314 Old Gurley Rd NE
- The Views at Chase Creek is a Class A, newly built asset. It features all the amenities the modern tenant in this high tech market is looking for, and sits at the top of all the competing apartment properties in the growing Chase area.
- The community amenities include a fully equipped gym, outdoor pool with an expansive deck and an impressive clubhouse. Apartments feature granite countertops, high-end fixtures, large walk in closets, and more luxury amenities.
- High Quality New Build
- Huntsville is the fastest growing city in the Southeast US by percentage, and Views at Chase Creek is tucked less than 10 minutes from a vibrant downtown and less than 20 minutes from Cummings Research Park. The Northeast Huntsville submarket around Views boasts $90k in HH income and has several name brand developments both planned and underway.
- High Income, Fast Growing Location
- As we will show in the Rent Comps section of this OM, Views at Chase Creek has up to $150/unit/month in almost immediate upside potential, even compared to the immediate comparable properties. CoStar suggests, as do our analysts, that rents in this submarket should be over $1,600 in three years.
- Headroom on Rent
- The cost to construct Views at Chase Creek would be approaching $250,000/unit at today’s prices. We can offer you the opportunity to acquire this asset well below that cost, providing a savvy investor the opportunity to acquire a new, stabilized asset at a lower price than the cost to build new and lease up.
- Acquire Below Replacement Costs
- Acquiring Views at Chase Creek at this point in the market cycle offers an investor the opportunity to achieve a 16-20% IRR on only a five-year hold of this asset–an amazing value for new construction in one of the fastest growing markets in the US.
- 5 Year Return on Investment
Property Description
AUTO GENERATED - REVIEW AND REWRITE BEFORE LISTNG The Views at Chase Creek is a Class A apartment asset completed in 2022 and consisting of 228 units located just 8 minutes from Downtown Huntsville, Alabama. This property presents an excellent opportunity for astute investors to enter one of the fastest growing markets in the nation at a notable discount from peak pricing. According to CoStar, the subject property is projected to push towards a disposition price of up to $275k/door within the next 5 years.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 228 |
| Year Built: | 2022 |
| Lot Size: | 3.10 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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