1736 Rhodes St - Apartments FOR SALE


Montgomery, AL 36106
$1,950,000 USD
205-266-4716
1736 Rhodes St, Montgomery, AL for Sale
$1,950,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

1736 Rhodes St
Montgomery, AL 36106


OVERVIEW

These newly renovated mid-term rentals are located blocks from Jackson Hospital as well as a couple of miles from Baptist South Hospital. The property receives above market rents due to the proximity to medical centers and unique travel nursing demands. This property has historically remained 100% occupied and there is often a waitlist for tenants. Premium interior/exterior finishes make this a highly sought after property, especially among nurses. This is a rare opportunity to acquire an asset with a CAP rate just below 8%. In today's rate environment this is above where many other multifamily deals are trading. At full occupancy this property has the potential to bring $230,000 in annual rental revenue. The property will be sold completely furnished and is remotely managed (wi-fi connected Schlage locks, smart thermostats, online unit walk throughs, etc.), making for any easy transition when renting to mid-term tenants. Designer selected furniture and finishes are used throughout all units on the property. All units have washer and dryer in the unit.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$137 USD /SF

# OF UNITS

12

PRICE/UNIT

$162,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Olive Forest Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2005

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,352 SF

ZONING

-

APN/PARCEL ID

10-04-17-2-017-001.000,10-04-17-2-017-002.000,10-04-17-2-017-002.001

ASK ABOUT THIS PROPERTY

Bo GreshamHarbert Multifamily AdvisorsMore Info
205-266-4716

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Bo GreshamHarbert Multifamily AdvisorsMore Info
205-266-4716

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.