500 Grant St Unit B106, Daphne, AL 36526

Property Description

SEVEN-UNIT CONDO INVESTMENT OPPORTUNITY IN DAPHNE, AL! Expand your real estate portfolio with seven Bay Forest condos available together for $832,000, with one unit included AT NO COST as part of the full seven-unit package! This investment opportunity features four occupied units generating rental income and three vacant, move-in-ready units offering additional leasing potential. The four occupied condos are also offered together for $572,000, with reported gross annual income of $63,700, net operating income (NOI) of $41,392, and a 7.24% pro forma cap rate based on the four-unit offering. The seller prefers a portfolio sale but will consider individual offers. Seller will pay off the temporary HOA special assessment at closing. A $5,000 seller concession is available toward closing costs or a 2-1 rate buydown for the vacant units, subject to applicable terms and lender approval. Occupied units: MLS 395674, 395671, 395670, 395666. Vacant units: MLS 395673, 395672, 395668. Contact us for financials, rental information, and purchase options! Financial figures are based on historical performance and pro forma calculations; future income and returns are not guaranteed. Buyer to verify all information during due diligence.