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Multifamily

Magnolia Apartments

4000 Governors Dr, Montgomery, AL 36111

Listing Price: Request For Offer

Number of Units
96
Gross SF
84,000

Investment Overview

The Gulf States office of Marcus and Millichap is pleased to present the exclusive opportunity to acquire Magnolia Apartments, 96 units situated in Montgomery, Alabama. This stabilized asset is neatly tucked away along Eastern Blvd behind the One Center which houses Fire Station #9, Montgomery Police Department, Montgomery Technical Preparatory School and a top 5 magnet school in the state, LAMP High. Consisting of two phases built in 1984/1997, Magnolia will arrive to market maintaining consistent occupancy near 100% with the majority of the units having undergone renovations and Phase One having just received brand new roofs. Magnolia presents investors with an opportunity to acquire a clean, stable asset trending towards a 6% cap with favorable upside for organic and value-add rent growth.

Investment Highlights

  • The asset is nestled off Eastern Blvd in Montgomery, AL behind the One Center – home to the Montgomery Police Department, Fire Station #9, MPACT Technical School, and LAMP Magnet School.
  • Multiphase community built in 1984/1997 - phase one just received a total roof replacement with architectural shingles that carries a transferable warranty.
  • Magnolia presents investors with an opportunity to acquire a clean, stable asset trending towards a 6% cap with favorable upside for organic and value-add rent growth.

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
96
Gross SF
84,000

Investment Highlights

  • The asset is nestled off Eastern Blvd in Montgomery, AL behind the One Center – home to the Montgomery Police Department, Fire Station #9, MPACT Technical School, and LAMP Magnet School.
  • Multiphase community built in 1984/1997 - phase one just received a total roof replacement with architectural shingles that carries a transferable warranty.
  • Magnolia presents investors with an opportunity to acquire a clean, stable asset trending towards a 6% cap with favorable upside for organic and value-add rent growth.

Investment Overview

The Gulf States office of Marcus and Millichap is pleased to present the exclusive opportunity to acquire Magnolia Apartments, 96 units situated in Montgomery, Alabama. This stabilized asset is neatly tucked away along Eastern Blvd behind the One Center which houses Fire Station #9, Montgomery Police Department, Montgomery Technical Preparatory School and a top 5 magnet school in the state, LAMP High. Consisting of two phases built in 1984/1997, Magnolia will arrive to market maintaining consistent occupancy near 100% with the majority of the units having undergone renovations and Phase One having just received brand new roofs. Magnolia presents investors with an opportunity to acquire a clean, stable asset trending towards a 6% cap with favorable upside for organic and value-add rent growth.

Exclusively Listed By

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