711 Cross Ave, Russellville, AL 35653
11 Multifamily Properties Offered at $15,000,000 in Multiple Locations
For Sale
Active
Asking Price $15,000,000
- Property Type
-
Multifamily
- Square Feet
- 420,331 SF
Listing Contacts
Steven Nunnelley
Property Overview
The Vulcan Group is pleased to present the exclusive opportunity to acquire the Greer 1 Portfolio. This portfolio comprises of (11) multifamily affordable communities, a total of 424-units, located across North Alabama. The properties were built in the 1990's and early 2000's and have been well maintained by the original owner. There is an opportunity to raise rents to the Fair Market Rent Allowance, which is easily achievable due to low inventory and high rental demand in the markets. As affordable housing becomes ever increasing in demand, these beautifully constructed communities allow any LIHTC operator or other investor to add income producing properties to their overall portfolio and create a large footprint of ownership in North Alabama. Owner built, owned, and managed communities are sought after and are increasingly difficult to find in today's market. This portfolio is set up to be one of the best investment opportunities in Alabama for an investor looking to scale in locations with high barriers to entry.
Highlights
- Opportunity to invest at scale with low barrier to entry
All available spaces
- Space
- Willow Bend Apartments
- Size
- 37,374 SF
- Space Subtype
- Multifamily
- Space
- Royal Oak Apartments
- Size
- 40,000 SF
- Space Subtype
- Multifamily
- Space
- Fairview Apartments
- Size
- 56,850 SF
- Space Subtype
- Multifamily
- Space
- Shadow Lake
- Size
- 40,414 SF
- Space Subtype
- Multifamily
- Space
- Cedar Village
- Size
- 18,598 SF
- Space Subtype
- Multifamily
- Space
- Fox Ridge
- Size
- 41,278 SF
- Space Subtype
- Multifamily
- Space
- Cambridge Apartments
- Size
- 40,448 SF
- Space Subtype
- Multifamily
- Space
- Park Village
- Size
- 35,000 SF
- Space Subtype
- Multifamily
- Space
- Crestwood Apartments
- Size
- 30,000 SF
- Space Subtype
- Multifamily
- Space
- Regency Apartments
- Size
- 40,000 SF
- Space Subtype
- Multifamily
- Space
- Windsor Apartments
- Size
- 40,369 SF
- Space Subtype
- Multifamily
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