4041 Knight Rd
- 21 Units/16,400 Rentable Square Footage
- Immediate Revenue Growth: There is ample room to increase revenue by establishing rent premiums on fully renovated units.
- Proven Value-Add Opportunity: New ownership can force appreciation by continuing interior and exterior updates, and by adding community amenities to the property's unused greenspace.
- Stable & Efficient Operations: The property is a stabilized, cash-flowing asset that operates at an efficient sub-50% expense ratio.
- Strong Occupancy History: The community has historically maintained over 90% occupancy and is currently 95% occupied.
- Highly Desirable Floorplans: The 21-unit property consists entirely of two-bedroom, one-bathroom layouts, with 16 units already featuring full modern renovations like stainless steel appliances and LVP flooring.
- Accelerating Market Demand: Market absorption in Huntsville is expected to outpace new multifamily supply by 2027-2028, paving the way for faster rental rate growth.
- Strategic Location: Situated in the rapidly growing Southwest Huntsville submarket, the asset provides tenants with quick commutes to major regional employers like Redstone Arsenal and NASA.
Property Description
Knight Road Apartments is a stable, 21-unit garden-style community comprised entirely of highly desirable two-bedroom layouts. Built in 1984, the property operates at an efficient sub-50% expense ratio and boasts a historical occupancy rate of over 90%, currently sitting at 95% occupied. This asset offers a proven and immediate value-add opportunity. Significant capital improvements have already been completed, with 16 of the units fully renovated to include modern finishes such as stainless steel appliances, LVP flooring, new cabinetry, and upgraded countertops. Despite these upgrades, current rents are below market. New ownership has a clear path to growing revenue by establishing rent premiums on the already renovated units, completing upgrades on the remaining units, and developing community amenities in the property's unused greenspace.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,785,000 |
| No. of Units: | 21 |
| Year Built: | 1984 |
| Lot Size: | 1.00 Acres |
| Opportunity Zone: | No |
| Price per unit: | $85,000 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Cap Rate Calculation
Step 4Final Deal Analysis
Similar Properties in the Area
14 Green Acres Cr
Ware Shoals, South Carolina
Brokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout