Multifamily
Arbours at Victoria Place
2100 Victoria Pl, Prattville, AL 36066
Listing Price: Request For Offer
Investment Overview
The Gulf States office of Marcus and Millichap is pleased to present the exclusive opportunity to acquire Arbours at Victoria Place, an 88 unit multifamily community located in Prattville, Alabama. Arbours at Victoria Place, built in 1994, will arrive to market with robust “mark to market” upside, having recently exited all affordability restrictions and now operating as a fully market rate conventional community with in-place rents lagging the submarket comp set by an average of $350/month, allowing future ownership to achieve outsized returns once new rental rates saturate the existing rent roll.
Arbours at Victoria Place
Investment Highlights
- Prattville, a top submarket of the Montgomery MSA, boasts median household incomes of $80,000, a low unemployment rate of 3%, and an outstanding 96.9% average occupancy rate
- Prattville is the most prominent suburb in Montgomery, experiencing a 15.4% population growth since 2010 with approximately 40,292 residents.
- The next investor should achieve above-market yields once all units are leased at or near area median rental rates, with additional value-add potential via a programmatic interior renovations
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- Prattville, a top submarket of the Montgomery MSA, boasts median household incomes of $80,000, a low unemployment rate of 3%, and an outstanding 96.9% average occupancy rate
- Prattville is the most prominent suburb in Montgomery, experiencing a 15.4% population growth since 2010 with approximately 40,292 residents.
- The next investor should achieve above-market yields once all units are leased at or near area median rental rates, with additional value-add potential via a programmatic interior renovations
Investment Overview
The Gulf States office of Marcus and Millichap is pleased to present the exclusive opportunity to acquire Arbours at Victoria Place, an 88 unit multifamily community located in Prattville, Alabama. Arbours at Victoria Place, built in 1994, will arrive to market with robust “mark to market” upside, having recently exited all affordability restrictions and now operating as a fully market rate conventional community with in-place rents lagging the submarket comp set by an average of $350/month, allowing future ownership to achieve outsized returns once new rental rates saturate the existing rent roll.
Exclusively Listed By
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