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$ 170,000
Est. payment /mo
Price Dropped by $15K
420 20th Avenue Phenix City, AL 36867
4 Beds
2 Baths
1,648 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 1,648 sqft
Price per Sqft $103
Subdivision No Subdivision
MLS Listing ID 231352
Bedrooms 4
Year Built 1995
Lot Size 10,454 Sqft
Property Sub-Type Duplex
Property Description
Investor Opportunity – Are you looking for a CAP rate over 9%? Income-producing duplex with both units currently leased and generating a combined $1,575 per month, providing immediate cash flow and rental stability. Unit A is currently rented at $850 per month with a lease in place through September 2027. Unit B is rented at $725 per month with a lease in place through February 2027. Total current rental income is $1,575 per month, or $18,900 annually. Based on estimated property taxes and insurance, the property offers an estimated cap rate of approximately 9.4% at the current $170,000 asking price before vacancy, maintenance, management and reserves. Additional long-term income potential may exist as leases expire and market conditions allow. At a combined rental income of approximately $1,700 per month, annual gross rental income would increase to $20,400, representing a potential cap rate of approximately 10.3% using current estimated taxes and insurance. Unit A also features an HVAC system replaced in 2024, helping reduce near-term capital expense. Highlights: Asking Price: $170,000 Current Rental Income: $1,575/month Annual Gross Rental Income: $18,900 Unit A: $850/month – leased through September 2027 Unit B: $725/month – leased through February 2027 Estimated Current Cap Rate: 9.4% Potential Combined Rent: approximately $1,700/month Potential Cap Rate at $1,700/month: approximately 10.3% HVAC replaced in 2024 – Unit A Both units currently occupied Immediate income with future rental upside Property may be purchased individually or in conjunction with additional income-producing properties available from the same seller, providing an opportunity for investors looking to expand their rental portfolio. Contact listing agent for additional property and portfolio information. Do not disturb tenants.
Location
State AL
Area Russell
Interior
Heating Electric
Exterior
Parking Features One per Unit
Garage Spaces 2.0
Garage No
Building
Lot Description Less than 1/2 Acre, Level
Sewer Public Sewer
Water Public
Others
Special Listing Condition Standard
Listed by Keller Williams Realty River Cities