Multifamily
The Pointe Apartments
1814 Bond Cir NE, Center Point, AL 35215
Listing Price: Request For Offer
Investment Overview
The Gulf States office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire The Pointe Apartments, 198 units located in Birmingham, Alabama. The Pointe Apartments arrives to market on the heels of a significant $4mm ($21,000/unit) repositioning campaign, which included strategic capital injections across notable asset preservation items such as roofs, windows, siding replacements, and select interior renovations across +/- 30 units which are ongoing and expected to be completed prior to closing. These updates are in addition to a $10mm capital infusion which took place in 2005 and will allow future ownership to capitalize on creating operational efficiencies which will further drive top line growth in the coming year.
The Pointe Apartments
Investment Highlights
- Built in the early 1970's, 179 out of the 198 units at The Pointe are classified under Section 42 Low Income Housing Tax Credits and are currently in the extended use period.
- At a micro level, Birmingham's real estate market is experiencing revitalization, with a focus on downtown and surrounding neighborhoods.
- Birmingham's economy has shown positive momentum in recent years, with unemployment rates dropping below the state average, and forecasts suggest the city will continue to see job growth.
Exclusively Listed By
Listing Price: Request For Offer
Investment Highlights
- Built in the early 1970's, 179 out of the 198 units at The Pointe are classified under Section 42 Low Income Housing Tax Credits and are currently in the extended use period.
- At a micro level, Birmingham's real estate market is experiencing revitalization, with a focus on downtown and surrounding neighborhoods.
- Birmingham's economy has shown positive momentum in recent years, with unemployment rates dropping below the state average, and forecasts suggest the city will continue to see job growth.
Investment Overview
The Gulf States office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire The Pointe Apartments, 198 units located in Birmingham, Alabama. The Pointe Apartments arrives to market on the heels of a significant $4mm ($21,000/unit) repositioning campaign, which included strategic capital injections across notable asset preservation items such as roofs, windows, siding replacements, and select interior renovations across +/- 30 units which are ongoing and expected to be completed prior to closing. These updates are in addition to a $10mm capital infusion which took place in 2005 and will allow future ownership to capitalize on creating operational efficiencies which will further drive top line growth in the coming year.
Exclusively Listed By
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