3923 Woodley Rd, Montgomery, AL 36116
3 Multifamily Properties in Montgomery, AL
For Sale
Active
- Property Type
-
Multifamily
- Square Feet
- 368,982 SF
Listing Contacts
Josh Jacobs
Property Overview
Brentwood Estates | 1974 Vintage | 152 Units
Woodley Oaks | 1973 Vintage | 104 units
Woodley Terrace | 1972 Vintage | 120 units
The Gulf States office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire the Montgomery 376 Portfolio, a three property, 376 unit multifamily package located in Montgomery, AL. Located along the same street and within walking distance of one another, the Montgomery 376 Portfolio arrives to market offering future ownership opportunity to step into an attractive day one yield while capitalizing on accumulating critical mass at an extremely attractive per unit basis.
Each property within the portfolio has been recently capitalized, with $1.6mm+ in total CapX spend which has resulted in average portfolio occupancy approaching 90% and continued rental demand. Brentwood Estates is in process of receiving select roof replacements along with a full exterior re-paint across every building, work which is anticipated to be completed over the next 60 days. Portfolio revenue has also increased materially in recent months which will result in future ownership inheriting an attractive day one cash flow. Future upside remains via light value-add interior upgrades as well as implementation of a bulk internet program across two of the assets which upon full implementation will result in not only an $88,400 up front door fee but also $61,596 in net revenue annually for the duration of the five-year contract.
Portfolio overview below:
Brentwood Estates:
· 152 Units
· 1974 Vintage
Woodley Terrace:
· 120 Units
· 1972 Vintage
Woodley Oaks:
· 104 Units
· 1973 Vintage
The properties’ proximity to major employment centers, educational institutions, and healthcare facilities contributes to a robust demand for quality housing in the area. LAMP High School, which sits within a five minute commute of the portfolio, ranked as a top 25 High School in America in 2023 according to U.S. News and World Report. Additionally, convenient access to shopping centers, recreational amenities, and transportation hubs enhances the overall appeal for residents, fostering sustained interest and occupancy. The strategic location, coupled with the recent programmatic interior and exterior repositioning, provides an attractive choice for individuals seeking modern living within a thriving and accessible community.
Among the most notable job and economic announcements the city has had in its recent history, Montgomery has communicated plans to build an Inland Intermodal Transfer Facility which will connect it with the Port of Mobile. This will create over 2,600 direct jobs and have a significant economic impact on the market and is estimated to produce $340mm in business revenues and millions of dollars of state and local taxes. A link for more details on this milestone driver can be found here: $231M rail project to connect Port of Mobile to central Alabama. Technology giant Meta also recently announced development plans for a $800mm next-gen data center which will be built in Montgomery in the coming season.
Montgomery 376 Portfolio | Deal Room
The Montgomery 376 Portfolio will be offered free and clear of existing debt and both individual and portfolio offers will be considered. Please reach out to the Gulf States office of Marcus and Millichap for more information regarding this opportunity as well as our other listings which can be found below. We look forward to speaking soon!
Woodley Oaks | 1973 Vintage | 104 units
Woodley Terrace | 1972 Vintage | 120 units
The Gulf States office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire the Montgomery 376 Portfolio, a three property, 376 unit multifamily package located in Montgomery, AL. Located along the same street and within walking distance of one another, the Montgomery 376 Portfolio arrives to market offering future ownership opportunity to step into an attractive day one yield while capitalizing on accumulating critical mass at an extremely attractive per unit basis.
Each property within the portfolio has been recently capitalized, with $1.6mm+ in total CapX spend which has resulted in average portfolio occupancy approaching 90% and continued rental demand. Brentwood Estates is in process of receiving select roof replacements along with a full exterior re-paint across every building, work which is anticipated to be completed over the next 60 days. Portfolio revenue has also increased materially in recent months which will result in future ownership inheriting an attractive day one cash flow. Future upside remains via light value-add interior upgrades as well as implementation of a bulk internet program across two of the assets which upon full implementation will result in not only an $88,400 up front door fee but also $61,596 in net revenue annually for the duration of the five-year contract.
Portfolio overview below:
Brentwood Estates:
· 152 Units
· 1974 Vintage
Woodley Terrace:
· 120 Units
· 1972 Vintage
Woodley Oaks:
· 104 Units
· 1973 Vintage
The properties’ proximity to major employment centers, educational institutions, and healthcare facilities contributes to a robust demand for quality housing in the area. LAMP High School, which sits within a five minute commute of the portfolio, ranked as a top 25 High School in America in 2023 according to U.S. News and World Report. Additionally, convenient access to shopping centers, recreational amenities, and transportation hubs enhances the overall appeal for residents, fostering sustained interest and occupancy. The strategic location, coupled with the recent programmatic interior and exterior repositioning, provides an attractive choice for individuals seeking modern living within a thriving and accessible community.
Among the most notable job and economic announcements the city has had in its recent history, Montgomery has communicated plans to build an Inland Intermodal Transfer Facility which will connect it with the Port of Mobile. This will create over 2,600 direct jobs and have a significant economic impact on the market and is estimated to produce $340mm in business revenues and millions of dollars of state and local taxes. A link for more details on this milestone driver can be found here: $231M rail project to connect Port of Mobile to central Alabama. Technology giant Meta also recently announced development plans for a $800mm next-gen data center which will be built in Montgomery in the coming season.
Montgomery 376 Portfolio | Deal Room
The Montgomery 376 Portfolio will be offered free and clear of existing debt and both individual and portfolio offers will be considered. Please reach out to the Gulf States office of Marcus and Millichap for more information regarding this opportunity as well as our other listings which can be found below. We look forward to speaking soon!
All available spaces
- Space
- Woodley Terrace
- Size
- 108,094 SF
- Space Subtype
- Multifamily
- Space
- Brentwood Estates
- Size
- 140,640 SF
- Space Subtype
- Multifamily
- Space
- Woodley Oaks
- Size
- 120,248 SF
- Space Subtype
- Multifamily
Nearby Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].