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Multifamily

Villas at Kelly Springs

710 Nick Fitcheard Rd NW, Huntsville, AL 35806

Listing Price: Request For Offer

Number of Units
105
Gross SF
300,000

Investment Overview

Marcus & Millichap is pleased to present the exclusive opportunity to acquire Villas at Kelly Springs, a 105-unit, 2020-21 built apartment community located in Huntsville, Alabama. This property will arrive to market while finishing lease-up and is projected to fully stabilize prior to year-end, allowing future ownership the ability to maximize second-generation leasing, capitalizing on the robust organic rent growth that has occurred in the market of 9.7% year-over-year. In 2021, the US Space Command announced Huntsville as its preferred location for official headquarters. In addition, multiple large high-tech, advanced manufacturing, and government-related developments are forecasted to generate a significant pipeline of new high-paying jobs in the near future. Recently ranked as the third best city to live in the entire country, Huntsville is known as the Silicon Valley of the South. This designation is richly deserved with one of the greatest concentrations of engineers and PhD’s in the entire country.

Investment Highlights

  • Class A, single-level new construction in one of the nation's most dynamic and fastest growing cities.
  • Dynamic economy driven by aerospace, defense, technology, and manufacturing industries.
  • Average Class A asking rents within Huntsville are estimated to end 2021 at $1,449, allowing new ownership to organically increase rents and boost near-term returns.

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
105
Gross SF
300,000

Investment Highlights

  • Class A, single-level new construction in one of the nation's most dynamic and fastest growing cities.
  • Dynamic economy driven by aerospace, defense, technology, and manufacturing industries.
  • Average Class A asking rents within Huntsville are estimated to end 2021 at $1,449, allowing new ownership to organically increase rents and boost near-term returns.

Investment Overview

Marcus & Millichap is pleased to present the exclusive opportunity to acquire Villas at Kelly Springs, a 105-unit, 2020-21 built apartment community located in Huntsville, Alabama. This property will arrive to market while finishing lease-up and is projected to fully stabilize prior to year-end, allowing future ownership the ability to maximize second-generation leasing, capitalizing on the robust organic rent growth that has occurred in the market of 9.7% year-over-year. In 2021, the US Space Command announced Huntsville as its preferred location for official headquarters. In addition, multiple large high-tech, advanced manufacturing, and government-related developments are forecasted to generate a significant pipeline of new high-paying jobs in the near future. Recently ranked as the third best city to live in the entire country, Huntsville is known as the Silicon Valley of the South. This designation is richly deserved with one of the greatest concentrations of engineers and PhD’s in the entire country.

Exclusively Listed By

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