3701 Wesley Drive, Montgomery, AL 36111 (MLS # 581579)

Price $1,049,900
Status Active
Beds 0
Baths 0 Bath
Home size n/a
Lot Size n/a
Days on Market 21
INVESTORS DREAM!!! Great 22-unit apartment building with huge upside potential. 17 of 22 units have been fully renovated and have tenants in them. There remains five units to be remodeled. This is a great investment. All 1 Bedroom units are 900+ square feet and the 2 Bedroom apartments are 1000+ Sq/Ft with large patio/balconies. There is an incredible courtyard out back offering residents a place to rest and relax among nature. Two of the members of the company who owns the property are licensed Alabama and Georgia real estate agents There are three 1 bedroom 1 bath units, all have been renovated. There are fifteen 2 bedroom 1 bath units, all but three have been renovated. There are four 2 bedroom 2 bath units, all but two have been renovated. Owner pays water and trash ($27/can) as well as the electricity for the outdoor lights. | *** 2025 fire damaged 2 units not yet renovated & roof of one building*** ***Asbestos discovered in drywall / sheetrock joint compound in burned building*** ***Abatement estimates available upon receipt of POF*** | ***VALUE ADD OPPORTUNITY*** -Due to the large unit sizes 900 & 1,000 square ft, an additional bedroom could be added. -5 units are left to be renovated -Below market rent based on the Montgomery Housing Authority last updates -1 Br up to $932 -2 Br up to $1108 -3 Br up to 1432 -Laundry facility & vending machine additions. -Add new roof. -Located in Opportunity Zone providing additional tax incentives.
Property Type(s): Residential Income
Last Updated 11/13/2025 Tract Normandale
Year Built 1963 Community MONT-Central Montgomery/ Cloverdale/ASU
County Montgomery

Additional Details

AIR Central Air, Electric
AIR CONDITIONING Yes
AMENITIES Maintenance Grounds, Maintenance Structure
APPLIANCES Electric Cooktop, Electric Oven, Electric Water Heater, Gas Water Heater
AREA MONT-Central Montgomery/ Cloverdale/ASU
CONSTRUCTION Brick
HEAT Central, Electric, Natural Gas
INTERIOR Breakfast Bar, High Speed Internet
LOT DESCRIPTION City Lot
PARKING Concrete, Driveway, Parking Pad
POOL DESCRIPTION None
SEWER Public Sewer
STORIES 2
STYLE TwoStory
SUBDIVISION Normandale
TAXES 4380
UTILITIES Cable Available, Electricity Available, Natural Gas Available
WATER Public

Location

 

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Listed with Norluxe Realty Montgomery
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