Skip to main content

Multifamily

Elkton Apartments

20609 Elkton Rd, Athens, AL 35614

Listing Price: $525,000

Cap Rate
5.65%
Number of Units
5
GRM
9.21
Price/Unit
$105,000
Price/Gross SF
$153.06
Gross SF
3,430

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale this property in Athens, AL. This offering will allow a potential investor to purchase a rare value-add opportunity.

Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to:1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require an assumption of current debt at closing. Offers should be delivered to the attention of the Listing Agents.

AT NO POINT SHOULD TENANTS OR STAFF BE CONTACTED REGARDING THE SALE OF THE ELKTON APARTMENTS.

Investment Highlights

  • Rents are currently $180-200 below market
  • $5,000 spent in total on new wiring for each unit this year
  • Apartments have a stove and refrigerator
  • Large yard

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Financing By

Multifamily

Elkton Apartments

Listing Price: $525,000

Cap Rate
5.65%
Number of Units
5
GRM
9.21
Price/Unit
$105,000
Price/Gross SF
$153.06
Gross SF
3,430

Investment Highlights

  • Rents are currently $180-200 below market
  • $5,000 spent in total on new wiring for each unit this year
  • Apartments have a stove and refrigerator
  • Large yard

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale this property in Athens, AL. This offering will allow a potential investor to purchase a rare value-add opportunity. Offers should be presented in the form of a non-binding Letter of Intent, spelling out the significant terms and conditions of the Purchaser’s offer including, but not limited to:1) asset pricing, 2) due diligence and closing time frame, 3) earnest money deposit, 4) a description of the debt/equity structure, and 5) qualification to close. The purchase terms shall require an assumption of current debt at closing. Offers should be delivered to the attention of the Listing Agents. AT NO POINT SHOULD TENANTS OR STAFF BE CONTACTED REGARDING THE SALE OF THE ELKTON APARTMENTS.

Broker of Record

  • Eddie Greenhalgh

    Senior Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

Financing By

MM Texture Background
MM Textured Background Lower