Multifamily Opportunity | 105 Units (Studio Apts/Motel Rooms)

Multi-Family for Sale
Also listed as Hospitality
Catylist Listing ID: 30606562
Property Subtypes: Duplex/Fourplex, Government Subsidized, Low-Rise/Garden, Mixed Use, Senior Living, Student Housing, Other
Number of Units: 105 Units
Building Size (RSF): 43,568 SF
Gross Building Area: See Agent
Gross Land Area: 4.09 Acres
Sale Price: $1,800,000
Unit Price: $17,142.86 Per Unit
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: Former Siesta Motel
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 5/17/2020

Overview / Comments

Studio Apartments with Kitchen: 15 units
Apartments with Kitchen: 20 units
Single motel rooms (No kitchen): 30 units
Single motel rooms (No kitchen): 40 units
(Through the Lobby- there is a stairway leading upstairs to private quarters with a kitchen.)

- Existing Swimming Pool

- Laundry facility and “club house” area by the Pool

- Storage area

- Existing Playground

- All buildings have metal roofs (installed 2006) except for the single floor buildings.

+ in Opportunity Zone
+ Just over 4 acres of Development Site available in Irondale, AL
+ Excellent Interstate Visibility
+ Perfect for Studio Apartments, Senior Living Facilities, Mixed-Use, Hospitality or Light Industrial

Additional Details

Nearest MSA: Birmingham-Hoover
County: Jefferson
Taxing Authority: Jefferson County
Tax ID/APN: 2300244001011000
Percent Occupied: 0%
Community Amenities: Outdoor Pool, Play Ground
Property Located Between: Golden Rule BBQ
Highway Access: I-20
Site Description: + Easy access from both Crestwood Blvd & Grants Mill Road
Area Description: + Located off I-20, Exit 133 with visibility to 56,862 VPD
Total Number of Buildings: 9
Number of Stories: 2
Parking Type: Surface
Laundry: Shared

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,306 41,215 112,396
Median Age: 38.67 38.99 38.61
Households: 2,126 16,765 46,387

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