613-619 Watts Street Montgomery, AL 36104
A diamond in the rough multi-family investment opportunity! This 16-unit concrete block apartment complex is a total rehab but has the potential to bring in $950 per unit after the apartments are fixed up. The current owner has started the renovation by installing a brand new architectural shingled roof and replacing all the rotten fascia. The after repaired value of the complex is estimated to be approximately $1.1 million. Pro-forma rents are $182, 400 per year at $950/month. The complex would be a perfect student housing complex as it is located within walking distance to a 4-year University. The complex is also located within minutes of the many historical attractions in Montgomery including the nationally acclaimed Equal Justice and Freedom Museum and Monument and the $90 million white water adventure park. Montgomery was named the #1 historical city in the United States by USA Today in 2014 and was listed on the NY Times list of "50 places you must visit before you die." Come experience the southern hospitality of Montgomery and attractive investment opportunities as Alabama has the lowest property taxes in the continental U.S. As an extra tax incentive the complex is in an opportunity zone.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyMontgomery
- Taxes$960
- HOA/Condo/Coop Fees$0
- Days on Site665 Days
- MLS StatusActive
- MLS ID Number523942
- Home Size Source N/A
- Year Built1950
- Lot Size Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Style Two Story
- Construction BlockConcrete
- Parking AsphaltDriveway
- Sewer Public Sewer
- Number of Stories 22
- Water Public
- Utilities Cable AvailableNatural Gas Available
- Foundation Slab
Interior Features
- Cooling None
- Heating Wall Furnace
- Appliances Electric Water Heater
- Flooring Tile
- Interior Eatin Kitchen
Exterior Features
- Pool Features None
- Lot City Lot
Community Features
- MLS Area MONT-N Montgomery City