Contacts
Steven Paulsen
Open Market CRE
(954) 859-5003
Property Details
- Property Type Multi-Family
- Property Size 66,960 SF
- Units 52
- Date Updated Apr 9, 2024
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Highlights
- Priced Well Below Replacement Cost at $66 Per Square Foot
- Value Add Opportunity via Rent Raise and Renovation Program
- Centrally Located Portfolio For Easier Management
- Attractive Assumable Debt | 4.53% - Total Return Year One > 14.38%
- Rental Income Loss to Lease | 14.57%
- Pro Forma Cap Rate | 10.19%
- Strategic Ability to Sell Individually Into Historically Strong Single Family Market
- Notable Economic Drivers | Hyundai Plant, Maxwell-Gunter AF Base,
- State Capitol of Alabama, Alabama State University, Amazon, Alfa Insurance
Getting around
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Location
- City Montgomery, AL
- Neighborhood Capitol Heights
- Zip Code 36107
Points of Interest
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Montgomery Union Station
0.81 miles
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BP
0.86 miles
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Exxon
0.88 miles
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Chevron
1.33 miles
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Entec
1.82 miles
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Murphy USA
1.83 miles
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Z-Tec
1.84 miles
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Pacecar
1.88 miles
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BP
1.96 miles
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Citgo
2.04 miles
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Chevron
2.14 miles
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One Commerce Street Parking
0.59 miles
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Chamber of Commerce Parking
0.59 miles
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Lot 5
7.31 miles
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Lot 1
7.38 miles
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DoubleTree by Hilton Hotel Montgomery Downtown
0.38 miles
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SpringHill Suites
0.59 miles
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Renaissance Montgomery Hotel & Spa at the Convention Center
0.68 miles
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Embassy Suites Montgomery Hotel & Conference Center
0.79 miles
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Stay Lodge
1.80 miles
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Red Roof Inn Montgomery Midtown
2.02 miles
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Hilton Garden Inn Montgomery East
3.58 miles
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Homewood Suites by Hilton Montgomery
3.62 miles
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America's Best Inns & Suites
4.03 miles
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Comfort Inn
4.12 miles
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Walmart Supercenter
1.94 miles
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Walmart Neighborhood Market
2.60 miles
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Base Exchange
3.15 miles
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Commissary
3.19 miles
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Aldi
4.95 miles
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Walmart Supercenter
5.34 miles
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Eastdale Mall
5.53 miles
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Walmart Supercenter
6.77 miles
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Publix
7.45 miles
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Whole Foods Market
7.58 miles
In-Depth Research Available for this Property
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Contact Listing Broker
Steven Paulsen
Open Market CRE
(954) 859-5003