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1011 Midland Avenue - Brookfield Apartment Homes, Muscle Shoals, AL

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1011 Midland Avenue - Brookfield Apartment Homes

Muscle Shoals, AL 35661-1837

Property Type:Multi-Family Number of Units:48 Status:Existing Year Built:1969
Stories:2 Building Size:50,000 SF Land Area:4 AC (174,240 SF)
For Sale Price:$3,730,000 Price/Unit:$77,708.33 Cap Rate:7.35 % GRM:-

Parking:4 Parking Spaces / 1,000 SF

The bed-bath mix, unit counts and sizes are confirmed per management

Sale Notes:
Marcus & Millichap is proud to offer the exclusive opportunity to purchase the Brookfield Apartment Homes and Bentley’s Place Townhomes. Renovated, remodeled, and re-imaged in 2017, the Muscle Shoals Portfolio offers investors an opportunity to invest into extremely low-cost apartment complexes that are located 1.4 miles from each other. Recent renovations include brand new HVAC, plumbing, windows, appliances, landscaping, security system, completely remodeled units, a recently sealed parking lot and roofs that are eight years old. The apartment complexes have no deferred maintenance, and offer a completely renovated on-site office for a full time manager. The Brookfield Apartment Homes and Bentley’s Place Townhomes have historically high occupancy and rents that are about 10 percent below the market. This allows a potential investor to add value immediately upon purchasing the apartment complexes.

Marcus & Millichap Inc
Patrick Cosgrove
(615) 997-2900 x048

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