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This is a residential portfolio of 10 assets in the historic neighborhood of Washington Park. Included in the portfolio are three (3) duplexes, three (3) homes, and four (4) residential lots. The majority of the assets are located along heavily traveled streets and have businesses located around them. They would make great business locations.
This historic 71-unit apartment complex is in need of rehab per the owners. There are 46 one-bedroom units and 24 two-bedroom units. Excellent investment opportunity as the federal and local governments may subsidize some of the rehab investment. The sellers are very motivated and will accept all offers. The property is currently vacant. Apartment complex for sale. Won Architects Design asward when first developed in 1948 by local architect Clyde Pearson. Great location near Downtown Montgomery. Perfect for remodeling. Property listed on National Historic Register!
The notable Hilltop Arms is a, 9-story, 86,500 square foot Former Apartment complex located in Downtown Montgomery, Alabama in the Historic Cottage Hills Neighborhood and Five Points. Hilltop Arms sits high atop, overlooking Downtown, offering beautiful views of the City' s Skyline and Riverfront. The 1950' s construction is just blocks away from Montgomery' s Downtown Entertainment District and minutes from Maxwell Air Force Base. The building currently sits un-occupied and needs extensive renovations. Today, Montgomery is well-known for its revitalization and redevelopment of Downtown and the Riverfront. More than 30,000 people work in the Central Business District. The city of Montgomery is currently in need of hundreds of housing units in Downtown. The demand is tremendous.
Avignon Terrace is located near the rapidly developing central business district in downtown Montgomery. It has been recently remodeled and enjoys good occupancy. It is near the downtown Alley, the Performing Arts Center, and Biscuits Baseball! With Montgomery' s future growing downtown, Avignon Terrace will be able to take advantage of the CBD' s growing demand.
Canterbury is an 80 unit property with a great history. It was once a property that was developed for the Episcopal Church & for mature residents. It is well landscaped & fenced. Over the years it has been well maintained & had a tenant profile that has taken great care of the property. Wonderful Curb Appeal & streetscape.
Camelot is a highly visible property near Montgomery Mall. It has enjoyed great success over its lifetime. The market area of this property has endured some stress in recent years, but there is activity at the Montgomery Mall, which could greatly improve the surrounding area. Camelot can be a good growth opportunity should the Montgomery Mall area continue to improve.
Montgomery Triplex, all units are 2 bedroom 2 bath. Property was recently painted and new flooring was installed. Property is tax accessed at $180,000 with yearly taxes of $1200.00 Each unit has small back yard with attached storage and covered patios
UPSIDE POTENTIAL Red Lion offers the investor an opportunity to acquire a 158-unit property with a strong in-place NOI and excellent upside potential. This should produce strong yield given today' s attractive capital markets. Currently, the property' s market rents and occupancy lag the market. The new owner at Red Lion will focus on stabilizing current occupancy and increasing net operating income through increased marketing efforts and continued rehab programs. CAPITAL IMPROVEMENTS Significant investments in capital improvements have been made over the last 10 years at Red Lion. The renovations completed include: new windows, doors, siding, and roofs. These previous capital investments will allow the new owner of Red Lion to continue to improve occupancy, rental rates, and net operating income.
This is a portfolio of 61 residential homes located in the city of Montgomery, AL. All are in good locations, each having established rental history's.
Old world charm including high ceilings, big rooms and huge windows that provide wonderful natural light. Up-to-date mechanicals for trouble-free ownership. And just-redone modern open concept interiors that will attract and retain quality tenants. Good ones already in place--management, too--so snag this investment now! Owner pays water/trash, tenants pay all other utilities.