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Multifamily

Places at Red Rocks

1534 17th St S, Birmingham, AL 35205

Listing Price: Request For Offer

Number of Units
56
Gross SF
44,080

Investment Overview

The Gulf States office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire Places at Red Rocks, a 56-unit multifamily apartment community situated in the Southside district of Birmingham, AL - walking distance from the University of Alabama at Birmingham, the state's largest employer. The property also benefits from its proximity to a dynamic downtown atmosphere which features Top Golf, Regions Field, Protective Life Stadium and award-winning restaurants. Places at Red Rocks arrives to market fully occupied and achieving premiums in excess of $120 per month on renovated units. Future ownership can realize further value by way of continuing the proven in-place value-add campaign across the 28 remaining classic units.

Investment Highlights

  • Since 2018, Places at Red Rocks has undergone extensive exterior rehab - including the replacement of all roofs, balcony updates and amenity enhancements by way of a new dog park and grilling area.
  • Red Rocks has undergone a full rehab of 28 units with new kitchens, baths, patio doors, stainless appliances and vinyl flooring and is garnering rent premiums averaging $120/monthly.
  • Walking distance to UAB, the largest employer in the State of Alabama.

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
56
Gross SF
44,080

Investment Highlights

  • Since 2018, Places at Red Rocks has undergone extensive exterior rehab - including the replacement of all roofs, balcony updates and amenity enhancements by way of a new dog park and grilling area.
  • Red Rocks has undergone a full rehab of 28 units with new kitchens, baths, patio doors, stainless appliances and vinyl flooring and is garnering rent premiums averaging $120/monthly.
  • Walking distance to UAB, the largest employer in the State of Alabama.

Investment Overview

The Gulf States office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire Places at Red Rocks, a 56-unit multifamily apartment community situated in the Southside district of Birmingham, AL - walking distance from the University of Alabama at Birmingham, the state's largest employer. The property also benefits from its proximity to a dynamic downtown atmosphere which features Top Golf, Regions Field, Protective Life Stadium and award-winning restaurants. Places at Red Rocks arrives to market fully occupied and achieving premiums in excess of $120 per month on renovated units. Future ownership can realize further value by way of continuing the proven in-place value-add campaign across the 28 remaining classic units.

Exclusively Listed By

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