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Multifamily

Somerville Place

1701 Somerville Rd SE, Decatur, AL 35601

Listing Price: $3,100,000

Cap Rate
5.65%
Number of Units
34
Price/Unit
$91,176
Price/Gross SF
$115.55
Gross SF
26,828

Investment Overview

Presenting Somerville Place Portfolio, totaling 34 units, in Decatur, Alabama.

Investment Highlights

  • Presenting Somerville Place Portfolio in Decatur, Alabama | Portfolio of 34 Units all in Close Proximity
  • Four Total Parcels Comprising 1.59 Acres
  • Value-Add Upside Through Additional Lease-up & Below Market Rents
  • Seller has Spent Over $75K in Recent Cap Ex
  • Metro Huntsville Population has Grown 18% Over the Past Decade | Huntsville is now the Largest City in Alabama Based on Population
  • Two-Minute Drive North to Decatur Morgan Hospital
  • The Metro is Being Reinvented as a Tech Center and Many Buildings are Being Redeveloped to Attract new Companies and Workers to the Area
  • A new Amazon Fulfillment Center Plans to Bring More Than 500 Jobs With a 1 Million SF Facility (Nine Miles NE From Subject)

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Listing Price: $3,100,000

Cap Rate
5.65%
Number of Units
34
Price/Unit
$91,176
Price/Gross SF
$115.55
Gross SF
26,828

Investment Highlights

  • Presenting Somerville Place Portfolio in Decatur, Alabama | Portfolio of 34 Units all in Close Proximity
  • Four Total Parcels Comprising 1.59 Acres
  • Value-Add Upside Through Additional Lease-up & Below Market Rents
  • Seller has Spent Over $75K in Recent Cap Ex
  • Metro Huntsville Population has Grown 18% Over the Past Decade | Huntsville is now the Largest City in Alabama Based on Population
  • Two-Minute Drive North to Decatur Morgan Hospital
  • The Metro is Being Reinvented as a Tech Center and Many Buildings are Being Redeveloped to Attract new Companies and Workers to the Area
  • A new Amazon Fulfillment Center Plans to Bring More Than 500 Jobs With a 1 Million SF Facility (Nine Miles NE From Subject)

Investment Overview

Presenting Somerville Place Portfolio, totaling 34 units, in Decatur, Alabama.

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

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