HeathertonApartments

Market | Montgomery MSA Montgomery, Alabama falls within the Montgomery Metropolitan Statistical Area (MSA) and serves as the state’s capital city. Known for its rich history and cultural significance, Montgomery offers a blend of historic landmarks, government institutions, and a growing economic base. The city features a vibrant downtown, diverse dining options, and a range of attractions including the Legacy Museum, the Alabama Riverfront, and the Montgomery Performing Arts Centre. Submarket | Greenville, AL The Greenville submarket is a stable and accessible area supported by a diverse economic base including manufacturing, healthcare, education, and local government employment. Positioned along Interstate 65, the area offers strong regional connectivity to Montgomery, Mobile, and surrounding employment and commercial corridors, supporting consistent demand for workforce housing.Presenting Heatherton Apartments, a 40-unit multifamily community located at 50 School Highlands Rd in Greenville, Alabama. Built in 1998, this 41,200-square-foot property offers a rare and highly attractive repositioning opportunity for visionary investors. Heatherton is an LIHTC property, with restrictions set to burn off in 2027, clearing a fast-approaching path to fully transition the property to market-rate rents. Heatherton Apartments is perfectly positioned for a highly profitable rehabilitation. The property serves as a true "blank slate," granting new ownership immediate operational control to execute a comprehensive turnaround strategy without the logistical challenges, timelines, or lost income associated with tenant relocations. The asset currently requires a specialized capital improvement plan and targeted site-level resolutions to bring the property back online. Because the property is entirely vacant, an investor has the unique advantage to execute these site-level requirements concurrently with modern interior unit renovations, allowing the asset to re-enter the market rapidly with a completely refreshed, superior product. (Note: Full details regarding the asset's current condition and the specialized scope of work required are available in the Offering Memorandum upon execution of the Confidentiality Agreement.)