Oasis Homewood Apartment Homes Sell for $6.7 Million
“The purchaser was attracted to the fundamentals of the Homewood submarket and its proximity to downtown demand drivers,” says Josh Jacobs, first vice president investments in the firm’s Birmingham office. “The property will receive significant capital injection going forward, with full renovations across the remaining units.”
The owner was based locally in Birmingham and the purchaser is a limited liability company based out of Atlanta.
Oasis Homewood Apartment Homes is located at 3335 Old Montgomery Highway in Homewood, Alabama, a five-minute drive from the University of Alabama at Birmingham and downtown Birmingham. Consisting of 60 units ranging from one to three bedrooms, the property was built in 1954.
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About Marcus & Millichap (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2021, the company had 1,994 investment sales and financing professionals in 82 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 13,255 transactions in 2021, with a sales volume of approximately $84.4 billion. For additional information, please visit www.MarcusMillichap.com.