Map of Property

Pine Ridge Colony

For Sale

640 Greenview St, ALBERTVILLE, AL 35950

This ALBERTVILLE property for sale is located at 640 Greenview St. The current listed sale price for Pine Ridge Colony is $3,500,000. Pine Ridge Colony is situated on a lot that is 3.53 acre in size.

Contacts

broker

Andrew Agee

SVN | AVAT Realty

(256) 653-0065

Property Details

  • Property Type Multi-Family
  • Property Size 58,080 SF
  • Units 72
  • Lot Size 3.53 Acre
  • Year Built 1986
  • Year Renovated 2016
  • Date Updated Apr 23, 2024
Albertville, ALPine Ridge Apartments is a 72-unit apartment complex located in quiet Albertville, Alabama. Built in 1986, the property is in strong, stable operating condition with 100% occupancy. and a waiting list. With the addition of a pet park and outdoor community area, as well as a renovation of the playground investors could effectively increase rents by 5% providing an additional $21,600 in rental revenue a year. These amenities would require little to no maintenance, providing a sustainable and significant upside for investors. Pine Ridge presents one of the best opportunities in the apartment asset class we've seen in 2017. Roughly 70% of the units are 2 bedroom units, the property has been 97% occupied for years, and offers a new buyer a 15%+ return in YR 1. The property is practically new, with many renovations over the last four years including the following:

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Highlights

  • Pet Friendly
  • Updated Metal Roofs (2013)
  • Updated Vinyl Siding (2016)
  • Strong Occupancy
  • All HVACs [2014-2016]
  • 65% New Appliances
  • Water saving faucets
  • Wood Laminate Flooring
  • Light Fixture Packages

Getting around

  • 27/100

    Walk Score ®

  • 24/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City ALBERTVILLE, AL
  • Neighborhood Albertville
  • Zip Code 35950
  • Market Huntsville

Points of Interest

  • RaceWay

    5.55 miles

  • Murphy USA

    5.83 miles

  • Chevron

    8.88 miles

  • Microtel Inn & Suites

    1.50 miles

  • Wyndham Garden Lake-Guntersville

    8.79 miles

  • Lake Guntersville Lodge

    9.61 miles

  • Piggly Wiggly

    1.54 miles

  • Food City

    1.60 miles

  • TJ Maxx

    1.75 miles

  • Ross

    1.77 miles

  • Walmart Supercenter

    3.67 miles

  • Aldi

    5.13 miles

  • ALDI

    5.13 miles

  • Belk

    5.64 miles

  • Walmart Supercenter

    5.74 miles

  • Publix

    8.85 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Andrew Agee

SVN | AVAT Realty

(256) 653-0065