7720 MADRID AVENUE
Birmingham, AL 35206
- – beds
- – baths
- – sqft
- 1964 build
- – on site
20 unit Garden Apartment Buildings at 100% occupancy. Good mix of sec 8 tenants, responsible self-pay, and long-term tenants/residents. Market rents for these units now $800/door. All utilities in tenants' names. New HVAC in all units, new water heaters in large majority, newly refinished parking lot, exterior lighting, new railings for both buildings to code, flooring and paint. Ready for cash flow and appreciation as the Birmingham revitalization has already started moving to the east-laying neighborhoods. Less than 10 miles from downtown, East Lake is a desirable part of the city where tenants can be close to work, family, new shops, and nature. Less than a mile to Birmingham favorite Ruffner Mountain. Professional Management in place with established tenant relationships for ease of transition.
Last checked:
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Last updated Sep 30, 2024
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MLS# 21387421 —
The Building
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Year Built:1964
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Year Built Description:Existing
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Construction:Brick and Frame
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Foundation:Crawl Space
Interior
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Floors:Some Hardwood
Financial & Terms
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Financing:Cash, Conventional
Location
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Directions:From 20/59 head south on Oporto Madrid. Left on Rugby Ave, Left on Madrid Ave, 7720 on left hand side
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Latitude:33.557449
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Longitude:-86.721133
The Property
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Legal Description:POB W INTER RUGBY AVE & MADRID AVE TH W 162S FT ALG RUGBY AVE TH N 154.2S FT TH NE 18S FT TH NW 53S FT TH NE 122 FT TH E 128 FT TO MADRID AVE TH S 288 FT ALG MADRID AVE TO P O B BEING PT LOTS 11 & 12 BLK 1 SO HGLDS OF EAST LAKE & LOTS 18&19 BLK 2 RUGBY GARDENS SUR
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Property Type:Apartment
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Flood Plain:No
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Class:MULTIFAMILY
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Miscellaneous:None/Other
Listing Agent
- Contact info:
- Office phone:
- (205) 733-0354
Taxes
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Parcel ID:23-00-14-2-020-014.000
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Tax District:BIRMINGHAM
The Listing
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Sales Type:N/A
Heating & Cooling
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Cooling:Central Control (COOL)
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Heating:Electric (HEAT)
Utilities
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Water:Public Water
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Sewer/Septic:Connected
Appliances
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Water Heater:Electric (WTRHTR)
Schools
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Elementary School:BARRETT
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Jr/Middle School:OSSIE WARE MITCHELL
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High School:WOODLAWN
The Community
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Subdivision:AL
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Minor Subdivision:EAST LAKE
Parking
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Parking:2 Spaces per Unit
Extra Units
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Total Units:20
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Type 1 Furnished:None
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Type 1 Features:Eating Area-Kitchen, Refrigerator, Sep Dining, Sep Living, Stove
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Type 1 SqFt:754 Sqft
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Type 1 # of Units:20
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Type 1 # Bedrooms:2
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Type 1 # of Full Baths:1
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
9/30/24
Sep 30, 2024
|
Price Changed | GALMLS | $1,350,000 | -10.0% |
|
5/31/24
May 31, 2024
|
Listed / Active | GALMLS | $1,500,000 | 55.4% (53.4% / YR) |
|
5/18/23
May 18, 2023
|
GALMLS | $965,000 | 23.7% (21.7% / YR) |
