Welcome to Ridgewood Apartments, a 44-Unit community that underwent a complete rehabilitation down to the studs in 2020. The renovation included updated electrical & plumbing systems, new roofs, bathrooms, flooring, windows & improvements to the grounds. The property consists of 44 one-bedroom / one-bathroom units, with approximately 100% occupancy. Ridgewood generates a strong current income with an existing rent roll totaling $32,965/monthly, offering investors the opportunity to acquire a recently renovated, well maintained multifamily property with strong occupancy and established rental income.
For sale
$2,975,000
1517 Cullman Ave, Birmingham, AL 35208
1beds
795sqft
Apartment
Built in 1930
-- sqft lot
$-- Zestimate®
$3,742/sqft
$-- HOA
What's special
New roofsImprovements to the grounds
- 31 days
- 359
- 30
Zillow last checked:
Listing updated:
Listed by:
Joey Valekis 205-222-9780,
ARC Realty Vestavia,
Billy Valekis 205-243-5744,
ARC Realty Vestavia
Source: GALMLS,MLS#: 21462708
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 1
- Bathrooms: 1
- Full bathrooms: 1
Heating
- Window Units (HEAT)
Cooling
- Window Unit(s)
Appliances
- Included: Cooktop, Tankless Water Heater
- Laundry: Washer/Dryer Connection
Features
- Den, Kitchenette
- Flooring: Laminate, Carpet
- Basement: Crawl Space
Interior area
- Total interior livable area: 795 sqft
Video & virtual tour
Property
Parking
- Parking features: On Street, Other
- Has uncovered spaces: Yes
Details
- Parcel number: 2200324003001.000
- Special conditions: N/A
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Apartment
Materials
- Siding
Condition
- Year built: 1930
Utilities & green energy
- Water: Public
- Utilities for property: Sewer Connected
Community & HOA
Community
- Subdivision: None
Location
- Region: Birmingham
Financial & listing details
- Price per square foot: $3,742/sqft
- Tax assessed value: $2,520,000
- Annual tax amount: $18,270
- Price range: $3M - $3M
- Date on market: 8/20/2026
- Tenant pays: All Utilities
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/20/2026 | Listed for sale | $2,975,000+310.3%$3,742/sqft |
Source:  GALMLS #21462708 Report a problem | ||
| 1/23/2024 | Sold | $725,000-69.8%$912/sqft |
Source: Public Record Report a problem | ||
| 1/8/2021 | Sold | $2,400,000+713.6%$3,019/sqft |
Source: GALMLS #1273429 Report a problem | ||
| 5/13/2020 | Sold | $295,000$371/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $18,270 +1.3% | $252,000 +1.3% |
| 2024 | $18,039 | $248,820 |
| 2023 | $18,039 -43.5% | $248,820 -43.5% |
| 2022 | $31,919 +96.6% | $440,260 +96.6% |
| 2021 | $16,231 +124.8% | $223,880 +124.8% |
| 2020 | $7,220 | $99,580 |
| 2019 | $7,220 +18.9% | $99,580 +18.9% |
| 2018 | $6,070 | $83,720 |
| 2017 | $6,070 | $83,720 |
| 2016 | -- | $83,720 +1.9% |
| 2015 | -- | $82,180 +1.1% |
| 2014 | $6,215 | $81,300 |
| 2013 | $6,215 | $81,300 -1.1% |
| 2012 | $6,215 | $82,180 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: Bush Hills
Nearby schools
Schools provided by the listing agent
- Elementary: Minor
- Middle: Bush Hills Academy
- High: Jackson - Olin
Source: GALMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
