/2026 @ 20:48
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