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Multifamily

The Oakley

235 James I Harrison Jr Pkwy, Tuscaloosa, AL 35405

Listing Price: Request For Offer

Number of Units
353
Gross SF
319,488

Investment Overview

The Oakleigh has benefitted from a notable CapX campaign along with a significant property re-branding in recent months and has experienced over $1mm in capital injection - 80%+ of which focused on interior renovations – which has resulted in rental premiums of up to $190/month. Even with these new rental rates, The Oakleigh remains an average of $149/month below the submarket comp set, giving future ownership the ability to step into a community on the rise and implement these rental premiums and more across the remainder of the property. There currently exists $1.2mm in annual loss to lease to be burned-off based on the new market rents, which will also present a new owner with fantastic operational upside going forward and ability to operate well above a stabilized market cap rate using the most recent market rates being achieved.

Investment Highlights

  • Has benefitted from a notable CapX campaign along with a significant property re-branding in recent months and has experienced over $1mm in capital injection
  • The Oakleigh remains an average of $149/month below the submarket comp set
  • There currently exists $1.2mm in annual loss to lease to be burned-off based on the new market rents

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
353
Gross SF
319,488

Investment Highlights

  • Has benefitted from a notable CapX campaign along with a significant property re-branding in recent months and has experienced over $1mm in capital injection
  • The Oakleigh remains an average of $149/month below the submarket comp set
  • There currently exists $1.2mm in annual loss to lease to be burned-off based on the new market rents

Investment Overview

The Oakleigh has benefitted from a notable CapX campaign along with a significant property re-branding in recent months and has experienced over $1mm in capital injection - 80%+ of which focused on interior renovations – which has resulted in rental premiums of up to $190/month. Even with these new rental rates, The Oakleigh remains an average of $149/month below the submarket comp set, giving future ownership the ability to step into a community on the rise and implement these rental premiums and more across the remainder of the property. There currently exists $1.2mm in annual loss to lease to be burned-off based on the new market rents, which will also present a new owner with fantastic operational upside going forward and ability to operate well above a stabilized market cap rate using the most recent market rates being achieved.

Exclusively Listed By

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