700 AQUARIUS DRIVE ALPINE, AL 35014

Here is your chance to acquire a 20 unit value-add apartment complex located directly on Alpine Bay Golf Course, a Robert Trent Jones Golf Course. Investor stopped construction midway through the project. There is plenty of value for the right investor to complete renovations and either hold long term or sell for a large profit (either as an apartment complex or as individualized condos). At full occupancy property will gross approx. $242,400 per year. ARV of approx. $2,500,000 upon completion. Apt Complex Details; 20 Units (16) 2BR/2BA/1,100sqft & (4) 3BR/3BA/1,300sqft. 2/2 Market Rents = $975/mo & 3/3 Market Rents = $1,150/mo. Approx. $320k-$340k construction remaining to complete project. Current Condition in more detail: 8 units are 95% complete (electrical/plumbing replaced, etc. only needs minor cosmetics). 4 units are 60% complete. 8 units are 15% complete (Partial demo has started - Complete rehab required). Happy to share supporting documentation. Creative financing available.

• General Features
  • County Talladega
  • MLS Market Area Talladega County
  • Property Type Apartment
  • Sales Type As Is
  • Subdivision - Minor DOGWOOD HILLS
  • Tenant Pays All Utilities (TENANT)
  • Year Built 1986
  • Year Built Desc Existing
• Building Features
  • Cooling Central w/Ind Ctrl(COOL)
  • IDX Include Yes
  • Foundation Crawl Space
  • Heating Central w/Ind Ctrl(HEAT)
• Room Features
  • Type1 Furnished A/S/N None
  • Type1 Number of Units 20
  • Type1 Number of Bedrooms 44
  • Type1 Number of Full Baths 44
  • Type1 Number of Half Baths 0
  • TYPE 1 FEATURES Den,Fireplace,Sep Dining,Sep Living,Washer/Dryer Connection
• Schools
  • Middle School TALLADEGA CO.
  • High School TALLADEGA