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2800 Montrose Avenue, Montgomery, AL

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2800 Montrose Avenue

Montgomery, AL 36109-2005 - Outer East MF Submarket

Property Type:Multi-Family Number of Units:66 Status:Existing Year Built:-
Stories:1 Building Size:103,415 SF Land Area:-
For Sale Price:$6,300,000 Price/Unit:$95,454.55 Cap Rate:- GRM:-


Sale Notes:
This 66 home portfolio is located in three of the largest MSAs in Alabama; Birmingham, Montgomery, and Huntsville. Alabama boasts one of the top five highest potential single family returns in the nation according to at 78.4%. Alabama is projected to grow at a moderate 3 to 4 percent per year with the majority of growth in Huntsville. According to the Department of Numbers, Alabama rents are up 2.1% over the last year, while vacancy has decreased 0.65%. As a secondary real estate market, Alabama is known as a stable, high yield opportunity, which has attracted foreign and domestic investors in the current market cycle.The portfolio represents a strong bedroom and bathroom mix consisting of 66 total homes with an average year of construction of 1968 - All homes were recently acquired and renovated to 2017 standards. At a list price of $6,300,000 for the portfolio or $95,455 per unit, this portfolio provides an opportunity to purchase a stable opportunity below replacement costs.

Birmingham, Huntsville, and Montgomery Metro Areas

SVN Investment Sales Group
Mark Allen
(214) 206-9559 x111

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