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Multifamily

South Alabama Portfolio

400 Westwood St, Mobile, AL 36606

Listing Price: Request For Offer

Number of Units
210
Gross SF
529,254

Investment Overview

Palmier, situated in Midtown Mobile, has just completed a complete interior and exterior redevelopment, to the tune of nearly $70k/unit, making it the premier asset in the submarket. Final units have just been delivered and the property is already, nearly fully pre-leased. Palmier is situated in the historic Midtown submarket and is only two miles from Mobile's revitalized downtown as well as a five-minute drive to Mobile's largest retail corridor which hosts Costco, Walmart, Sam's Club, Publix, Target, and more. The Port of Mobile, Mobile Infirmary Hospital, and the city's largest employers are all easily accessible and in close proximity to Palmier, making it a bedrock option for quality housing. Bay Vista is nestled in Daphne, a thriving community in Baldwin County, which is among South Alabama’s most desirable locations as well as the state of Alabama's fastest-growing county by both population and rent growth metrics. This property has undergone significant capital improvements, resulting in strong rent increases and 100% occupancy. Daphne is a highly sought-after community, boasting terrific schools and a limited supply of apartments, which allows for constant value add and organic rent growth. Much like Palmier, Bay Vista is ideally located near major grocery and retail pockets which include Publix, Target, Dick's, and others within minutes of each property.

Investment Highlights

  • 2021-22 Reconstruction
  • Mobile and Daphne are both growing markets with positive rent growth
  • Mobile's economy is expanding rapidly, with several recent headlines announcing several thousand new jobs will be added in 2022 & 2023

Exclusively Listed By

Multifamily

South Alabama Portfolio

Listing Price: Request For Offer

Number of Units
210
Gross SF
529,254

Investment Highlights

  • 2021-22 Reconstruction
  • Mobile and Daphne are both growing markets with positive rent growth
  • Mobile's economy is expanding rapidly, with several recent headlines announcing several thousand new jobs will be added in 2022 & 2023

Investment Overview

Palmier, situated in Midtown Mobile, has just completed a complete interior and exterior redevelopment, to the tune of nearly $70k/unit, making it the premier asset in the submarket. Final units have just been delivered and the property is already, nearly fully pre-leased. Palmier is situated in the historic Midtown submarket and is only two miles from Mobile's revitalized downtown as well as a five-minute drive to Mobile's largest retail corridor which hosts Costco, Walmart, Sam's Club, Publix, Target, and more. The Port of Mobile, Mobile Infirmary Hospital, and the city's largest employers are all easily accessible and in close proximity to Palmier, making it a bedrock option for quality housing. Bay Vista is nestled in Daphne, a thriving community in Baldwin County, which is among South Alabama’s most desirable locations as well as the state of Alabama's fastest-growing county by both population and rent growth metrics. This property has undergone significant capital improvements, resulting in strong rent increases and 100% occupancy. Daphne is a highly sought-after community, boasting terrific schools and a limited supply of apartments, which allows for constant value add and organic rent growth. Much like Palmier, Bay Vista is ideally located near major grocery and retail pockets which include Publix, Target, Dick's, and others within minutes of each property.

Exclusively Listed By

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