19691 Highway 28

Unique investment opportunity featuring an established, gated rental community situated on approximately 6.7 acres outside the city limits of Linden, Alabama. This income-producing property includes three single-family rental homes, six additional apartment units, a reported 10,000-square-foot commercial shop, a stocked fishing pond, recreational land, and potential for future expansion. Three Single-Family Rental Homes: All three homes are currently occupied by long-term tenants. Each features a metal roof, kitchen appliances, laundry space, and a porch. Home 1 offers 2 bedrooms and 1 bathroom, renting for $650/month. Home 2 offers 3 bedrooms and 1 bathroom, renting for $750/month. Home 3 offers 2 bedrooms and 1 bathroom, renting for $650/month. Six Additional Apartment Units: The larger apartment building contains four individual units, each featuring a bedroom, living area, kitchen, full bathroom, laundry hookups, and central heating and cooling. Two units are offered at $650/month each, and two at $550/month each. Three of these units are currently vacant, providing an opportunity for additional rental occupancy. The smaller apartment building contains two additional occupied units renting for $525/month each. An attached covered pavilion with picnic tables and a cooler provides a shared outdoor gathering area. Commercial Shop: The property includes a reported 10,000-square-foot shop currently rented for $350/month. Additional storage space presently utilized by the owner offers potential for supplemental rental income. Land and Recreational Features: The approximately 6.7-acre property features an iron-gated entrance, paved access, individual parking areas, a stocked pond containing bass, bream, and catfish, a designated deer hunting area, and a creek along the rear of the property. The community is supplied by an artesian well, reportedly serviced with new components in 2025. Overflow from the well feeds the pond. Additional power and water access near the well house may provide opportunities for future development, subject to applicable approvals and feasibility. Investment Potential: Based on seller-provided rental rates, the property offers approximately $5,850 in potential monthly gross rental income, or $70,200 annually, at full occupancy. The seller reports annual property taxes of approximately $2,000 and annual insurance expenses of approximately $7,200, along with relatively modest recurring utility expenses. An estimated 14.9% projected capitalization rate is based on full occupancy and reported operating expenses, excluding vacancy, maintenance, repairs, management, and capital reserves. The seller is willing to provide maintenance contacts to assist with ownership transition. With multiple established rental units, commercial space, recreational amenities, and potential for additional income streams, this property presents a distinctive investment opportunity in Southwest Alabama. Offered at $399,000. Schedule your private showing to explore the possibilities of this unique rental community. All rental income, expenses, occupancy information, property features, and square footage are based on seller-provided information. Three apartment units are currently vacant. Rental income projections are not guaranteed. Buyer to independently verify all information, including shop square footage, well and septic systems, permitted uses, and development potential.