Multi-family Sleeper Deal in Decatur, Alabama (8 units)

[Jared Dison]

Listen up! I've got eight units (two buildings) located in Historic downtown Decatur, Alabama which is part of the Huntsville metropolitan area. This is a VALUE-ADD situation. The previous owner was an elderly woman who let the property fall into disrepair. It will take at least $50 -$100K to get this up to market spec. This has potential for the BRRRR strategy or just a straight flip. The property is in a class A neighborhood and within walking distance to downtown. If you are handy or have good contacts with contractors this is a chance to make some profit. Property is approx. one half acre of land with two brick quads. Seven of the units are 1/1 and one unit is 2/1. Split electrical meters on the units. After rehab market rates here would support $450-$600 per month per unit. Price has been reduced to $250,000 but all offers are welcome at this point. I'm serious. Run your numbers and make me an offer. There are two similar comps right now on Realtor.com just a block away to be sold together for $550k. Contact me for a showing or detailed info.