18 units Avg. rent $500.00 Roof replaced 2009 Washer/Dryer connections Occupancy 94%
Strike Price: $16,8MM More information upon request
GREAT 3 bedroom & 2 bath town home located in Pelham. Recent updates that include new carpeting & paint. Patio & deck to rear of home. Big house 1786 Sq/Ft
Amazing opportunity to purchase a fully turnkey real estate investment that currently has $11,309 in monthly rent providing a solid 12% cap rate. This portfolio is currently operating at only an 85% occupancy rate and with better management has the potential for an even greater return! 9 Homes are rented to Section 8 tenants with one of the vacant properties pending inspection for another Section 8 tenant - with all but one 100% Section 8 paid rent. 5 of the cash paying tenants have all been renting their homes for longer than 3 years. This investment speaks for itself - it is one of the best opportunities on the market such a low buy in. Plus, many of the homes in the portfolio could be sold for well above the price per home in this investment package - one of the homes certified appraised last year for $90,000. Owners not willing to carry any financing and not willing to break up the portfolio. Must purchase the whole package or nothing.
Built in 1980, Town Park in Birmingham, Alabama offers apartment living situated on 13.65 acres (19.78 units per acre) of landscaped grounds and includes a mix of one-, two-, and three-bedroom apartment homes totaling 255,750 rentable square feet. The community consists of270 units averaging a comfortable 947 square feet. There are 60 one-bedroom / one-bath units (750 square feet), 160 two-bedroom / one-and-one half-bath units (950 square feet), and 50 three-bedroom / two-bath units (1,175 square feet). The 10 residential buildings and one clubhouse are constructed of wood frame, brick veneer, and vinyl siding with pitched, 30-year architectural asphalt-fiberglass composite shingles over felt paper roofs. There are a total of 382 parking spaces on-site.
Six (6) total units comprised of three (3) duplexes. One duplex in Vestavia Hills. Two duplexes located in Hoover. All three units on relatively flat ground with large lots. Units are occupied.
Recently updated 4 - plex with refinished hardwood floors, built in bookshelves, stainless appliances, washer/dryer units, dishwashers, decks, off street parking.
Built in 1954, Cahaba Park is a 34-unit, garden-style, two-story apartment community located in the Homewood area of Birmingham, Alabama. The area is known for its quiet, traditional living with a variety of businesses, including diners, cafs, and specialty boutiques; and Cahaba Park models this beautifully as it sits in a park-like setting, complete with mature trees and an abundance of lush grass and shrubbery.
Built in 1991, Cahaba Brook is a 20-unit, garden-style, two-story apartment community located in the Cahaba Heights area of Birmingham, Alabama. Cahaba Brook is located near the highly sought-after Vestavia Hills submarket of Birmingham, Alabama, recognized in the for its excellent schools, high median household income, and superb quality of life.
Hendricks-Berkadia is proud to exhibit The Willows, a robust 169-unit apartment community located in upscale Hoover, a thriving submarket of Birmingham, Alabama. Built in 1973 and significantly renovated in 2011, The Willows embodies the comfort and convenience that prospective residents search for in a multifamily property. Ideally situated and convenient to all of Birmingham metro, this unique property boasts an attractive unit mix and is available for those investors seeking a light reposition deal with solid upside potential. Investors should note that many comparable communities in the Hoover area are currently undergoing or have recently undergone significant renovations. This has greatly increased not only the quality of living within the area but market rents as well. The market has responded well to the increase in rents, and numerous properties have maintained occupancies above 90%. Nestled perfectly amidst this steady growth, The Willows is in excellent position to deliver above average Cash on Cash returns beginning Year One.