3801 Thomas Rd

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Address: 3801 Thomas Rd SW, Huntsville, AL 35805, USA

Atlanta & Southeast + Apartment Buildings

Created date: June 6, 2024

Date last updated: August 28, 2024

- 89,645 SF building with ample space for multifamily residential units.
- 127 units offer a substantial investment opportunity.
- Built in 1958, renovated in 2024 for modern appeal.
- 92% occupancy presents a strong and stable income stream.
- Well-maintained property with attractive curb appeal.
- Spacious layout and well-designed units for tenant comfort.
- Excellent amenities to attract and retain tenants.
- Ideal for Multifamily / Low-Rise/Garden investor seeking a sizable property.

Property Description

Redstone Station offers investors the opportunity to buy rare, high quality workforce housing in the fastest growing city in the Southeast US. Known as the ‘Rocket City’, Huntsville continues to see a massive migration of high paying jobs from around the globe, becoming one of the dominant tech centric cities in the Sunbelt Region, featuring the highest per capita of engineers in the world. As the population increases in Huntsville, quality workforce housing is in high demand, with limited, competitive supply coming online. Redstone Station is delivered in high-quality physical condition, provides easily identifiable upside for investors, and is located 0.5 Miles to the largest employer in the city. This 89,440 SF property boasts 127 well maintained units, offering a lucrative investment with little deferred maintenance, a great basis from which a new investor can realize strong cash on cash returns, value-add upside, and an opportunity to own contiguous CRE in a rapidly appreciating submarket. The garden style property consists of both townhome and flat units appealing to the current tenant profile of both working class and professionals in the engineering, nursing, and research fields. Over their 3-yr. ownership, the seller has completed almost $800,000 in interior renovations, replaced 19/22 or 86% of the roofs, replaced every window onsite, completed a 2-tone paint scheme, replaced every sliding glass door for the 32 townhomes, and completed a quarter million dollars of systems replacements.

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
No. of Units:	127
Year Built:	1958
Lot Size:	4.42 Sq ft
Opportunity Zone:	No
Property Website	Click Here