Sunrise Square Apartments 203 E Chestnut St Immeuble residentiel 32 lots 845 552 € (26 424 €/Lot) Gadsden, AL 35903

Gadsend Apartments presents a rare opportunity to acquire a well-located, 32-unit multifamily complex in the heart of Gadsden, Alabama. With long-term tenants, solid occupancy, and strong demand for affordable housing in the region, this property is a reliable income-producing asset with value-add potential. Located just minutes from Gadsden State Community College and within walking distance to retail centers, public schools, and transit options. This central location makes it highly attractive to tenants seeking affordability without sacrificing access to essential services. Property has Extra Land that could sell for for an estimated 150-300k. New government development next door
24 Efficiency style units. Rents for $475
4 1 bedroom units. Rents for $530
4 plex. It’s completely gutted. (Could be efficiency or 1 bedrooms/or convert it to a duplex with 3/1 bath each)
1 house. 2/1 bath needs gutted and rehabbed. Could be renovated and sold off separately.
1 building with laundry and storage.
Electric is sub metered and water is not. Owner pays for all of the water. Runs about 700 a month. All units are set up with window ac and baseboard heaters.
Enough land to build 30-40 more units.
With some clean up and improving the aesthetics could command a higher rental price per unit.