Catylist ID:
#30761815
16 Unit Multifamily Investment Property for Sale
Multi-Family
for Sale
Sale Pending
| Catylist Listing ID: | 30761815 |
| Property Subtypes: | Low-Rise/Garden |
| Status: | Pending |
| Number of Units: | 16 Units |
| Building Size (RSF): | 11,592 SF |
| Gross Building Area: | See Agent |
| Gross Land Area: | 4.35 Acres |
| Sale Price: | $1,575,000 |
| Unit Price: | $98,437.50 Per Unit |
| Property Use Type: | Investment |
| Building Name: | Magnolia Place |
| Sale Terms: | Undisclosed |
| Cap Rate: | 7.15% |
| Last Updated: | 4/12/2022 |
Overview / Comments
|
Beck Partners Investment Sales is pleased to invite investors to review the Investment Offering for Magnolia Place Apartments a 186 vintage, boutique 16-unit Class B+ asset located in Elberta Alabama. Elberta is only minutes away from booming Foley Alabama within Baldwin County, the fastest growing county in Alabama and the 7th fastest in the US. Magnolia Place provides residents with a safe and affordable living experience in a quiet neighborhood setting. The thoughtful design and product quality of Magnolia allows for easy management and maintenance. Magnolia Place represents an exceptional, long-term investment opportunity to acquire a high quality asset with extraordinary potential and future opportunity that will enhance any portfolio. Current ownership has greatly improved the property with new parking lot, new roofs, and interior unit upgrades, further improvements of laundry facility and conversion of office to a rental unit will provide additional revenue. New roofs and parking lot overlay Several, new renovated Units 100% occupied Significant organic rental growth opportunity Value-add through additional renovated units and laundry upgrades |
Attachments & Media
Additional Details
| Nearest MSA: | Daphne-Fairhope-Foley |
| County: | Baldwin |
| Tax ID/APN: | 05-53-09-29-2-000-001.000 |
| Zoning: | RSF-1 |
| Year Built: | 1986 |
Demographic Statistics
| Proximity: | 3 miles | 5 miles |
|---|---|---|
| Total Population: | 3,903 | 11,033 |
| Median Age: | 40.72 | 42.74 |
| Households: | 1,503 | 4,474 |
Contact
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