Multifamily
Creekside Apartments
2301 Motes Rd, Sylacauga, AL 35150, Sylacauga, AL 35150
Listing Price: Request For Offer
Investment Overview
The Gulf States office of Marcus and Millichap is pleased to present the exclusive opportunity to acquire Creekside Apartments in Sylacauga, Alabama. Creekside, featuring 98 units and constructed in 2012, currently delivers strong operational performance with 98% occupancy and virtually no past-due balances, reflecting excellent tenant quality and collections in this stable secondary market. The community also benefits from full submetering of both water and electric utilities, which keeps the expense load exceptionally low and shields NOI from rising utility costs. Recent value-add investments across both interiors and exteriors further enhance the property’s appeal and income potential as ownership has fully renovated over half the property interiors with a high-quality renovation scope featuring modern finishes that support premium rents, while also completing HVAC replacements, new roofs on two buildings, refreshed exterior paint, landscaping improvements, and the addition of a playground to boost family-friendly curb appeal.
Creekside Apartments
Investment Highlights
- These capital improvements, combined with the narrowing loss-to-lease gap over the coming months, position it as a compelling opportunity for future ownership to inherit attractive day 1 yield
- The next owner will inherit a turnkey, performing asset with built-in NOI upside from leasing the renovated units at higher rates, continued strong occupancy, and operational efficiencies.
- Located at 2301 Motes Road, Creekside Apartments provides residents with convenient access to everyday needs and employment centers.
Exclusively Listed By
Investment Highlights
- These capital improvements, combined with the narrowing loss-to-lease gap over the coming months, position it as a compelling opportunity for future ownership to inherit attractive day 1 yield
- The next owner will inherit a turnkey, performing asset with built-in NOI upside from leasing the renovated units at higher rates, continued strong occupancy, and operational efficiencies.
- Located at 2301 Motes Road, Creekside Apartments provides residents with convenient access to everyday needs and employment centers.
Investment Overview
The Gulf States office of Marcus and Millichap is pleased to present the exclusive opportunity to acquire Creekside Apartments in Sylacauga, Alabama. Creekside, featuring 98 units and constructed in 2012, currently delivers strong operational performance with 98% occupancy and virtually no past-due balances, reflecting excellent tenant quality and collections in this stable secondary market. The community also benefits from full submetering of both water and electric utilities, which keeps the expense load exceptionally low and shields NOI from rising utility costs. Recent value-add investments across both interiors and exteriors further enhance the property’s appeal and income potential as ownership has fully renovated over half the property interiors with a high-quality renovation scope featuring modern finishes that support premium rents, while also completing HVAC replacements, new roofs on two buildings, refreshed exterior paint, landscaping improvements, and the addition of a playground to boost family-friendly curb appeal.
Exclusively Listed By
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