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Multifamily

Steel City Flats

1407 17th Ave S, Birmingham, AL 35205

Listing Price: Request For Offer

Number of Units
36
Gross SF
11,628

Investment Overview

The Gulf States office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire Central Station Apartments and Steel City Flats, two 36-unit multifamily apartment communities situated in historic Southside - a premier location in downtown Birmingham, AL. These assets are uniquely positioned as they are planted among highly sought after residential neighborhoods, as well as the most dynamic entertainment and economic drivers Birmingham has to offer - UAB, Regions, Shipt, BBVA, Regions Field, Top Golf and Protective Life Stadium are all within minutes of each property. The "Southside 72" thrives under constant demand due to desirability of location and variety of floorplans that have undergone renovations resulting in significant rental premiums. Future ownership can realize additional value by way of implementing a value-add 2.0 program.

Investment Highlights

  • Room to grow rents organically as the majority of the units are $50-$75 below market rents already being achieved at the property.
  • Walking distance to UAB, the largest employer in the State of Alabama
  • Future ownership can realize additional value by way of implementing a value-add 2.0 program.

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
36
Gross SF
11,628

Investment Highlights

  • Room to grow rents organically as the majority of the units are $50-$75 below market rents already being achieved at the property.
  • Walking distance to UAB, the largest employer in the State of Alabama
  • Future ownership can realize additional value by way of implementing a value-add 2.0 program.

Investment Overview

The Gulf States office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire Central Station Apartments and Steel City Flats, two 36-unit multifamily apartment communities situated in historic Southside - a premier location in downtown Birmingham, AL. These assets are uniquely positioned as they are planted among highly sought after residential neighborhoods, as well as the most dynamic entertainment and economic drivers Birmingham has to offer - UAB, Regions, Shipt, BBVA, Regions Field, Top Golf and Protective Life Stadium are all within minutes of each property. The "Southside 72" thrives under constant demand due to desirability of location and variety of floorplans that have undergone renovations resulting in significant rental premiums. Future ownership can realize additional value by way of implementing a value-add 2.0 program.

Exclusively Listed By

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