About This Home
This 0-bedroom, 0-bathroom residential multi family at 4560 Lott Road W in Eight Mile, AL is listed for $315,000. on a 4.66 acres lot.
Key Features
- 4.66 acre lot
Property Details
Amenities
This income-producing property offers a significant value-add opportunity with 5 park-owned homes currently generating $4,100 in monthly gross income. The site sits on 4.66 flat, mostly clear acres featuring an asphalt driveway extending to the rear, with power and water lines already in place.
There are no zoning restrictions or requirements for this property. To proceed with development, simply submit a site plan directly to the City of Semmes for approval. This property offers significant income-growth potential, with the immediate opportunity to add eight additional pads.
Financials: Gross Annual Rent: $49,200 Annual Expenses: $5,710 NOI: $43,500 Cap Rate: ~13.38% This property provides strong cash flow, a high yield, and low overhead. Property viewings are permitted following contract acceptance. All offers must include proof of funds or pre-approval for a commercial property. The water is on a single meter with a $200 monthly cost, which is paid by the park owner. All electricity and other power utilities are separately metered and paid for by the tenants.
Monthly Cost Estimate
$1,685/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
4560 Lott Road W
Eight Mile, AL 36613
Metes & Bounds
Property Details
Flooring
Heating
Cooling
Questions & Answers
This 0-bedroom, 0-bathroom residential multi family at 4560 Lott Road W is listed at $315,000. The estimated monthly payment is $1,685 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: 4.66 acre lot.
This property is listed by Rashmi Lumpkin and can be reached at 2513915265.