Solid multifamily investment in the growing Eastlake/Woodlawn area of Birmingham. This 10-plex offers spacious 2 bedroom, 1 bath units averaging 650 sq. ft. each. Several units have been fully renovated, providing immediate value and appeal to tenants. Currently, 8 of the 10 units are leased with rents ranging from $600–$625/month, ensuring steady cash flow from day one. With upside potential in rental growth and continued renovations, this property is well-positioned for long-term returns.
South Eastlake, located between Ruffner Mountain and East Lake Park, is a historic and residential Birmingham neighborhood with early-20th-century bungalows and a lakefront greenbelt. The neighborhood’s character concentrates around the East Lake Park entrance on 84th Street, where ballfields, walking paths, and picnic lawns set a weekend rhythm. Nearby, the Ruffner Mountain Nature Preserve trailheads frame daily routines around ridge hikes and overlooks. Blocks of brick cottages and modest Craftsman homes give the streetscape a steady, lived-in texture. Community life often orbits park events and outdoor recreation rather than a single retail strip.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Living
Interior features
Laminate flooring
Wall-to-wall carpet
Den
Eating area in kitchen
Bedrooms
Two-bedroom units
Bathrooms
One full bath per unit
Kitchen
Refrigerator
Stove
Laundry & utility
Electric water heater
Flooring
Laminate
Wall-to-wall carpet
Heating & cooling
Central heating
Window heating units
Central cooling
Window cooling units
Exterior features
Crawl space foundation
Not in a flood plain
Subdivision: Rugby Gardens
Home design
Brick construction
Existing building
Parking
On-street parking
Construction
Brick exterior
Crawl space foundation
Utilities
Public water
Connected sewer
Trash collection paid by owner
Electric water heater
Financial info
Property configured as 10-unit building
Expenses listed as $1,000 per month (expense term: per month)
Other
Tenants pay cable/TV connection, electricity, and water/sewer
Electricity and solar
View estimated energy costs and solar savings for this home
Three of the units are recently fully rehabbed, and vacant. One of the units had a fire and was stripped down to stud. Barrington has managed it for the past few years. The new units will rent for $650-700. The property is currently off-market, but I expect it will be on the market by week-end.
Public Records
Nov 29, 2016
Sold
$151,300
$23/sq ft
Public Records
Jan 2, 1979
Sold
$112,770
$17/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$3,803
2024
$3,803
2023
$3,803 (+32.5%)
2022
$2,870
2021
$2,870 (+0.4%)
2020
$2,859
2019
$2,859 (+26.6%)
2018
$2,259 (−16.7%)
2017
$2,713 (+22.5%)
2016
$2,214 (+5.2%)
2013
$2,105
Public record
Public record
Zoning
Permits
Beds
—
Baths
1
Stories
2
Lot width
167 ft.
Lot depth
120 ft.
Lot size
—
Year renovated
—
Finished Sq. Ft.
6,548
Unfinished Sq. Ft.
—
Total Sq. Ft.
6,548
Year built
1963
Style
Condo/Co-op
County
Jefferson County
APN
23 00 14 2 023 002.001
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 27, 2026.
MUL
Mixed-Use Low
The mixed use low district is designed to be compact, walkable, and contain residential and commercial areas, often with a Main Street spine that historically served as a town center with two- to threestory buildings. Uses can be mixed horizontally (side-by-side), or vertically (one above the other). Uses in this district include: multi-family, townhouse, cottage and small-lot single-family residential, neighborhood supporting retail and services, offices, hotels and live/work structures. Main Street areas would typically be characterized by ground-floor uses including small markets, convenience retail and services, restaurants and cafes, and existing or potential residential uses on upper floors.
Permitted uses
Include but are not limited to:
Bank
General retail
Restaurant
Housing-Single unit
Housing-Multiple units
Mixed use-Other
Office
Public service
Golf related
Park & open space
Jul 31, 2024 • Active
Plumbing
Plumbing
May 10, 2024 • Active
Electrical
Electrical
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
6/10 Heat Factor
7 days above 106° expected this year, 20 days in 30 years
6/10 Wind Factor
27% chance of strong winds in next 30 years
5/10 Air Factor
7 unhealthy days expected this year, 9 days in 30 years
Provided by First Street
Historical weather
Birmingham, AL • 35206
Average low and high temperatures (°F)
50
30
61
40
71
48
77
55
78
61
85
68
89
72
85
68
84
65
76
53
67
46
55
37
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
86/ 100
Very good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
9.7 hrs
6.1 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 7735 Rugby Ave
There isn’t enough information to generate an accurate estimate at this time. Learn More