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106 Reed Drive 106, Columbiana, AL 35051

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For Sale
Sale Pending

$84,900

5.43 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • 5.4 acres
    Lot size

Explore this Property

Opportunity knocks. 5.43 surveyed acres inside Columbiana city limits, zoned RMH Residential District (Mobile Homes), with income in place and room to grow. Two long-term tenants (20+ and 10+ years) paying lot rent only. Current gross rent $590/month ($7,080/year) with low expenses (~$1,500/year), estimated 6% cap rate. Property is priced below land value to reflect condition: land is overgrown, two non-working truck trailers, a non-working boat, and a shed beyond repair. This is a value-add opportunity for the investor or visionary buyer. Hold for cash flow, clear for development, or reposition for future gain. Please respect tenant privacy tenants own their mobile homes, and one tenant has two outdoor dogs. Showings by appointment only. Rare investment potential with income today and possibilities for tomorrow.
MLS# 21421653

Courtesy Of ARC Realty, LLC

(205) 969-8910

Property Features

  • Architecture Style
    Other
  • Lot Size
    5.43 Acres

Map and Directions

Directions to 106 Reed Drive 106, Columbiana, AL 35051

Home seller CENTURY 21 Advantage

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Advantage

(205) 823-6677
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Monthly Payment Breakdown

  • Principle and Interest
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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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