For Sale
Call for price

7601 2Nd AveBirmingham, AL 35206

258 Units, High-Growth Potential

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a portfolio of four multifamily properties totaling 258 units in Birmingham, Alabama. Strategically located across multiple desirable neighborhoods including Center Point, Eastmont Plaza, Fountain Blue, Highland Park, and Pointe Arlington, this portfolio offers immediate scale in a thriving market. The properties, built between 1968 and 1974, comprise 23 buildings with a total of 43,240 to 69,387 square feet across approximately 1.22 to 3.77 acres of land. The portfolio features a diverse unit mix and benefits from a proven resident placement program, ensuring consistent occupancy. Significant recent capital expenditures totaling $4.9 million have been invested, providing immediate value and minimizing future capital needs. The properties are situated in an Opportunity Zone, offering attractive tax incentives and long-term growth potential. This portfolio presents a compelling value-add opportunity with potential for increased revenue through lease trade-outs, utility reimbursement increases, and interior renovations. The existing management team is effective, affordable, and willing to remain, ensuring a smooth transition for the new owner. APN numbers include: 23 00 15 1 006 001.000 | 23 00 15 1 014 001.000; 29 00 03 1 015 001.000 | 29 00 03 2 034 002.000 29 00 03 2 034 003.000; 29 00 06 1 017 004.003 | 29 00 06 1 017 004.002 29 00 06 1 017 004.001. This is a rare opportunity to acquire a substantial multifamily portfolio in a strong, growing market.

Highlights

  • 258-unit multifamily portfolio in Birmingham, Alabama.
  • $4.9M in recent capital expenditures.
  • Multiple value-add opportunities across all properties.
  • Located in an Opportunity Zone.
  • Attractive unit mix and proven resident placement program.
  • Effective and affordable existing management team.

Property Details for 7601 2Nd Ave

Property type
Square Feet
43,240 SF
Buildings
23
Stories
8
Lot Size (sq. ft)
53,143 SF
Units
258

Location Insight

City
Birmingham
County
Jefferson
State
Alabama
Latitude
33.5613584
Longitude
-86.7307397
7601 2Nd Ave, Birmingham, Alabama

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7601 2Nd Ave
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