Willowtree Apartments

3701 Dauphin Island Parkway, Mobile, AL

16.06% return

SP: $999,900

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Property Description

INSANE VALUE ADD AND CASHFLOW OPPORTUNITY!!!

32 units in 3 buildings. BRAND NEW ROOFS!!! Central heat and air. Separate electric meters. City water and sewer. B CLASS AREA!!!! Located in beautiful & booming Mobile, AL, home to AirBus plant and Port of Mobile. LESS THAN $32K PER UNIT IN A $70K PER UNIT MARKET!!! $1,016,400 TOTAL ASSESSED VALUE!!! Units need cosmetics, perfect for renovate and refinance!!! PROPERTY WILL GENERATE A 16%+ NET RETURN ON INVESTMENT!!! OVER $770K+ IN UPSIDE!!!

Do not miss out on this amazing opportunity.

Property Information

Listing statusActive
Property typeMulti Family
Total units32
Total bedrooms32
Total bathrooms32
Building size17,566 sq. ft.
Lot size1.1 acres
Year built1978

CountyMobile County
SubdivisionWillowtree
ConstructionFrame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral

Property Financial Summary

Sale price$999,900
Estimated rehab¹$480,000
Total investment$1,479,900

TypeProforma
After repair value$2,250,000
Potential profit$770,100

Gross income (annually)$326,400
Operating expenses (annually)$88,732
Net income (annually)$237,668
Gross return22.06%

Gross income (monthly)$27,200
Operating expenses (monthly)$7,394
Net income (monthly)$19,806
Net return16.06%

Property Income & ExpensesMonthlyAnnual

Income

Building 1
Unit 101: 1 bed / 1 bath$850/month$10,200/year
Unit 102: 1 bed / 1 bath$850/month$10,200/year
Unit 103: 1 bed / 1 bath$850/month$10,200/year
Unit 104: 1 bed / 1 bath$850/month$10,200/year
Unit 105: 1 bed / 1 bath$850/month$10,200/year
Unit 106: 1 bed / 1 bath$850/month$10,200/year
Unit 107: 1 bed / 1 bath$850/month$10,200/year
Unit 108: 1 bed / 1 bath$850/month$10,200/year
Building 2
Unit 117: 1 bed / 1 bath$850/month$10,200/year
Unit 118: 1 bed / 1 bath$850/month$10,200/year
Unit 119: 1 bed / 1 bath$850/month$10,200/year
Unit 120: 1 bed / 1 bath$850/month$10,200/year
Unit 121: 1 bed / 1 bath$850/month$10,200/year
Unit 122: 1 bed / 1 bath$850/month$10,200/year
Unit 123: 1 bed / 1 bath$850/month$10,200/year
Unit 124: 1 bed / 1 bath$850/month$10,200/year
Unit 125: 1 bed / 1 bath$850/month$10,200/year
Unit 126: 1 bed / 1 bath$850/month$10,200/year
Unit 127: 1 bed / 1 bath$850/month$10,200/year
Unit 128: 1 bed / 1 bath$850/month$10,200/year
Unit 129: 1 bed / 1 bath$850/month$10,200/year
Unit 130: 1 bed / 1 bath$850/month$10,200/year
Unit 131: 1 bed / 1 bath$850/month$10,200/year
Unit 132: 1 bed / 1 bath$850/month$10,200/year
Building 3
Unit 109: 1 bed / 1 bath$850/month$10,200/year
Unit 110: 1 bed / 1 bath$850/month$10,200/year
Unit 111: 1 bed / 1 bath$850/month$10,200/year
Unit 112: 1 bed / 1 bath$850/month$10,200/year
Unit 113: 1 bed / 1 bath$850/month$10,200/year
Unit 114: 1 bed / 1 bath$850/month$10,200/year
Unit 115: 1 bed / 1 bath$850/month$10,200/year
Unit 116: 1 bed / 1 bath$850/month$10,200/year
Total$27,200/month$326,400/year

Expenses

Property Taxes$669/month$8,029/year
Insurance (estimated)$1,500/month$18,000/year
Lawn care$200/month$2,400/year
Maintenance reserve$2,000/month$24,000/year
Security Lights$168/month$2,013/year
Water and Sewer$1,152/month$13,821/year
Waste Collection$206/month$2,469/year
Property Management$1,500/month$18,000/year
Total$7,394/month$88,732/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.