205-961-3898
7700 1st Ave N, Birmingham, AL for Sale
Apartments - FOR SALE
1/3
null | Request Cap Rate

7700 1st Ave N
Birmingham, AL 35206


HIGHLIGHTS

  • Unit Mix: 1bed/1bath & 2bed/1bath
  • Double Digit Cash-on-Cash Returns & 8.79% Going-in Portfolio Cap Rate
  • Notable Organic Rent Growth Potential - Currently Leased Avg. of $150 Below Market

OVERVIEW

Matthews Real Estate Investment Services™ is pleased to present the Birmingham Portfolio, a collection of four well-maintained and updated, multifamily properties located in the growing Five Points West and Eastlake submarkets of Birmingham, Alabama. The portfolio consists of (54) 2-bedroom units and (26) 1-bedroom units. This opportunity offers the flexibility to purchase the properties either as a package or individually. Over the past six years, each of these complexes has undergone extensive interior renovations along with many large capital improvements like new roofs on each, enhancing their appeal and operations. The properties’ strategic location within walking distance to Birmingham’s rapidly developing neighborhoods, Five Points West and Eastlake, makes them highly attractive to prospective residents. Five Points West is renowned for its recent local investment, featuring the Birmingham CrossPlex Village, along with shopping and entertainment options that draw both residents and visitors alike. In addition to the allure of these two submarkets, the portfolio benefits from proximity to downtown Birmingham’s CBD and Uptown entertainment district. It provides convenient access to major interstates, I-20 and I-65, which accommodate over 250,000 vehicles per day. This prime location ensures easy commutes and travel for residents, further increasing the desirability of the properties. Notable nearby destinations include The Birmingham CrossPlex, Bill Harris Arena, AG Gaston Boys & Girls Club, and the in-progress Family Center Development. The properties are also just minutes away from the state of Alabama’s largest employer, UAB Hospital & University. With its combination of recent renovations, prime location, and proximity to Birmingham’s top attractions and amenities, this Birmingham Portfolio represents an attractive investment opportunity for investors seeking to enter the Birmingham market or grow their existing presence at a low basis.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

18

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1984

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,731 SF

ZONING

-

APN/PARCEL ID

23-00-15-1-003-005.000

ASK ABOUT THIS PROPERTY

Harris SnipesMatthews Real Estate Investment Services, Inc.More Info
205-961-3898

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Harris SnipesMatthews Real Estate Investment Services, Inc.More Info
205-961-3898

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