Russell County · Phenix City
Sell Your Commercial Property In Phenix City, AL
From Downtown Phenix City to Smiths Station, we buy Phenix City multifamily and commercial apartment properties of 5+ units in every condition. Owners and agents get a straight answer on fit, usually within two business days.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Neighborhoods & Nearby Towns: Downtown Phenix City · Ladonia · Smiths Station · Columbus, Georgia — Russell County and Lee County, AL
Market Snapshot
Renter Demand In Phenix City
Almost half of Phenix City's occupied homes are rented: the Census Bureau counts 7,515 renter households out of 15,783, or about 47.6% (ACS 2020–2024). Median gross rent is $967 a month against a median household income of $50,053, and about 52% of renters spend 30% or more of income on housing.
The city faces Columbus across the Chattahoochee, and the Army post south of Columbus, renamed Fort Benning again in 2025 after two years as Fort Moore, supports more than 120,000 soldiers, family members, retirees and civilians each day, by the garrison's own count. About 12,000 acres of the post sit on the Alabama side of the river.
For owners of apartment buildings, the local details matter most: Class II assessment at 20%, a 59-mill rate inside the Russell County part of the city, and a 1.5% city license tax on residential rent.
Fort Benning across the river
The garrison says the post covers more than 182,000 acres, about 12,000 of them in Alabama, and supports over 120,000 military, family, retiree and civilian personnel daily.Steady flow of Army trainees
Nearly 80,000 soldiers train at Fort Benning each year, according to the garrison, which keeps permanent-party staff, instructors and their families moving in and out of the area.A renter-heavy household base
ACS 2020–2024 data show 7,515 of Phenix City's 15,783 occupied homes are renter-occupied, roughly 47.6%, a large pool for a city of 38,499 people.Our Buy Box
What We Buy In Phenix City
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Phenix City Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Phenix City
Phenix City has 38,499 residents and 15,783 occupied homes, of which 7,515 are rented (ACS 2020–2024). Demand ties closely to the Columbus side of the river and to Fort Benning, where the garrison reports nearly 80,000 soldiers training each year. The installation's name changed from Fort Moore back to Fort Benning in March 2025, now honoring Fred G. Benning, a World War I Distinguished Service Cross recipient (U.S. Army).
Rents and affordability
Median gross rent is $967, and median household income is $50,053. About 52% of renter households spend 30% or more of income on rent and utilities, and 1,932 households, about 26%, spend half or more. HUD sets Fair Market Rents for the bi-state Columbus metro; the FY2026 two-bedroom figure fell slightly from the year before.
| Unit size | FY2025 FMR | FY2026 FMR |
|---|---|---|
| Efficiency | $883 | $895 |
| One-bedroom | $937 | $939 |
| Two-bedroom | $1,108 | $1,088 |
| Three-bedroom | $1,463 | $1,445 |
| Four-bedroom | $1,781 | $1,703 |
Source: HUD Fair Market Rents, Columbus, GA-AL HUD Metro FMR Area.
The apartment stock
Of 18,232 housing units, 12,163 are detached single-family homes. Buildings with five or more units hold 3,929 units, about 21.6% of the stock: 2,179 in 5–9 unit buildings, 1,003 in 10–19, 170 in 20–49 and 577 in properties of 50 or more. The median home was built in 1984. With two-thirds of units in detached houses, apartment buildings are a minority of the stock, and most of the 5+ unit supply sits in smaller properties under 20 units: 3,182 of the 3,929 units. For owners near Downtown Phenix City, Ladonia or Smiths Station, that makes small and mid-size buildings the typical comparable sale.
Property taxes on apartment buildings
Alabama treats rental housing as Class II property, assessed at 20% of appraised value (Alabama Department of Revenue). The Russell County Revenue Commissioner lists 59 mills inside Phenix City: 12 municipal, 28.5 school and the county and state levies. At that rate a building appraised at $1,000,000 carries about $11,800 a year. For taxes collected from October 1, 2025, a 7% cap limits annual increases in Class II taxable value, but the cap drops off when the property sells or is substantially improved, and the state says it runs through the fiscal year beginning October 1, 2027. The Lee County portion of the city carries its own millage.
Landlord rules and local compliance
State law bars local rent control (§ 11-80-8.1). Deposits are generally capped at one month's rent, and a landlord who misses the 60-day refund or itemization deadline owes double the deposit (§ 35-9A-201). Locally, Ordinance 2011-16 imposes a 1.5% license tax on gross residential rent for owners of three or more units, filed quarterly on the city's apartment reporting form.
What this means if you own a building here
A buyer will underwrite taxes at full reassessed value rather than your capped bill, and will deduct the 1.5% rent license tax from net operating income. Because FY2026 FMRs barely moved, rent rolls with many Housing Choice Voucher tenants have limited room for increases this year. Skyline Capital Investments buys 5+ unit buildings in Phenix City and Russell County; you can estimate your building's value, check cap rate math, or request an offer.
Seller Notes
Selling In Phenix City
Before you sell commercial property in Phenix City, AL, here is what we look at first.
More about selling in Alabama →Investing in Phenix City? See apartment syndications in Phenix City →
- Alabama assesses rental property as Class II at 20% of appraised value, double the 10% rate on owner-occupied homes, so apartment taxes run higher than neighboring houses.
- The state's 7% annual cap on Class II assessed value is removed when a property changes ownership, so a buyer's tax bill resets to full assessed value the following year.
- Phenix City charges landlords leasing three or more residential units a business license tax of 1.5% of gross rent inside city limits, reported quarterly on a city apartment form.
- Alabama Code § 11-80-8.1 bars cities and counties from controlling rents, and the state landlord-tenant act caps most security deposits at one month's rent with a 60-day return deadline.
Seller Guides
Your Situation, Handled — Phenix City
Learn More
Taxes & Rules For Phenix City Property
The Alabama rules that shape any deal in Phenix City: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Phenix City Seller FAQ
What is the average rent in Phenix City, AL?
The Census Bureau's ACS 2020–2024 estimate puts median gross rent in Phenix City at $967 a month, including utilities. HUD's FY2026 Fair Market Rents for the Columbus, GA-AL metro, which includes Russell County, are $939 for a one-bedroom and $1,088 for a two-bedroom.
How are apartment buildings taxed in Phenix City?
Rental property is Class II in Alabama and is assessed at 20% of appraised value. The Russell County Revenue Commissioner lists a total rate of 59 mills inside Phenix City, so a building appraised at $1,000,000 would have a $200,000 assessed value and a tax bill of about $11,800 before any adjustments. The part of the city in Lee County has a different rate.
Does Phenix City have rent control?
No. Alabama Code § 11-80-8.1 prohibits any county, city or town from enacting or enforcing rules that control the rent charged for private property. Landlord-tenant matters fall under the Alabama Uniform Residential Landlord and Tenant Act, which limits most security deposits to one month's rent.
What share of Phenix City residents rent?
About 47.6%. The ACS 2020–2024 estimate counts 7,515 renter-occupied homes out of 15,783 occupied homes. Roughly 52% of renter households pay 30% or more of income on gross rent, and about 26% pay half or more.
Do landlords need a license to rent apartments in Phenix City?
Yes. Under Ordinance 2011-16, anyone leasing three or more residential units in the city is in the business of residential rental and owes a license tax of 1.5% of gross rent inside the corporate limits, or half that rate in the police jurisdiction, collected quarterly.
What if my Phenix City building has vacancies or deferred maintenance?
That is often where we add the most value. We buy buildings that need renovation, new management, or lease-up, and we account for that in our offer.
How does a sale to you work in Russell County?
Send the address, unit count, and any financials. We give feedback, then a written letter of intent if it fits, followed by diligence and a closing date that works for you.
Can I sell rental property in Phenix City with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
Do I need a broker to sell my apartment building in Phenix City?
No. You can work with us directly, or your broker can bring the deal to us. Either way, conversations stay confidential.
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