640 Greenview St

• 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: