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Multifamily

The Hills at Hoover

3627 Cedarbrook Dr, Hoover, AL 35216

Listing Price: Request For Offer

Number of Units
320
Gross SF
329,980

Investment Overview

The Gulf States Office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire the The Hills at Hoover, a 320-unit multifamily community nestled within the highly desirable Hoover submarket of Birmingham, AL. The Hills at Hoover will arrive to market fully stabilized and poised for continue value-add across 65%+ of the remaining classic units – a measure which could yield rental premiums in excess of $150/month. This asset offers not only an extremely clean physical plant, but also an outstanding location which is positioned within minutes of 10,000+ jobs in the adjacent Riverchase Office Park as well as over five million square feet of quality retail, dining, and top tier entertainment amenities. The Hills at Hoover is also zoned for the award-winning Hoover school system, which consists of 14,000 students across 16 schools and has received both state and regional acclaim in all major categories including Academics, College Prep, Administration, and Sports. Traffic and leasing velocity at the property benefit greatly from the demand created by these top-performing schools, offering future investors stability and consistent above-market organic growth. The Hills at Hoover is being offered free and clear of existing debt. Please contact the Gulf States office of Marcus and Millichap for additional information regarding this offering as well as to discuss our other opportunities.

Investment Highlights

  • The City of Hoover heavily restricts new multifamily zoning, resulting in a static apartment stock with rising occupancy and booming rents (12.7% YoY Growth).
  • The Hoover public school system was ranked 5th in the entire state for 2021 and is a major attractor for the suburb, offering strong academics and athletics.
  • The City has added 50,000+ jobs post 2020 lows & is the primary driver of economic growth in AL. With the influx of new jobs, Birmingham's rent growth has outperformed the national average for 4 years

Exclusively Listed By

Multifamily

The Hills at Hoover

Listing Price: Request For Offer

Number of Units
320
Gross SF
329,980

Investment Highlights

  • The City of Hoover heavily restricts new multifamily zoning, resulting in a static apartment stock with rising occupancy and booming rents (12.7% YoY Growth).
  • The Hoover public school system was ranked 5th in the entire state for 2021 and is a major attractor for the suburb, offering strong academics and athletics.
  • The City has added 50,000+ jobs post 2020 lows & is the primary driver of economic growth in AL. With the influx of new jobs, Birmingham's rent growth has outperformed the national average for 4 years

Investment Overview

The Gulf States Office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire the The Hills at Hoover, a 320-unit multifamily community nestled within the highly desirable Hoover submarket of Birmingham, AL. The Hills at Hoover will arrive to market fully stabilized and poised for continue value-add across 65%+ of the remaining classic units – a measure which could yield rental premiums in excess of $150/month. This asset offers not only an extremely clean physical plant, but also an outstanding location which is positioned within minutes of 10,000+ jobs in the adjacent Riverchase Office Park as well as over five million square feet of quality retail, dining, and top tier entertainment amenities. The Hills at Hoover is also zoned for the award-winning Hoover school system, which consists of 14,000 students across 16 schools and has received both state and regional acclaim in all major categories including Academics, College Prep, Administration, and Sports. Traffic and leasing velocity at the property benefit greatly from the demand created by these top-performing schools, offering future investors stability and consistent above-market organic growth. The Hills at Hoover is being offered free and clear of existing debt. Please contact the Gulf States office of Marcus and Millichap for additional information regarding this offering as well as to discuss our other opportunities.

Exclusively Listed By

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