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Multifamily

Uptown Villas

1429 F L Shuttlesworth Dr, Birmingham, AL 35234

Listing Price: Request For Offer

Number of Units
32
Gross SF
25,696

Investment Overview

The Gulf States office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire Uptown Villas Apartments, a 32-unit multifamily community situated in the rapidly transforming Uptown Submarket - arguably the fastest growing neighborhood in Birmingham, AL. This asset is uniquely positioned in an Opportunity Zone, with close proximity to the most dynamic entertainment district in the city, Uptown. Uptown boasts the brand-new Protective Life Football Stadium, Top Golf, the newly renovated BJCC arena, and several popular restaurants, bars, and hotels. Additionally, the property is just minutes from the largest economic drivers Birmingham has to offer - UAB, Regions Bank, Shipt, BBVA, and Regions Field. The City of Birmingham has announced plans to redevelop the former Carraway Hospital into a mixed-use project, less than a mile from the property, that will further the impressive revitalization efforts in the neighborhood. Uptown Villas thrives under constant demand due to desirability of location and renovations of both the interiors and exteriors, resulting in significant rental premiums, upwards of $300. Future ownership can realize additional value by completing the renovation of the remaining 50%+ classic units and burning off the remaining loss to lease on renovated units.

Investment Highlights

  • Uptown Villas offers Double Digit Cash-on-Cash Returns EOY1 with a simple continuation of the existing, proven value-add program
  • Current ownership has begun a value-add program with 17 of the 32 units being updated and receiving new stainless kitchen appliances, pre-installed washer/dryer, vinyl flooring, cabinets and more
  • Since 2019, Uptown Villas has undergone extensive renovations with a capital infusion pushing north of $158,000

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
32
Gross SF
25,696

Investment Highlights

  • Uptown Villas offers Double Digit Cash-on-Cash Returns EOY1 with a simple continuation of the existing, proven value-add program
  • Current ownership has begun a value-add program with 17 of the 32 units being updated and receiving new stainless kitchen appliances, pre-installed washer/dryer, vinyl flooring, cabinets and more
  • Since 2019, Uptown Villas has undergone extensive renovations with a capital infusion pushing north of $158,000

Investment Overview

The Gulf States office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire Uptown Villas Apartments, a 32-unit multifamily community situated in the rapidly transforming Uptown Submarket - arguably the fastest growing neighborhood in Birmingham, AL. This asset is uniquely positioned in an Opportunity Zone, with close proximity to the most dynamic entertainment district in the city, Uptown. Uptown boasts the brand-new Protective Life Football Stadium, Top Golf, the newly renovated BJCC arena, and several popular restaurants, bars, and hotels. Additionally, the property is just minutes from the largest economic drivers Birmingham has to offer - UAB, Regions Bank, Shipt, BBVA, and Regions Field. The City of Birmingham has announced plans to redevelop the former Carraway Hospital into a mixed-use project, less than a mile from the property, that will further the impressive revitalization efforts in the neighborhood. Uptown Villas thrives under constant demand due to desirability of location and renovations of both the interiors and exteriors, resulting in significant rental premiums, upwards of $300. Future ownership can realize additional value by completing the renovation of the remaining 50%+ classic units and burning off the remaining loss to lease on renovated units.

Exclusively Listed By

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