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Multifamily

The Summit at The River

608 Jack Warner Pkwy, Tuscaloosa, AL 35404

Listing Price: Request For Offer

Number of Units
106
Occupancy
99.0%

Investment Overview

The Cosgrove Team with Marcus & Millichap is pleased to exclusively offer for sale The Summit at The River Apartments, a 106-unit apartment complex in the heart of Tuscaloosa, Alabama. The offering represents a highly coveted community in a market that boasts a 4% vacancy rate and has seen absorption of rental units outpacing rental construction since 2010 as well as a 25% rental increase in student housing and a 14% increase for non-student housing since 2013. The property is conveniently located within walking distance to the University of Alabama campus shuttle and one mile from the University of Alabama's Campus. The property also sits at two of the busiest intersections with convenient access to the cities many major employers, The property consists of one- and two-bedroom units spanning from 450 square feet to 1,125 square feet. Unit amenities include full kitchens, washer and dryer connections in select units, air conditioning, and hardwood flooring.

Investment Highlights

  • 106-Unit Value-Add Opportunity
  • Located Just One Mile from the University of Alabama and Steps away from Campus Shuttle
  • Opportunity to Increase Average Rents by $110
  • Proximity to Major Employers Such as o Mercedes Benz Us International, University of Alabama, Express Services Inc, Geological Survey of Alabama, DCH Regional Medical Center, Phifer Incorporated, Nucor Steel Tuscaloosa
  • Located at the Intersection of Two Major Roads, Mcfarland Blvd (DOT Traffic 51,740) & Jack Warner Pkwy (DOT Traffic 16,770)
  • Strong Historical Occupancy

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s) AL: 0000882980

    Alabama

Financing By

Multifamily

The Summit at The River

Listing Price: Request For Offer

Number of Units
106
Occupancy
99.0%

Investment Highlights

  • 106-Unit Value-Add Opportunity
  • Located Just One Mile from the University of Alabama and Steps away from Campus Shuttle
  • Opportunity to Increase Average Rents by $110
  • Proximity to Major Employers Such as o Mercedes Benz Us International, University of Alabama, Express Services Inc, Geological Survey of Alabama, DCH Regional Medical Center, Phifer Incorporated, Nucor Steel Tuscaloosa
  • Located at the Intersection of Two Major Roads, Mcfarland Blvd (DOT Traffic 51,740) & Jack Warner Pkwy (DOT Traffic 16,770)
  • Strong Historical Occupancy

Investment Overview

The Cosgrove Team with Marcus & Millichap is pleased to exclusively offer for sale The Summit at The River Apartments, a 106-unit apartment complex in the heart of Tuscaloosa, Alabama. The offering represents a highly coveted community in a market that boasts a 4% vacancy rate and has seen absorption of rental units outpacing rental construction since 2010 as well as a 25% rental increase in student housing and a 14% increase for non-student housing since 2013. The property is conveniently located within walking distance to the University of Alabama campus shuttle and one mile from the University of Alabama's Campus. The property also sits at two of the busiest intersections with convenient access to the cities many major employers, The property consists of one- and two-bedroom units spanning from 450 square feet to 1,125 square feet. Unit amenities include full kitchens, washer and dryer connections in select units, air conditioning, and hardwood flooring.

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    (205) 510-9200

    License(s): AL: 0000882980

    Alabama

Financing By

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