NOT LISTED FOR SALE

0 Schoel Ln Unit PPIN 89355 & 252654 Gulf Shores, AL 36542

36 Beds
18 Baths
1,704 Sq Ft
1.08 Acres

Last Sold August 16, 2024

Last sale price $1,600,000 $939 Per Sq Ft

5 Days on Market

Highlights

  • 1.08 Acre Lot
  • No HOA
  • Tile Flooring
  • Gulf Shores Elementary School Rated A-
  • Rear Porch
  • Central Heating and Cooling System

About This Home

As of August 2024

Discover a rare and remarkable investment opportunity in Gulf Shores! This affordable 18-unit apartment complex is an investor’s dream, with these maintained units that promise consistent returns and long-term value. Situated in Gulf Shores, this complex benefits from its proximity to key amenities, including Sports Plex, restaurants, schools, The Factory Trampoline park and recreational facilities. Each apartment unit offers 1,704 square feet of thoughtfully designed living space, ensuring comfort and functionality for residents. With 2 bedrooms and 1 bathroom, with Washer Dryer Connections, these units are perfect for families, professionals, and retirees alike. The apartments are in good condition, and have been maintained. The complex has a strong occupancy rate, a testament to its desirability and the high demand for rental units in this area. The affordable rent rates not only ensure high occupancy but also provide an attractive living option for a broad demographic, guaranteeing a steady stream of rental income.This property presents an exceptional investment opportunity with its combination of affordable pricing, prime location, and high occupancy rates. These maintained units require minimal immediate investment, allowing new owners to start generating income from day one. Additionally, the potential for appreciation in this thriving community adds to the long-term value of this investment. BEING SOLD AS-IS INFORMATION DEEMED RELIABLE BUT IS NOT GUARANTEED - BUYER TO VERIFY ALL INFORMATION CONTAINED HEREIN Buyer to verify all information during due diligence.

Last Agent to Sell the Property

Cheryl Ritchie

RE/MAX of Orange Beach Listed on: 06/20/2024

RE/MAX of Orange Beach

Last Buyer's Agent

Susan Carleton

Pointe South

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,823

Year Built

  • Built in 1988

Lot Details

  • 1.08 Acre Lot
  • 2 Lots in the community

Home Design

  • Slab Foundation
  • Metal Roof
  • Vinyl Siding

Interior Spaces

  • 1,704 Sq Ft Home
  • 1-Story Property
  • Ceiling Fan
  • Combination Dining and Living Room
  • Tile Flooring
  • Cooktop

Bedrooms and Bathrooms

  • 36 Bedrooms
  • 18 Full Bathrooms

Schools

  • Gulf Shores Elementary School
  • Gulf Shores Middle School
  • Gulf Shores High School

Additional Features

  • Rear Porch
  • Central Heating and Cooling System

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 6109370000179.002 & 6109370000179.003

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,823

Year Built

Built in 1988

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • View: None/Not Applicable
  • Parcel Number: 6109370000179.002 & 6109370000179.003
  • Year Built: 1988
  • Property Sub-Type: Multi Family
  • ResoCommunityFeatures: None
  • Lot Size Acres: 1.075
  • Co List Office Phone: 251-981-2400
  • Ownership: Whole/Full
  • MLS Status: Closed
  • Subdivision Name: Not Applicable
  • ResoBuildingAreaSource: Assessor
  • Carport Y N: No
  • Reso Fireplace Features: None
  • Reso Interior Features: Ceiling Fan(s)
  • Unit Levels: One
  • Living Area: 1704
  • New Construction: No
  • ResoPropertyCondition: Resale
  • Reso Structure Type: Single Story
  • Financial Info Electric: Baldwin EMC
  • ResoBuildingAreaSource: Assessor
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Cooktop, Refrigerator
  • Full Bathrooms: 18
  • Total Bedrooms: 36
  • Fireplace: No
  • Flooring: Tile
  • Stories: 1
  • ResoLivingAreaSource: Assessor
  • Dining Room Features: Lvg/Dng Combo
  • Master Bedroom Features: Other - See Remarks

Exterior Features

  • Roof: Metal
  • Waterfront: No
  • View: No
  • Waterfront Features: No Waterfront
  • Home Warranty: No
  • Construction Type: Vinyl Siding
  • Foundation Details: Slab
  • Patio And Porch Features: Rear Porch

Garage/Parking

  • Attached Garage: No
  • Parking Features: See Remarks

Utilities

  • Utilities: Gulf Shores Utilities
  • Cooling: Central Electric (Cool)
  • Cooling Y N: Yes
  • Heating: Central
  • HeatingYN: Yes

Condo/Co-op/Association

  • Association: No

Schools

  • Middle Or Junior School: Gulf Shores Middle

Lot Info

  • Lot Size Sq Ft: 46827
  • ResoLotSizeUnits: Acres
  • Number Of Lots: 2
  • ResoLotSizeUnits: Acres

Rental Info

  • Furnished: Unfurnished

Tax Info

  • Tax Annual Amount: 4823.2

MLS Schools

  • Elementary School: Gulf Shores Elementary
  • HighSchool: Gulf Shores

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/16/2024 08/16/24 Sold $1,600,000 -8.6% $939 / Sq Ft
06/26/2024 06/26/24 Pending -- -- --
06/20/2024 06/20/24 For Sale $1,750,000 -- $1,027 / Sq Ft
Source: Baldwin REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Baldwin REALTORS®

MLS Number: 363955

Baldwin REALTORS®