1331 Glen Grattan Dr

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Address: 1331 Glen Grattan Dr, Montgomery, Alabama, US
Created date: January 26, 2024
Date last updated: February 23, 2024
  • Value Add Opportunity via Rent Raise and Renovation Program
  • Centrally Located Portfolio
  • Rental Income Loss to Lease | 16.5%
  • Pro Forma Cap Rate | 8%
  • Strategic Ability to Sell Individually Into Historically Strong Single Family Market
  • Notable Economic Drivers | Hyundai Plant, Maxwell-Gunter AF Base,
  • State Capitol of Alabama, Alabama State University, Amazon, Alfa Insurance

Property Description

Introducing the Montgomery Residential Portfolio, an exceptional opportunity to acquire a strategically positioned and easily manageable collection of residential properties in the thriving Sun Belt city of Montgomery, Alabama. This portfolio offers a diverse selection of single-family and multifamily units, comprising a total of 135 rentable units. Among them are 96 single-family homes and 39 multifamily units, including 12 duplexes, 1 triplex, and 3 quadraplex buildings. Additionally, the portfolio includes a vacant lot, offering the potential for the construction of an additional home or more. Under current ownership, the portfolio is expertly managed through a local family partnership structure, ensuring a hands-on approach and attentive management. Over the years, this asset has been meticulously maintained and is operating in a sound and efficient manner. There is an opportunity to engage in a renovation strategy to lift the properties and generate substantial increases in rental income. The management team employs a combination of in-house maintenance staff and reliable third-party vendors to meet all service requirements of the portfolio. They also provide unique tenant incentives and maintenance programs that contribute to tenant retention and have the potential to add further value under new ownership. Strategically situated in Montgomery, a city experiencing remarkable growth and embracing a new vision for economic prosperity and enhanced quality of life, the Montgomery Residential Portfolio is ideally positioned. The city has implemented significant revitalization efforts to attract top talent and corporations alike. Residents and businesses are drawn to the State of Alabama's business-friendly climate with its low tax rates and favorable Sun Belt weather. Moreover, Montgomery benefits from its central location between major cities such as Atlanta, Birmingham, and Mobile, as well as its close proximity to the pristine beaches of the Gulf Coast. The presence of prominent manufacturers and distribution centers further strengthens the local economy and contributes to a high standard of living for its residents. This offering presents an exceptional investment opportunity for groups seeking exposure to the Sun Belt region's traditionally favorable business environment, coupled with overall better weather conditions. The area is witnessing a steady influx of capital, increasing the demand for affordable housing options. The Montgomery Residential Portfolio provides the advantage of economies of scale that out-of-area investors seek, including the option to hire a full management staff. Consequently, this portfolio serves as an attractive acquisition target for institutional and private equity investors, both locally and nationally, who recognize the potential for long-term returns in this dynamic market.

Key Property Information

Listing Status: Unavailable
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $6,092,400
No. of Units: 58
Opportunity Zone: No
Price per unit: $105,041
Property Website Click Here
Address: 1331 Glen Grattan Dr, Montgomery, AL 36111, USA
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