Multifamily
Alabaster Bay
291 Alabaster Dr, Dothan, AL 36301
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to offer to qualified investors, Alabaster Bay, a 56-unit multifamily asset located in Dothan, AL. Built-in 2001, Alabaster Bay Apartments offers tenants a diverse unit mix, which are also some of the largest units in the market, and all units include washer/dryer connections. Over the recent years, Alabaster Bay as had renovations done to 52 of the 56 units including all new granite countertops, vinyl plank flooring, appliances, light fixtures, cabinets, bathroom vanities, and new roofs in 2024. Alabaster Bay also boasts an amenity package which includes a basketball court, on-site laundry facility, playground, clubhouse/resident lounge, and a swimming pool.
Alabaster Bay
Investment Highlights
- 56-Unit Multifamily Property Built in 2001, Located in Dothan, Alabama.
- Diverse Unit Mix Of 12 Two-bedroom/Two-bathroom Units With 990 Sq.Ft., 28 Three-bedroom/Two-bathroom Units With 1,211 Sq. Ft, And 16 Four-bedroom/Two-bathroom Units With 1,292 Sq.Ft.
- Currently, The Average of In-place Leases Are Below Other like Kind Properties in the Market, Allowing For A New Investor To Capitalize on Upside Through Continued Rental Increases Over Their Hold
- Current Ownership Has Renovated 52 out of 56 Units with High End Finishes Such as Granite Countertops, Vinyl Plank Flooring, New Cabinets, a Mix of Stainless Steel, Black and White Appliances, Bathroom Vanities with Granite Countertops, Recessed Lights, Ceiling Fans, and More.
- Opportunity To Add Washer/Dryer Appliances And Complete Renovations On The Remaining 4 Unrenovated Units To Further Support Rental Increases.
- All Roofs Replaced in 2024, Allowing an Investor The Ability to Focus on Operations and Rental Increases.
- Amenity Package Includes a Basketball Court, On-Site Laundry Facility, Playground, Clubhouse and a Swimming Pool Washer/Dryer Hook-Ups in Each Unit, and Vaulted Ceilings in Upstairs Units.
Broker of Record
Financing By
Listing Price: Request For Offer
Investment Highlights
- 56-Unit Multifamily Property Built in 2001, Located in Dothan, Alabama.
- Diverse Unit Mix Of 12 Two-bedroom/Two-bathroom Units With 990 Sq.Ft., 28 Three-bedroom/Two-bathroom Units With 1,211 Sq. Ft, And 16 Four-bedroom/Two-bathroom Units With 1,292 Sq.Ft.
- Currently, The Average of In-place Leases Are Below Other like Kind Properties in the Market, Allowing For A New Investor To Capitalize on Upside Through Continued Rental Increases Over Their Hold
- Current Ownership Has Renovated 52 out of 56 Units with High End Finishes Such as Granite Countertops, Vinyl Plank Flooring, New Cabinets, a Mix of Stainless Steel, Black and White Appliances, Bathroom Vanities with Granite Countertops, Recessed Lights, Ceiling Fans, and More.
- Opportunity To Add Washer/Dryer Appliances And Complete Renovations On The Remaining 4 Unrenovated Units To Further Support Rental Increases.
- All Roofs Replaced in 2024, Allowing an Investor The Ability to Focus on Operations and Rental Increases.
- Amenity Package Includes a Basketball Court, On-Site Laundry Facility, Playground, Clubhouse and a Swimming Pool Washer/Dryer Hook-Ups in Each Unit, and Vaulted Ceilings in Upstairs Units.
Investment Overview
Marcus & Millichap is pleased to offer to qualified investors, Alabaster Bay, a 56-unit multifamily asset located in Dothan, AL. Built-in 2001, Alabaster Bay Apartments offers tenants a diverse unit mix, which are also some of the largest units in the market, and all units include washer/dryer connections. Over the recent years, Alabaster Bay as had renovations done to 52 of the 56 units including all new granite countertops, vinyl plank flooring, appliances, light fixtures, cabinets, bathroom vanities, and new roofs in 2024. Alabaster Bay also boasts an amenity package which includes a basketball court, on-site laundry facility, playground, clubhouse/resident lounge, and a swimming pool.
Broker of Record
-
Eddie Greenhalgh
Senior Vice President Investments
Financing By
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