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Multifamily

Eastdale Oaks

425 N Burbank Dr, Montgomery, AL 36117

Listing Price: Request For Offer

Number of Units
104
Gross SF
155,000

Investment Overview

The Gulf States office of Marcus and Millichap is pleased to introduce the exclusive opportunity to acquire Eastdale Oaks, a 104-unit multifamily community nestled in Montgomery, AL. Constructed in 1986, the property showcases a commitment to quality maintenance, evident in the replacement of all roofs within the last decade along with the exchange of the majority of HVAC systems. Coupled with a legacy of enduring ownership, Eastdale Oaks enters the market in a fully stabilized state, following a recent comprehensive interior renovation program across the vast majority of units.

This initiative has yielded remarkable results, with average rental premiums now surpassing $400 per month compared to previous market rates. Now that the property repositioning has successfully concluded, Eastdale Oaks arrives to market with an outstanding leased occupancy of 97%, highlighting the continued demand for freshly renovated units in the local market. Prospective owners can look forward to this asset's eligibility for an attractive 'mission-driven' agency loan, an enticing day-one cash-on-cash return, and a promising operational trend as we approach the Spring leasing season. Projections indicate robust financial performance, with total revenue expected to surpass $90,000 in January and approach $100,000 in February.

The property's proximity to major employment centers, educational institutions, and healthcare facilities contributes to a robust demand for quality housing in the area. Additionally, convenient access to shopping centers, recreational amenities, and transportation hubs enhances the overall appeal for residents, fostering sustained interest and occupancy. The strategic location, coupled with the recent programmatic renovation of interiors, positions Eastdale Oaks as an attractive choice for individuals seeking modern living within a thriving and accessible community.

Montgomery has a historical significance as the state capital of Alabama, and its economy reflects a mix of traditional sectors and emerging industries. The city has a notable presence in government and military activities, with Maxwell Air Force Base and Gunter Annex playing crucial roles. These institutions, along with state government offices, contribute significantly to Montgomery's economy, providing employment opportunities and supporting related businesses. In recent years, Montgomery has also witnessed growth in sectors beyond government and military. The city has made strides in diversifying its economy, with a focus on manufacturing, healthcare, and education. Manufacturing, in particular, has played a pivotal role, with the automotive industry being a key contributor. The presence of major manufacturing plants has bolstered the local economy, creating jobs and fostering economic stability.

Investment Highlights

  • Comprehensive interior renovation program across the vast majority of units
  • Average rental premiums now surpassing $400 per month compared to previous market rates
  • Outstanding Leased Occupancy of 97%

Exclusively Listed By

Multifamily

Eastdale Oaks

Listing Price: Request For Offer

Number of Units
104
Gross SF
155,000

Investment Highlights

  • Comprehensive interior renovation program across the vast majority of units
  • Average rental premiums now surpassing $400 per month compared to previous market rates
  • Outstanding Leased Occupancy of 97%

Investment Overview

The Gulf States office of Marcus and Millichap is pleased to introduce the exclusive opportunity to acquire Eastdale Oaks, a 104-unit multifamily community nestled in Montgomery, AL. Constructed in 1986, the property showcases a commitment to quality maintenance, evident in the replacement of all roofs within the last decade along with the exchange of the majority of HVAC systems. Coupled with a legacy of enduring ownership, Eastdale Oaks enters the market in a fully stabilized state, following a recent comprehensive interior renovation program across the vast majority of units. This initiative has yielded remarkable results, with average rental premiums now surpassing $400 per month compared to previous market rates. Now that the property repositioning has successfully concluded, Eastdale Oaks arrives to market with an outstanding leased occupancy of 97%, highlighting the continued demand for freshly renovated units in the local market. Prospective owners can look forward to this asset's eligibility for an attractive 'mission-driven' agency loan, an enticing day-one cash-on-cash return, and a promising operational trend as we approach the Spring leasing season. Projections indicate robust financial performance, with total revenue expected to surpass $90,000 in January and approach $100,000 in February. The property's proximity to major employment centers, educational institutions, and healthcare facilities contributes to a robust demand for quality housing in the area. Additionally, convenient access to shopping centers, recreational amenities, and transportation hubs enhances the overall appeal for residents, fostering sustained interest and occupancy. The strategic location, coupled with the recent programmatic renovation of interiors, positions Eastdale Oaks as an attractive choice for individuals seeking modern living within a thriving and accessible community. Montgomery has a historical significance as the state capital of Alabama, and its economy reflects a mix of traditional sectors and emerging industries. The city has a notable presence in government and military activities, with Maxwell Air Force Base and Gunter Annex playing crucial roles. These institutions, along with state government offices, contribute significantly to Montgomery's economy, providing employment opportunities and supporting related businesses. In recent years, Montgomery has also witnessed growth in sectors beyond government and military. The city has made strides in diversifying its economy, with a focus on manufacturing, healthcare, and education. Manufacturing, in particular, has played a pivotal role, with the automotive industry being a key contributor. The presence of major manufacturing plants has bolstered the local economy, creating jobs and fostering economic stability.

Exclusively Listed By

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