640 Greenview St

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Address: 640 Greenview St, Albertville, AL 35950, USA

Atlanta & Southeast + Apartment Buildings

Created date: February 19, 2024

Date last updated: August 28, 2024

Pet Friendly
Updated Metal Roofs (2013)
Updated Vinyl Siding (2016)
Strong Occupancy
All HVACs [2014-2016]
65% New Appliances
Water saving faucets
Wood Laminate Flooring
Light Fixture Packages

Property Description

Pine Ridge Apartments is a 72-unit apartment complex located in quiet Albertville, Alabama. Built in 1986, the property is in strong, stable operating condition with 100% occupancy. and a waiting list. With the addition of a pet park and outdoor community area, as well as a renovation of the playground investors could effectively increase rents by 5% providing an additional $21,600 in rental revenue a year. These amenities would require little to no maintenance, providing a sustainable and significant upside for investors. Pine Ridge presents one of the best opportunities in the apartment asset class we've seen in 2017. Roughly 70% of the units are 2 bedroom units, the property has been 97% occupied for years, and offers a new buyer a 15%+ return in YR 1. The property is practically new, with many renovations over the last four years including the following:

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$3,500,000
No. of Units:	72
Year Built:	1986
Lot Size:	3.53 Sq ft
Opportunity Zone:	No
Price per unit:	$48,611
Property Website	Click Here